According to an update on effective treaty withholding rates published by South Korea's National Tax Service, the income and capital tax treaty with Nigeria is not yet effective, despite an announcement earlier in 2015 that the treaty entered into force on 21 March 2015. The treaty, signed 6 November 2006, has been ratified by South Korea, but Nigeria reportedly failed to complete the required domestic procedures. Completion of the procedures is expected in the near future.
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