NIGERIA’S INTERNATIONAL INVESTMENT AGREEMENTS WITH SOUTH AFRICA

CENTER FOR TREATIES OF NIGERIA

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NIGERIA’S INTERNATIONAL INVESTMENT AGREEMENTS WITH SOUTH AFRICA

Title of Instruments	Date of Signature	Effective Date [In South Africa)
Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital Gains.	24-08- 2016	2008-07-05
Agreement for the Reciprocal Promotion and Protection of Investments.		2005-07-27
Agreement on Co-operation in the Fields of Mining, Geology, Exploration and Beneficiation of Minerals and Energy.		2005-07-27
Agreement on Educational Co-operation	2000-04-29
Agreement on the Establishment of a Bi-National Commission of Cooperation	2000-04-29	2005-07-27
Trade Agreement.	2000-04-29	2005-07-27
Agreement on Co-operation in the Fields of Arts and Culture.	2001-03-14	2005-07-27
Agreement on Institutional Co-operation in the Field of Agriculture.	2001-03-14	2001-03-14
Agreement on Scientific and Technological Co-operation	2001-03-14	2005-07-27
Agreement on Immigration matters		2002-03-28
Extradition Treaty between the Government of the Federal Republic of Nigeria and the Government of the Republic of South Africa	2002-03-28	2005-01-06 (Ratification date in Nigeria)
Framework Programme on Cooperation in Science and Technology	2002-03-28	2002-03-28
Memorandum of Understanding on Bilateral Cooperation in the field of Sport and Recreation.	2002-03-28
Memorandum of Understanding on the Prevention of Counterfeiting of Postage Stamps and Meter Impressions as a means of Postage for International Mail.	2002-03-28	2002-03-28

TREATIES OF NIGERIA (INVESTMENT, CUSTOMS AND IMMIGRATION)

• HB 243: Treaty to Establish African Economic Community Relating to the Pan-African Parliament (Accession and Jurisdiction) Act (Amendment) Bill, 2015 [+]
• HB 444: Avoidance of Double Taxation (Between Federal Republic of Nigeria and Spain), Bill, 2016 [+]
• HB 445: Avoidance of Double Taxation (Between Federal Republic of Nigeria and South Korea), Bill, 2016 [+]
• HB 443: Avoidance of Double Taxation (Between Federal Republic of Nigeria and Sweden) Bill, 2016  [+]

INVESTMENT TREATY FRAMEWORK OF NIGERIA

To facilitate international investments and trade, Nigeria is a party to several multilateral and bilateral treaties. While some of them deal with investments and trade specifically, others relate to connected to ease of doing business like taxation, etc. Below is a list of Nigeria’s investment treaties.

NIGERIA’S BILATERAL INTERNATIONAL INVESTMENT AGREEMENTS

No.	Partners	Status	Date of signature	Date of entry into force	Text (Access)
1	Algeria	Signed (not in force)	14/01/2002		Full text: fr
2.	Argentina
3	Austria	Signed (not in force)	08/04/2013		Full text: en
4	Bulgaria	Signed (not in force)	21/12/1998
5	Canada	Signed (not in force)	06/05/2014		Full text: en
6	China	Terminated	12/05/1997
7	China	In force	27/08/2001	18/02/2010	Full text: en
8	Egypt	Signed (not in force)	20/06/2000		Full text: en
9	Ethiopia	Signed (not in force)	19/01/2004
10	Finland	In force	22/06/2005	20/03/2007	Full text: en
11	France	In force	27/02/1990	19/08/1991	Full text: fr
12	Germany	In force	28/03/2000	20/09/2007	Full text: en
13	Italy	In force	27/09/2000	22/08/2005	Full text: en | it
14	Jamaica	Signed (not in force)	05/08/2002
15	Korea, Republic of	In force	27/03/1998	01/02/1999	Full text: en
16	Kuwait	Signed (not in force)	23/03/2011
17	Morocco	Signed (not in force)	03/12/2016		Full text: en
18	Netherlands	In force	02/11/1992	01/02/1994	Full text: en
19	Romania	In force	18/12/1998	03/06/2005	Full text: en
20	Russian Federation	Signed (not in force)	24/06/2009		Full text: ru
21	Serbia	In force	01/06/2002	07/02/2003	Full text: sr
22	Singapore	Signed (not in force)	04/11/2016		Full text: en
23	South Africa	In force	09/04/2000	27/07/2005	Full text: en
24	Spain	In force	09/07/2002	19/01/2006	Full text: en
25	Sweden	In force	18/04/2002	01/12/2006
26	Switzerland	In force	30/11/2000	01/04/2003	Full text: fr
27	Taiwan Province of China	In force	07/04/1994	07/04/1994
28	Turkey	Signed (not in force)	02/02/2011		Full text: en
29	Turkey	Signed (not in force)	08/10/1996		Full text: en
30	Uganda	Signed (not in force)	15/01/2003
31	United Arab Emirates	Signed (not in force)	18/01/2016
32	United Kingdom	In force	11/12/1990	11/12/1990	Full text: en
33.	United States of America	In force	April 23, 2013

