The Federal Government has approved Double Taxation Avoidance Agreements with Ghana, Tanzania and Switzerland to prevent businesses and investors from being taxed twice on the same income.
The Minister of Finance and Coordinating Minister of the Economy, Prof Taiwo Oyedele, disclosed this to journalists after Wednesday’s Federal Executive Council meeting, presided over by President Bola Tinubu in Abuja.
Oyedele said the agreements would promote cross-border investment, create more opportunities for Nigerian businesses operating abroad and attract additional foreign capital into the country.
He added that the government would continue to expand Nigeria’s tax treaty network to enhance the country’s competitiveness, strengthen economic ties and facilitate investment flows with key trading partners.
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