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A Critique of the Deposit Requirement in Order V Rule 1 of the Federal High Court (Tax Appeal) Rules, 2022
0₦2,500.00Muhammad Abdulmumin, Ayolola Ayodeji and Ijeoma Ubechu, all of Babalakin & Co, in their article, A Critique of the Deposit Requirement in Order V Rule 1 of the Federal High Court (Tax Appeal) Rules, 2022, examine the provision of the Federal High Court (Tax Appeal) Rules 2022 (the FHCTAR) which introduces the compulsory payment of security deposits by appellants (taxpayers/tax debtors) who seek to prosecute appeals from the Tax Appeal Tribunal to the Federal High Court. Abdulmumin et al in their brilliant article, critically review Order V Rule 1 of the FHCTAR, its constitutionality, and other relevant legal issues.
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Counting the Cost and Consequences: Lessons for Nigeria from Canada, South Africa, and the UK, on Small Companies’ Income Tax Rates
0₦2,500.00Stanley Omotor, senior consultant at KPMG Law LLP Canada, a law firm affiliated with KPMG LLP Canada, in his article, Counting the Cost and Consequences: Lessons for Nigeria from Canada, South Africa, and the UK, on Small Companies’ Income Tax Rates, examines the small companies zero corporate income tax (CIT) rate in Nigeria, in comparison with similar tax incentives existing in Canada, South Africa, and previously in the United Kingdom. Omotor shows that contrary to reasons often canvassed by policymakers for introducing zero and low CIT rates, evidence shows that the implications of such CIT rates often defeat the purpose for their introduction because such CIT rates result in unintended consequences to the tax system by encouraging tax arbitrage behaviours and inappropriate tax avoidance arrangements. Drawing from the experiences of other countries, Omotor posits that it is not a good idea to provide zero CIT rates for small businesses in Nigeria, given its severe implications for the Nigerian economy.
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Contract Management and Disputes Avoidance in the Nigerian Construction Industry
0₦2,500.00Doyinsola Kazeem of the African Finance Corporation and a postgraduate student of Construction Engineering at the University of Cambridge, and Ibrahim Haroon, Associate at G. Elias, in their article, Contract Management and Disputes Avoidance in the Nigerian Construction Industry, observe that the construction industry in Nigeria has been growing at a breakneck pace. A significant impediment to growth in the industry is the rising number of disputes. Practitioners struggle with avoiding disputes at the three stages of construction: pre-contract, contract and post-contract. There are proven toolkits that can assist with dispute avoidance in the construction industry in Nigeria. Kazeem and Haroon focus on mechanisms and toolkits that practitioners can adopt to avoid disputes in the Nigerian construction industry.
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The Enforcement of Foreign Jurisdiction Clauses of Contracts in Nigeria
0₦2,500.00Uche Val Obi SAN, Izuchukwu Okpara and Moyinoluwa Adegoroye, all of the Alliance Law Firm, in their article, The Enforcement of Foreign Jurisdiction Clauses of Contracts in Nigeria, note that the inclusion of foreign jurisdiction clauses in contracts has become a common trend in international commercial transactions. Since most parties are often not familiar with the laws of their foreign counterparts and are sceptical about getting a fair trial in the latter’s jurisdiction when a dispute arises, the option of a usually neutral foreign jurisdiction clause, therefore, is cardinal when considering the risks associated with contractual relationships. Uche Obi SAN et al consider the meaning and nature of contracts, foreign jurisdiction clause as a term of a contract, and its enforcement in England and Nigeria, with particular focus on the attitude of Nigerian Courts to the enforcement of foreign jurisdiction clause as a term of a contract. They opine that while the Supreme Court has consistently upheld and enforced foreign jurisdiction clauses, the lower courts have often refused to do so because they perceive those clauses to be ouster clauses.
