- 15 Marks
AT – Nov 2022 – L3 – Q6 – Double Taxation Reliefs and Credits
Evaluate whether Singapura PTC Limited, a Singaporean company, qualifies for tax exemption in Nigeria due to the Nigeria-Singapore double taxation agreement (DTA). Outline the benefits available under the DTA to Singaporean residents and identify scenarios where the company would still be liable for tax in Nigeria.
Question
Singapura PTC Limited, a company registered in Singapore, derived various income streams from Nigeria in 2021. Following this, the Nigerian tax office issued an assessment based on the Companies Income Tax Act, prompting Singapura PTC Limited to request an objection. The company claims that, as a Singapore resident, it should not be liable for Nigerian taxes due to the double taxation agreement between Nigeria and Singapore.
Required:
- Do you agree with the company, that its residence in Singapore qualifies it for tax exemption in Nigeria?
(5 Marks) - What are the benefits that may be available to a resident of Singapore under the double taxation agreement between Nigeria and Singapore?
(5 Marks) - State FIVE circumstances under which a company registered in Singapore will be liable to tax in Nigeria.
(5 Marks)
Find Related Questions by Tags, levels, etc.
Report an error