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Nigeria, Singapore to sign air services, tax agreements

15 June 2015, 18:52

Abuja - Nigeria and Singapore have concluded plans to sign agreements to strengthen their bilateral air services and curb double taxation on investments in both countries.

The Nigeria's Ambassador to Singapore, Ambassador Nonye Rajis-Okpara, disclosed the plan on Monday in Abuja.

Rajis-Okpara said the agreement would be sealed on August 4 in Singapore.

She said it would ensure that passenger air carriers from Nigeria and Singapore would have the authority to operate any number of air services between and beyond both countries.

According to her, the double taxation component of the agreement would clarify the taxing rights on different incomes and investments arising from cross border economic activities involving the two nations.

She said the agreements would also encourage reduction or exemption of tax on certain types of income.

Rajis-Okpara said that an Investment Promotion and Protection Agreement would also be signed between Nigeria and Singapore.

According to her, the agreement would seek to ensure non-discrimination, fair and equitable treatment for Nigerian investors and investments in Singapore and vice versa, among other provisions.

Rajis-Okpara said the signing of the agreements which would feature at the Nigeria-Singapore Business and Investment forum would provide a face-to-face platform for both Nigerian and Singaporean entrepreneurs to exchange ideas.



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