Nigeria, Hong Kong Seal Tax Treaty to Prevent Double Taxation

Nigeria, Hong Kong Seal Tax Treaty to Prevent Double Taxation
Oyedele described the agreement as a major milestone in the growing economic and commercial relationship between Nigeria and Hong Kong
The treaty is expected to eliminate double taxation on income earned in both jurisdictions, prevent tax evasion and avoidance

The Federal Government has signed a bilateral agreement with the Hong Kong Special Administrative Region of the People’s Republic of China to eliminate double taxation on income and strengthen efforts to prevent tax evasion and avoidance.

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Eko Hot Blog reports that the agreement was signed virtually by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, on behalf of Nigeria, while Mr. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, signed for the Hong Kong Special Administrative Region.

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Announcing the development, Oyedele described the agreement as a major milestone in the growing economic and commercial relationship between Nigeria and Hong Kong.

He said the treaty reflects Nigeria’s commitment to building a transparent, predictable and investor friendly tax system that supports trade, investment and sustainable economic growth.

According to the minister, the agreement comes at a crucial time as Nigeria continues to deepen its integration into global value chains and expand economic partnerships across Asia.

He described Hong Kong as a leading global financial and commercial hub, expressing confidence that the agreement would encourage greater private sector collaboration and unlock new investment opportunities between both jurisdictions.

Oyedele also commended the negotiation teams from Nigeria and Hong Kong for their professionalism and dedication, noting that the treaty aligns with international best practices while protecting the interests of both parties.

He thanked the Government of the Hong Kong Special Administrative Region and all stakeholders who contributed to the successful conclusion of the agreement.

The treaty is expected to eliminate double taxation on income earned in both jurisdictions, prevent tax evasion and avoidance, and provide greater certainty for businesses and investors operating between Nigeria and Hong Kong.

It also forms part of Nigeria’s broader strategy to expand its network of tax treaties, attract foreign investment and strengthen international tax cooperation.