NIGERIA’S DOUBLE TAX TREATIES (DTTS) WITH OTHER COUNTRIES

Nigeria has concluded Double Tax Treaties, DTTs with several countries. A DTT, to be binding on Nigeria must not only be signed by the appropriate authority, but needs to approved by the Federal Executive Council and then ratified by both chambers of the Nigerian National Assembly. A company resident in a country with no Double Tax Treaty with Nigeria pays a flat With-holding Tax, WHT rate of 10% of the value of any revenue from a dividend, interest, royalties, management or technical fees transaction while their contemporaries from a DTT country pays only rate prescribed in the treaty.

	Dividend	Interest	Royalties	Management or Technical fees
Non-Treaty Nation	10	10	10	10

Below is a list of countries Nigeria has concluded DTT with. Some of the DTT, even though signed, are yet to be ratified by the National Assembly and so not fully applicable on the Nigerian side – even though it could be applicable to Nigerian companies in that country where prescribed steps for putting it into force has been concluded and was not made contingent on reciprocal ratification on Nigeria’s part.

S/N	Country	Date/Place of Signing	Date of Entry into Force	Effective Date
1.	Canada	4th August, 1992 in Abuja	16th November, 1999	1st January, 2000
2.	Pakistan	10th October, 1989 in Lagos	7th March, 1990	1st January 1991
3.	Belgium	20th November, 1989 in Brussels	1stJanuary, 1990	1st January, 1991
4.	France	27th February, 1990 in Paris	2nd May 1991	1st January, 1992
5.	Romania	21st July, 1992 in Abuja	18th April, 1993	1st January, 1994
6.	Netherlands	11th December, 1991 in Lagos	9th December, 1992	1st January, 1993
7.	United Kingdom	9th June, 1987 in London	1st January,1988	1st January, 1989
8.	China	15th April, 2005 in Abuja	21st March, 2009	1st January, 2010
9.	South Africa	29th April, 2000 in Cape Town	5th July, 2008	1st January, 2009
10.	Italy	22nd February, 1976 in Lagos	1977	1st January, 1978
11.	Philippines	30th September, 1987 in Manila	18th August 2013	1st January, 2014
12.	Czech Republic	31st August 1989 in Lagos	2nd December, 1990	1st January, 1991
13.	Slovakia	31st August 1989 in Lagos	2nd December, 1990	1st January, 1991
14.	United Arab Emirates	19 January, 2016	NA	NA
15.	Kenya	September 6, 2013.	NA	NA
16.	Mauritius	Nigeria and Mauritius signed a DTA on August 10, 2012.	NA	NA
17.	Poland	12 February, 1999	NA	NA
18.	South Korea	6 November 2006	(Legislative Ratification Pending)	NA
19.	Spain	18 November 2004	NA	NA
20.	Sweden	Signed, November 2004.	[Sweden completed ratification procedures in 2005]	December 12, 2012 (Ratified by Nigeria)
21.	Singapore	November 16, 2016.(Approved by Nigeria’s Federal Executive Council)	Yet to be approved by the National Assembly	NA
22.	Qatar	February 28, 2016 (Approved by Federal Executive Council)	Yet to be approved by the National Assembly	NA