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The Gravitas Review of Business & Property Law Vol.13 No.3 – Print
0₦5,000.00In this issue of The Gravitas Review of Business & Property Law Vol.13 No.3, there are well researched articles on:
- Arbitration
- Litigation Practice & Procedure
- Maritime Law
- Corporate Law & Practice
- Competition Law
- Commercial Law & Practice
- Banking Law & Practice
- Taxation
- Intellectual Property
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The Gravitas Review of Business & Property Law Vol.13 No.3 – E-Book
0₦5,000.00In this issue of The Gravitas Review of Business & Property Law Vol.13 No.3, there are well researched articles on:
- Arbitration
- Litigation Practice & Procedure
- Maritime Law
- Corporate Law & Practice
- Competition Law
- Commercial Law & Practice
- Banking Law & Practice
- Taxation
- Intellectual Property
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The Gravitas Review of Business & Property Law Vol.13 No.3
0₦5,000.00In this issue of The Gravitas Review of Business & Property Law Vol.13 No.3, there are well researched articles on:
- Arbitration
- Litigation Practice & Procedure
- Maritime Law
- Corporate Law & Practice
- Competition Law
- Commercial Law & Practice
- Banking Law & Practice
- Taxation
- Intellectual Property
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An Examination of Copyright Protection of Artificial Intelligence Generated Works in Nigeria
0₦2,500.00Tertsea Joo of Matrix Solicitors in his paper, An Examination of Copyright Protection of Artificial Intelligence Generated Works in Nigeria, notes that the world has witnessed an exponential increase in Artificial Intelligence (AI) which has featured in different facets of life like automated financial investing and trading, virtual travel booking agents, self-driving cars, and automated artworks, amongst others. With this technological advancement, it has become imperative to consider the issue of granting copyright protection to AI-generated works. Tertsea examines the Nigerian law on copyright protection alongside a few other jurisdictions to determine whether AI-generated works meet the Authorship, Ownership and Originality thresholds of copyright protection, the desirability or otherwise of copyrighting AI-generated works and in whom the rights should be vested – whether in the AI Programmer or User as well as who bears liability for copyright infringement by AI-generated works.
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The Propriety of the ‘Comply Before Complain Rules’: Wherein Lies the Fundamental Rights of the Taxpayers?
0₦2,500.00Ifeanyi Ujah, a legal practitioner and tax consultant, in his article, The Propriety of the ‘Comply Before Complain Rules’: Wherein Lies the Fundamental Rights of the Taxpayers? observes that there has recently been a flurry of rules and legislation which directly circumscribes the taxpayers’ fundamental right to access the Tax Appeal Tribunal and the courts to contest the assessment or determination of their tax liabilities. This is a result of the introduction of the “obey before complain rules” found in the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007 (FIRS Act), the Tax Appeal Tribunal (Procedure) Rules 2021 (TAT Rules), the Federal High Court of Nigeria (Federal Inland Revenue Service) Practice Directions 2021 (FHC-FIRS-PD) and the Federal High Court (Tax Appeal) Rules 2022 (FHC-TA Rules). Ujah examines the validity of these provisions as well as their impact on the rights of taxpayers to access justice.
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Carbon Taxation as a Lever for Advancing Environmental Pollution Control in Nigeria
0₦2,500.00Dr Kayode Oyende, Senior Lecturer, Department of Public and Private Law, Lagos State University, Nigeria in his article, Carbon Taxation as a Lever for Advancing Environmental Pollution Control in Nigeria, explains that a carbon tax is imposed on the price of carbon and its products, which have been established to be responsible for emissions arising from the burning of carbon products, thereby leading to the increase in Green House Gases. Dr Oyende notes that environmental pollution and degradation have arisen because of the indiscriminate destruction of the environment due to the anthropogenic activities of humans in their quest for development. These activities, if not checked, will lead to increased carbon emissions. Carbon taxation is one of the ways of checking this menace by imposing taxes on the production of these carbon-causing substances.
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Checkmating the Unconventional Loan Recovery Tactics of Digital Loan Sharks
0₦2,500.00Michael Ogunjobi of the Chambers of Norrison I. Quakers SAN, and member of the Chartered Institute of Loan and Risk Management, Nigeria, in his article, Checkmating the Unconventional Loan Recovery Tactics of Digital Loan Sharks, notes that the conduct of some digital loan fintech companies – calling/texting contacts of defaulters for the sole purpose of threatening, accusing, disgracing, and subjecting them to public ridicule through the circulation of pictures and details on social media and practically conducting extra-judicial criminal trial cum conviction amongst others – has gained ground. Admittedly, the grant of loans is accompanied by consequences upon default. However, parties cannot, by agreement, seek to enforce a contract by resorting to illegalities during debt recovery. Ogunjobi examines the legal and regulatory framework of operation of digital loan fintech companies in Nigeria and steps that can be taken by both the authorities and consumers to checkmate their hideous loan recovery practices.
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Examining the Early Warning System as an Essential Risk Management Tool in Engineering and Construction Projects
0₦2,500.00Osinachi Nwandem, Senior Associate Aluko & Oyebode and Fellow of the Institute of Construction Industry Arbitrators, in his article, Examining the Early Warning System as an Essential Risk Management Tool in Engineering and Construction Projects, considers the early warning system as an indispensable risk management tool in construction projects. He contends that while the extension of time and additional payment mechanisms in construction contracts appear to compensate the Contractor during supervening events, these mechanisms are only deployed after the event. Nwandem observes that the workings of the early warning system help to identify and resolve events that could give rise to a potential delay or monetary claim. Given the striking benefits of the early warning system in a construction project, he shares guidance on designing an efficient early warning system in a construction contract.
