In a move that demonstrates renewed International confidence in the Nigerian Economy, the Executive Chairman of the Federal Inland Revenue Service, Dr. Zacch Adedeji, received a delegation from the Kingdom of the Netherlands led by Ambassador Bengt Van Loosdrecht.
The visit signalled acceptance of the economic policies of the present administration following the bold fiscal and tax reforms introduced through the recently signed Tax Bills by President Bola Tinubu.
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Central to the visit was the renegotiation of the Double Taxation Agreement (DTA) between both countries, a move consistent with the push for greater tax transparency, fairness and alignment with global standards to tackle Base Erosion and Profit Shifting (BEPS).
Highlights of the Meeting include the renegotiation of the Double Taxation Agreement between Nigeria and the Netherlands and Commitment from both countries to strengthen longstanding diplomatic and economic ties.
The agreement which ensures tax certainty and prevents double taxationfor individuals and businesses operating across both nations also aligns with global best practices for modern, transparent tax systems as outdated agreements are rendered obsolete by global BEPS actions.
