Turkey's Revenue Administration has issued a release confirming that an income tax treaty with Nigeria was signed on 20 October 2021, which is the first of its kind between the two countries. According to the release, the treaty provides for the following withholding tax rates:

• Dividends - 7.5%
• Interest - 7.5%
• Royalties - 7.5%

The release also notes that the treaty provides for a construction PE if construction, assembly, or installation project activities continue for 6 months or more, and that the treaty provides for exchange of information and assistance in the collection of taxes to fight against tax losses and evasion more effectively. Additional details of the treaty will be published once available.