Corporate tax as a utility for economic growth: challenges of compliance and enforcement in Nigeria

The economies of oil-producing countries such as Nigeria have often been affected by changes in oil prices, which directly impact on the country’s economy. Consequently, alternative sources of revenue need to be identified. This article provides an analysis of the enforcement legislation and policies within the existing Nigerian corporate tax regime. Findings indicate that the existing Nigerian corporation tax regime needs reform as there are developmental challenges that include, but are not limited to, a lack of adequate tax implementation and enforcement. Further, complex and ambiguous legislation mostly due to transplanting laws continue to thwart its success. This article concludes by recommending reforms to the Nigerian tax regime by using corporate tax as a revenue source for economic growth

The impact of COVID-19 on BAME populations: a systematic review of experiences and perspectives

Black, Asian, Minority Ethnic (BAME) populations have been disproportionately affected by COVID-19, having amongst the highest rates of infection and mortality. Additional risk factors for BAME populations include older age and living with poverty and deprivation. Information has emerged, but peer reviewed research and literature examining the experiences and/or perspectives of this most recent of diseases on BAME populations is fragmented and lacks coalescence. This systematic review will therefore bring together and integrate existing and emergent evidence around the experiences and/or perspectives of COVID-19 on BAME populations

Energy and exergy evaluation of a 220MW thermal power plant

A component based energy and exergy evaluation was performed on a 220MW thermal power plant in Nigeria. The component based exergy analysis examines and compares the energetic and exergetic performances of each component by identifying the deficiencies of each component. Design and operating data were obtained from Egbin power plant in Nigeria. The result of the analysis showed that the total exergy that was destroyed in the power p lant was 400.015 MW. The major contributors to the exergy destruction in the power plant were the boiler (87%), the three turbines (a combined total of 9%) and the condenser (2 %). The effect of increasing the High Pressure turbine (HPT) inlet temperature at constant boiler pressure incresses the exergy efficiency of the component as well as the second law efficiency of the power plant, thus reducing the exergy destruction of the component. At the variation of environmental or dead state temperature, ther e were no appreciable changes in the values of exergy efficiency of the boiler/steam generator. The outcomes of this work provide the exergy consumption and distribution profile s of the thermal power plant, making it possible to adopt effective energy - saving measures. Keywords : Energy, Exergy, Efficiency, Sustainability, Power Plant and Boilers

Legal uncertainties and foreign direct investment: a case study of Nigeria

Among the challenges for investors wishing to do business in Africa is the lack of legal certainty and rule of law which exists in many of the African countries. The lack of infrastructure, inefficient legal and regulatory systems, as well as unstable political and economic crises, have in the past and at present deterred potential investors and inhibited foreign direct investment inflows. A negative result of this is the impediment to sustainable economic growth and development. Within the global or regional area, legal systems affect cross-border business transactions for individuals and domestic and multinational corporate investors through the number of legal provisions and processes involved. A central function of the state, apart from its primary duty of care for its citizens, is to create and enforce rules that support economic growth. This article examines the legal uncertainties faced by multinational investors in Nigeria

Rebalancing double tax treaties in favour of African states

This chapter, explores double tax treaties (DTTs) in Africa and whether these treaties are still a necessity for developing African states as a means of attracting investment. It builds on the argument that the existing international tax treaty regime has been one of inequality, where developed states have taxing rights and thus benefit the most from DTTs. Tax treaties are commonly designed to avoid taxing the same profit twice by determining, when and how a treaty country can or cannot tax foreign-owned companies. Both developed and developing countries have used them with the intention of improving economic development although, the evidence to support this is weak. Nevertheless, treaties still provide significant benefits, such as exchange-of-information provisions and mechanisms for resolving disputes between taxpayers and tax administrations

Human rights and taxation in Nigeria: a case for tax justice and accountability

Human rights play an integral role in State revenue sourcing and taxation. The relevance of these ideas is twofold: first, to reinforce a State’s obligation to enact legislative measures and other regulations for the realisation of treaty rights. Second, to recommend that a foundation or premise whereby individuals are duty bound to pay taxes when necessary. One of the overarching aims or themes in the African Charter on Human and Peoples Rights is hereby explored: ‘to work to the best of his ability and competence, and to pay taxes imposed by law in the interest of the society.’ Additionally, States are obligated to protect human rights under Customary International Law and international human rights treaties. These treaties and customs ensure that States enact legislations that guarantee the enjoyment of rights and freedoms of citizens. This chapter examines whether human rights can be invoked in the debate on creating a successful tax regime in Nigeria. Recent literature and reports agree that tax and development go hand in hand to achieve the best possible human rights objectives. The authors examine the view that there is an international debate regarding whether tax revenue should be used to meet state human rights against the backdrop of Nigeria’s struggling economy. Therefore, this paper argues that Nigeria should incorporate human rights consideration in its policies on taxation. For example, a Taxpayers Bill of Rights should be developed by the relevant authorities in the country and it should explicitly incorporate human rights considerations in taxation policies and laws in the country. This chapter also argues that multinational corporations should pay their fair share of taxes in Nigeria

Development of African Union Law: tax harmonisation and regional integration towards achieving social structures in West Africa

Economic and structural development has been at the forefront of the African Union (AU) policy. The establishment of sustainable social structures is an integral part of the development agenda for AU Member States. Certain factors including poverty, corruption, capital flight and tax avoidance have affected the ability of Member States to create sustainable social structures for their population This chapter examines how tax harmonisation through continental integration can lead to a sustainable revenue source to develop and maintain social structures in Africa. It also argues that the development of an AU Law in taxation the Union through its Regional Economic Communities (RECs) can achieve this aim. This is illustrated by using the Economic Community of West African States (ECOWAS) as an example drawing from the experiences and possible success of the West African Monetary and Economic Union (WAEMU) in tax harmonisation

Taxation and the implementation of sustainable development goals in Nigeria

This book explores Nigeria’s progress towards achieving the Sustainable Development Goals, presenting key country-specific lessons, as well as providing innovative solutions and practices which are transferrable to other emerging economies. Despite all of Nigeria’s potential, and substantial oil revenues, poverty remains widespread and the country faces many challenges. The contributors to this book provide comparative historical and contemporary analysis of the main challenges for achieving progress in the SDGs, and make recommendations for the most effectives ways of developing, adopting, disseminating and scaling them. Starting with the conceptualisation and evolution of the SDGs, the book goes on to consider the goal on ending poverty, and the urgent need to combat climate change and its impacts. The book also reflects on the role of business and taxation, and the cultural and societal dimensions of the SDGs, including education, gender, and the role of the church. Overall, the book focuses on knowledge/implementation gaps and the role of collaborative partnerships and disruptive technologies in implementing the framework in general. This book will be of interest to scholars, policy makers and practitioners of sustainable development and African studies, as well as those with a particular interest in Nigeria

AfCFTA and lex mercatoria: reconceptualising international trade law in Africa

This paper focuses on the Agreement for the Establishment of the African Continental Free Trade Area (AfCFTA). It argues that commercial activities in precolonial Africa was akin to the phenomenon of lex mercatoria in medieval Europe. It discusses two major tenets embedded in the AfCFTA: the variable geometry principle and the dispute settlement mechanism. It argues that for structural and comparative purposes, these principles (variable geometry and dispute settlement) form the kernel of modern lex mercatoria in the African context. This paper concludes by advocating that the AfCFTA will enhance the principles of lex mercatoria by promoting African trade principles.N/