NIGERIA: DOUBLE TAXATION RATE FOR TREATY COUNTRIES

Country-Recipient	WHT (%)
Dividend	Interest	Royalties	Management or Technical fees
Country-Recipient	WHT (%)
Dividend	Interest	Royalties	Management or Technical fees
Belgium	7.5	7.5	7.5	10
Canada	7.5	7.5	7.5	10
China	7.5	7.5	7.5	10
Czech Republic	7.5	7.5	7.5	10
France	7.5	7.5	7.5	10
Netherlands	7.5	7.5	7.5	10
Pakistan	7.5	7.5	7.5	10
Philippines	7.5	7.5	7.5	10
Romania	7.5	7.5	7.5	10
Slovakia	7.5	7.5	7.5	10
South Africa	7.5	7.5	7.5	10
South Korea *	7.5	7.5	7.5	10
Spain *	7.5	7.5	7.5	10
Sweden *	7.5	7.5	7.5	10
United Kingdom	7.5	7.5	7.5	10
Non-treaty Countries	10	10	10	10
Belgium	7.5	7.5	7.5	10
Canada	7.5	7.5	7.5	10
China	7.5	7.5	7.5	10
Czech Republic	7.5	7.5	7.5	10
France	7.5	7.5	7.5	10
Netherlands	7.5	7.5	7.5	10
Pakistan	7.5	7.5	7.5	10
Philippines	7.5	7.5	7.5	10
Romania	7.5	7.5	7.5	10
Slovakia	7.5	7.5	7.5	10
South Africa	7.5	7.5	7.5	10
South Korea *	7.5	7.5	7.5	10
Spain *	7.5	7.5	7.5	10
Sweden *	7.5	7.5	7.5	10
United Kingdom	7.5	7.5	7.5	10
Non-treaty Countries	10	10	10	10

* The tax treaties with South Korea, Spain, and Sweden are still being ratified.

NIGERIAN DOUBLE TAXATION AGREEMENTS, DTA WITH OTHER AFRICAN COUNTRIES**

	Country	Status	Date of Signature	Date of Entry into Force	Text (Access)
1.	Kenya		September 6, 2013.
2.	Mauritius		August 10, 2012.
3.	South Africa	Comprehensive	29th April, 2000	5th July, 2008 [1st January, 2009] (Effective Date)

NIGERIA AND INTERNATIONAL CONVENTIONS/PROTOCOLS (MULTILATERALS) RELATING DIRECTLY OR INDIRECTLY TO INVESTMENTS

Global Multilateral Convention/Treaty	Date of entry into force	Nigeria’s Date of Ratification or Accession
United Nations Charter
Abolition of Forced Labour Convention		1960
Basel Convention on the control of Tran boundary movement of Hazardous wastes and their Disposal		1991
Cartagena Protocol on Bio-safety		2003
Convention Against Torture & other Cruel, Inhuman or Degrading Treatment or Punishment (CAT)		2001
Convention on Biological Diversity		1992
Convention concerning Forced or Compulsory Labour		1960
Convention concerning minimum age for admission to Employment		2002
Convention concerning the Prohibition and Immediate Action for the Elimination of the worst forms of Child Labour		2002
Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW)		1985
Convention on International Trade in Endangered Species of wild fauna and Flora		1974
Conventions on Nuclear Proliferation Treaty, NPT		1968
Convention on Prohibition of the Development, Production, Stockpiling and use of Chemical Weapons and their Destruction		1999
Convention Relating to the Status of Refugees		1967
Convention on the Rights of the Child (CRC)		1991
Convention for the Suppression of the Traffic in Persons & Exploitation of the Prostitution of Others		2003
Discrimination (Employment and Occupation) Convention		2002
Equal Remuneration Convention		1974
Freedom of Association and Protection of the Right to Organise		1960
International Convention on the Elimination of All Forms of Racial Discrimination (CERD);		1969
International Convention for the Suppression of the Financing of terrorism		2003
International Covenant on Economic, Social and Cultural Rights (CESCR)		1993
International Convention on The Establishment of An International Fund for Compensation for Oil Pollution Damage		1971
International Convention for The Prevention of Pollution from Ships, 1973
International Convention on Civil Liability for Oil Pollution Damage
Kyoto Protocol to the United Nations Framework Convention on Climate change		2004
Montreal Protocol on Substances that deplete the Ozone layer		1988
Optional Protocol to the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW-OP)		2000
Optional Protocol to the Convention on the Rights of the Child on the sale of children, child prostitution and child pornography (CRC-OP-SC)		2000
Protocol against the Smuggling of Migrants by Land, Sea and Air, supplementing the United Nations Convention against Transnational Organized Crime		2001
Protocol to Prevent, Suppress & Punish Trafficking in Persons, Especially Women & Children, supplementing the UN Convention against Transnational Organized Crime Preamble, supplementing the United Nations Convention against Transnational Organized Crime		2001
Protocol Relating to the Status of Refugees 1967		1968
Right to organise and collective bargaining		1960
Stockholm Convention Against Persistent Organic Pollutants		2004
United Nations Convention against Corruption		2004
United Nations Convention against Illicit Traffic in Narcotic drugs and Psychotropic Substances		1981
United Nations Convention against Transnational Organized Crime		2001
United Nations Convention on Psychotropic Substances		1981
United Nations Single Convention on Narcotic Drugs		1969
Vienna Convention for the Protection of the Ozone Layer

