The Memorandum of Understanding on Double Taxation between Nigeria and Kenya: An Appraisal
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Date
2015
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Publisher
African Nazarene University, Kenya
Abstract
it is the practice in most states for income tax to be imposed both on world wide income derived by residents of the country and on income derived by non-residents generated within the country. The effect of such a system is that income derived by residents of one state from a source in another country is subject to tax in both states. This position clearly discourage foreign investment, hence the conclusion of double taxation treaties between states. The focus of this paper is, therefore on appraisal of the memorandum of understanding on double taxation recently concluded between Nigeria and kenya. the paper argues that that the memorandum of understanding if effectively implemented , will boost trade and economic development through increased generation of revenue from taxation. The paper further elucidates the jurisprudential basis of double taxation treaties by states and proceeds to undertake a critical analysis of the Memorandum of understanding between countries.
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Keywords
income tax, resident, tax, double, memorandum
Citation
(2015) 3 (1) ANULJ