Browsing by Author "Ahmed Olatunji Isau"

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    The International Court of Justice: Jurisdictional Basis and Status.
    (Faculty of Law, Ajayi Crowther University, Oyo., 2016) Ahmed Olatunji Isau
    The emergence of independent and sovereign States in the world necessitated the need to ensure peaceful co-existence among these independent States as none of these States is willing to submit to the will of the other. Accordingly, since there were no commonly accepted standards of conduct among these States, there are tendencies of collisions, and the use of force or war to press home their demands is very possible. Bearing this in mind, the United Nations at its inception in 1945 established the International Court of Justice (ICJ) as a successor to the Permanent Court of International Justice established by the League of Nations after the conclusion of the First World War. The ICJ commonly referred to as the ‘World Court’ is one of the principal organs and the primary judicial branch of the United Nations saddled with the responsibility of resolving legal disputes submitted to it by States that have accepted its jurisdiction. This article will therefore examine the status and jurisdiction of the ICJ and also examine the key features and provisions of the Statute of the ICJ. The criticisms against the ICJ will equally be examined and appropriate recommendations will be made.
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    Transfer Pricing: The Nigerian Perspective
    (The Brooklyn Research and Publishing Institute, 2014) Ahmed Olatunji Isau
    Transfer pricing is a result of globalization and international trade. The tax authorities in virtually all major countries are focused on transfer pricing as a mechanism for preventing tax avoidance and as a means of ensuring that a reasonable basis is employed to identify and extract economic benefits of business operations in their jurisdictions. Over the last decade, Nigeria has experience tremendous increase in the establishment of Multinational Companies. While this is good for the development of the Nigerian economy, there is also the need for the Government to ensure that prices of intra-company transactions are set at the right prices and that transfer pricing is not employed as a tool of tax avoidance. To avoid mis-pricing and potential loss of tax revenue, the Nigerian Government enacted the Income Tax (Transfer Pricing) Regulations 2012 which adopted the OECD model on Transfer Pricing. This article will therefore attempt to examine, appraise and highlight the major provisions of the Income Tax (Transfer Pricing) Regulations 2012 and make appropriate recommendations. The significance of this article is that it will educate corporate taxpayers in Nigeria and foreign investors as well as their advisors on the new transfer pricing legislation.