Update - Tax Treaty between Nigeria and Turkey

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, a…