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Nigeria Approves Signature of BEPS Multilateral Instrument

19 June 2017

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Treaty Development

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Nigeria-OECD

On 14 June 2017, the Nigerian government approved the signature of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). The initial signing ceremony for the BEPS MLI was held 7 June 2017, with 68 jurisdictions signing the agreement, and 8 formally expressing their intent to sign, including Nigeria ({News-2017-06-08/T/2- previous coverage}). Once signed and the ratification instrument deposited, a match-making process will determine which provisions of the MLI apply to Nigeria's covered bilateral tax treaties with jurisdictions that have also included Nigeria in their list of covered tax treaties.