Abbas: We’ll revisit bill to eliminate double taxation of companies operating in Nigeria, South Korea

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Tajudeen Abbas, speaker of the house of representatives, says the lower chamber will revisit a bill seeking to eliminate double taxation of companies operating in Nigeria and South Korea.

According to a statement issued by Musa Krishi, his adviser on media and publicity, Abbas spoke when a delegation from the South Korean embassy to Nigeria and the 21st national assembly of South Korea visited him at his office in Abuja on Tuesday.

He, therefore, called for increased collaboration between the parliaments of both countries to “strengthen areas that require legislative actions in our budding relations.”“There was a mutual understanding to initiate a treaty against double taxation on the businesses of both Nigeria and South Korea which, though passed by the National Assembly, was not assented to by the then President of Nigeria,” Abbas said.

“With over 20 Korean companies in Nigeria, such as Samsung, LG and Daewoo, and investments worth over $2billion, it is an enormous contribution to the economy of Nigeria.“The recent Korean Government supply of a vessel to the Nigerian Navy confirms the deep mutual relations, which the 10th House will do everything to sustain.”

 

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