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Nigeria To Sign OECD's Multilateral Tax Treaty Instrument

by Lorys Charalambous, Tax-News.com, Cyprus

19 June 2017


Nigeria's Cabinet has approved the signing of the BEPS Multilateral Instrument (MLI) to introduce anti-base erosion and profit shifting (BEPS) measures into its tax treaties.

The signing ceremony for the MLI took place on June 7, 2017, in Paris. A total of 68 countries signed the agreement. Nine territories, including Nigeria, have expressed their intent to sign the agreement at a later date.

The MLI will transpose BEPS recommendations into over 1,100 tax treaties worldwide. The Convention will strengthen provisions to resolve treaty disputes, including through mandatory binding arbitration (which has been adopted by 25 signatories), to reduce double taxation, and increase tax certainty for businesses.

TAGS: compliance | tax | business | double tax agreement (DTA) | tax compliance | Niger | Nigeria | tax avoidance | Organisation for Economic Co-operation and Development (OECD) | Tax | Tax Evasion | BEPS

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