The Govt Chairman of the Federal Inland Income Service, Dr. Zacch Adedeji, right this moment hosted a delegation led by His Excellency Bengt van Loosdrecht, Ambassador of the Kingdom of the Netherlands to Nigeria, for the opening ceremony of the renegotiation of the Double Taxation Settlement between Nigeria and the Netherlands. The occasion came about on the Income Home in Abuja and marked the start of a brand new part in Nigeria’s worldwide tax relations.
Following the signing of the Tax Reform Invoice into legislation by President Bola Ahmed Tinubu (GCFR) on June 26, 2025, curiosity in Nigeria’s new tax construction has already began to develop. In lower than per week, each native and worldwide stakeholders have begun to reply. Amongst them is the Kingdom of the Netherlands, one in all Nigeria’s long-standing commerce and funding companions, which is now the primary international authorities to start formal talks with Nigeria to renegotiate its present tax settlement. The goal is to deliver the settlement according to the brand new reforms and take away outdated phrases, particularly these regarding double taxation which not mirror the present realities.
Dr. Zacch welcomed the delegation on behalf of the President, Authorities, and folks of the Federal Republic of Nigeria. He described the go to as well timed, particularly contemplating latest adjustments in each home and international tax programs.
He mentioned; “Current developments within the home and international tax panorama have made the evaluate of the prevailing settlement unavoidable. Notably the tax reforms being carried out by our authorities, international measures in opposition to Base Erosion and Revenue Shifting (BEPS), and different evolving worldwide tax requirements will render extant settlement out-of-date.”
He additional emphasised that the discussions align with the coverage course of the present administration and mirror Nigeria’s dedication to a clear and truthful course of;
“This renegotiation meets with the coverage aims of the continuing fiscal and tax reforms initiated by the administration of President Bola Ahmed Tinubu. We’re dedicated to broadening the home tax base, strengthening tax administration, and guaranteeing that our tax system helps inclusive financial development.”
In his comment, the Ambassador of the Kingdom of the Netherlands to Nigeria, His Excellency Bengt van Loosdrecht, expressed appreciation for the nice and cozy welcome and highlighted the spirit of cooperation guiding the negotiations.
He famous; “The truth that we meet right here right this moment is a sign of the goodwill and the nice religion wherein we need to meet with one another. And I can guarantee you that my colleagues from the Netherlands will act in good religion. That’s at all times an essential foundation for good negotiations.”
Reflecting on the character of treaty talks, he expressed optimism in regards to the course of and the groups concerned;
“In the end, a treaty is about discovering widespread floor and constructing upon that widespread floor. I do know each of our sides have very competent, skilled groups, and I’m assured we may have a really fruitful week.”
The tax reform payments just lately signed into legislation embrace the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Income Service (Institution) Act, and the Joint Tax Board (Institution) Act. These Acts restructure how taxes are managed in Nigeria.
The subsequent six months can be used to harmonize tax knowledge, implement the newly signed legal guidelines, and put programs in place forward of the January 1, 2026 takeoff of the Nigeria Income Service. This transition interval may even cowl the evaluate of present tax agreements to make sure they mirror the provisions of the brand new reforms.
