Reps Move to Address Multiple Taxation

The Speaker of the House of Representatives, Tajudeen Abbas, has said the 10th National Assembly has resolved to address issues surrounding multiple taxation in the country.

He said this would be done through a bill that would address the anomaly.

Abbas said this when Mr Lee Hun Seung, the South Korean Ambassador to Nigeria, paid him a courtesy call in Abuja on Tuesday.

He said a committee to address the anomaly had been set up, adding that there was a mutual understanding between the two countries to address it so as to help businesses thrive.

South Korea has over 20 companies in Nigeria plus investments worth over N3 billion, adding that it would augur well to encourage the country to do more.

This, according to him, was a way of lifting the burden of multiple taxes.

He commended the relationship that had existed between the South Korean and Nigerian parliaments since 2015.

He described it as a worthy investment, adding that the focus of the 10th Assembly was to strengthen the economic ties between the two countries.

He called on the South Korean parliament to continue to collaborate with the Nigerian parliament on legislation that would further improve ties between the two countries.

He further called for increased business promotion by organising trade and investment in the mining and petroleum sectors.

Speaking, Seung urged Nigeria to cement the economic ties between the two countries, adding that it was ready to help Nigeria in the area of technology.

He said since Korea has technology, it would be willing to establish a partnership that would benefit the two countries, adding that Nigeria had the largest trading partner on the African continent.

He said in September there would be a G20 meeting and President Bola Tinubu would attend, adding that the South Korean President and Tinubu would have further discussions on partnership.

He said the meeting would provide a new foundation for more relationships between Nigeria and South Korea while congratulating the President on his election victory.