The income and capital tax treaty between Nigeria and South Korea was initially reported to have entered into force on 21 March 2015, but the Korean government subsequently announced that Nigeria has not yet completed the required domestic ratification procedures. The treaty, signed 6 November 2006, is the first of its kind between the two countries. Taxes Covered The treaty covers Nigerian personal income tax, companies income tax, petroleum profits tax, capital gains tax, education tax, and other taxes on income and capital gains. It covers Korean income tax, corporation tax, inhabitant tax where charged by reference to the income...