NASS to Review Nigeria’s Multiple Taxation

The speaker of the House of Representatives, Tajudeen Abbas, says the National Assembly (NASS) will address issues of multiple taxation in Nigeria.

He said this would be done through a bill.

Mr Abbas said this when Lee Hun Seung, the South Korean ambassador to Nigeria, paid him a courtesy call in Abuja on Tuesday.

The speaker said a committee to address the issue would be set up and that there was a mutual understanding between South Korea and Nigeria to address it to help businesses thrive.

South Korea has over 20 companies in Nigeria plus investment worth over N3 billion, stated Mr Abbas, promising the parliament’s efforts to encourage the country to do more. This, according to him, is by way of lifting the burden of multiple taxation.

Mr Abbas commended the relationship between South Korean and Nigerian parliaments since 2015. He described it as a worthy investment, adding that the focus of the 10th assembly was to strengthen the economic ties between the two countries.

Mr Abbas called on the South Korean parliament to continue collaborating with the Nigerian legislature on legislation to improve the ties between the two countries further.

He further called for increased business promotion by organising trade fare and investment in the mining and petroleum sector.

Mr Seung urged Nigeria to cement the existing economic ties, adding that South Korea is ready to help Nigeria with technology.

Mr Seung said there would be a G20 meeting in September. President Bola Tinubu would attend and discuss partnerships with the South Korean president.

The South Korean ambassador said the meeting would provide a new foundation for an improved relationship between Nigeria and South Korea.

(NAN)