NIGERIA AND AFRICAN CONVENTIONS/PROTOCOLS (MULTILATERALS) RELATING DIRECTLY OR INDIRECTLY TO INVESTMENTS

Convention/Treaty	Date of Adoption	Date of Entry into Force	Date of Signature	Date of Ratification
African Charter on Human and People’s Rights	June 1, 1981	October 21, 1986	31/08/1982	22/06/1983
African Charter on Rights and Welfare of the Child	July 1, 1990	November 29, 1999	13/07/1999	23/07/2001
African Charter on Values and Principles of Public Services and Administration	January 31, 2011	Pending	28-06-2011	Pending
African Civil Aviation Commission Constitution (Before Revision) (See Revised Version Here)	January 17, 1969	March 15, 1972	17/01/1969	08/12/1969
African Convention on the Conservation of Nature and Natural Resources (Before Review)	September 15, 1968	June 16, 1969	15/09/1968	02/04/1974
African Convention on the Conservation of Nature and Natural Resources (Revised)
African Convention on Preventing and Combating Corruption	July 1, 2003	August 5, 2006	16/12/2003	26/09/2006
African Nuclear Weapon-Free Zone Treaty (Pelindaba Treaty)	April 11, 1996	July 15, 2001	11/04/1996	20/04/2000
African Refugee Convention	Sept. 10 1969	Jan. 20, 1974		1986
African Union Convention for the Protection and Assistance of Internally Displaced Persons in Africa (Kampala Convention)	October 23, 2009	Pending	23/10/2009	Pending
African Youth Charter	July 2, 2006	August 8, 2009	02/07/2007	21/04/2009
Bamako Convention on the Ban of the Import into Africa and the Control of Trans-boundary Movement and Management of Hazardous Wastes within Africa	January 1, 1991	May 22, 2008	22/12/2008	Pending
Charter for African Cultural Renaissance	January 24, 2006	Pending	22/12/2008	18/10/2010
Constitution for the African Civil Aviation Commission (Revised Version)	December 16, 2009	May 11, 2010	01/03/2011	Pending
Constitutive Act of the African Civil Aviation Commission	Pending	Pending	Pending	Pending
Constitution of the Association of African Trade Promotion Organizations	January 18, 1974	February 1, 2010	15/10/1974	11/01/1975
Constitutive Act of the African Union	November 7, 2000	May 26, 2001	08/09/2000	29/03/2001
Convention of the African Energy Commission	July 11, 2001	December 13, 2006	Pending	22/10/2004
Convention for the Establishment of the African Centre for Fertilizer Development	July 1, 1985	Pending	24/02/1987	Pending
Cultural Charter for Africa	July 5, 1976	September 19, 1990	Pending	24/09/1986
Inter-African Convention Establishing an African Technical Co-operation Programme	August 1, 1975	Pending	Pending	Pending
OAU Convention for the Elimination of Mercenarism in Africa	July 3, 1977	April 22, 1985	10/02/1978	14/05/1986
OAU Convention on the Prevention and Combating of Terrorism	July 1, 1999	December 6, 2002	26/04/2002	28/04/2002
Organization of African Unity Charter	25 May, 1963	Pending	Pending	Pending
Protocol to the African Charter on Human and People’s Rights on the Establishment of an African Court on Human and Peoples’ Rights	June 10, 1998	January 25, 2004	09/06/2004	20/05/2004
Protocol to the African Charter on Human & Peoples’ Rights on the Rights of Women in Africa	July 1, 2003	November 25, 2005	16/12/2003	16/12/2004
Protocol to the African Court of Justice of the African Union	July 1, 2003	February 11, 2009	16/12/2003	Pending
Protocols on the African Investment Bank	June 30, 2009	Pending	Pending	Pending
Protocol on Amendments to the Constitutive Act of the African Union	July 11, 2003	Pending	02/07/2007	Pending
Protocol to the Treaty Establishing the African Economic Community Relating to the Pan-African Parliament	March 2, 2001	December 14, 2003	08/06/2001	23/12/2003
Revised African Maritime Transport Charter	July 26, 2010	Pending	Pending	Pending
Treaty Establishing the African Economic Community	June 3, 1991	May 12, 1994	03/06/1991	31/12/1991

INTERNATIONAL TAX BODIES

International Tax Dialogue, ITD

International Tax Planning Organisations, ITPO

Commonwealth Association of Tax Administrators

Low Incomes Tax Reform Group

International Tax Planning Association, ITPA

Organisation for Economic Co-operation and Development (OECD)

African Tax Administrators Forum

FIND LAWS OF NIGERIA