An Examination Of The Taxation Of Multinational Corporations And Its Legal Effects On Foreign Investments In Nigeria

An Examination Of The Taxation Of Multinational Corporations And Its Legal Effects On Foreign Investments In Nigeria

ABSTRACT

Taxation is the key to a sustainable development. This is because no government can survive without sufficient revenue to finance its activities. This explains why revenue generation is one of the basic objectives of taxation. This actually prompts the analysis of multinational corporate taxation in Nigeria so as to see the effects of corporate investments contribution to foreign investments in Nigeria. Also, the aim of bilateral tax treaty entered into between the Federal Republic of Nigeria and other foreign countries is to encourage economic growth by mitigating international double taxation and other barriers to cross border trade and investment, and to improve tax administration between the contracting nations. The enabling environment created through generous fiscal policies is expected to increase the level of direct foreign investment in Nigeria beyond its present level. On the contrary what obtains are divestments cum capital flight out of the country, it is therefore in line with the above that this study seeks to examine the effects of Nigeria fiscal policies on foreign investment in Nigeria. Therefore, the objective of the study is to examine the extent to which tax incentives have impacted on direct foreign investment in Nigeria; To evaluate the adequacy or otherwise of the present legal regime on corporate taxation and proffer possible necessary reform to the laws; analyze the relationship between taxation and direct foreign investment in Nigeria; to find out who are these multinational corporations that are subject to corporate taxes that can be granted tax reliefs to attract foreign investments into Nigeria. Thus, this study posit that, by identifying the multinational corporations subject to corporate tax, foreign investment opportunities will be created under the Nigerian corporate laws that will attract foreign investments to Nigeria which will boost the revenue development in Nigeria. The old standard of corporation tax, the manual assessment and enforcement procedures cannot meet up with the fast- changing commercial activities of the companies. This consequently creates administrative ineptitude which to a large extent adversely affects revenue generation in Nigeria. There is therefore the need to probe into how the developments have affected our domestic corporate taxation. The study applies the doctrinal methods of research to achieve this and recommends that, Nigeria and United Kingdom and other countries double taxation treaties on multinational corporations be reviewed in line with International best practices by designing sound tax policy, good corporate governance, good tax incentives to encourage investments and amending Nigerian tax laws to guarantee these objectives.

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A Comparative Analysis Of Nationality Law in Africa

A Comparative Analysis Of Nationality Law in Africa

Citizenship  laws in Africa leave many millions of people at risk of statelessness. It is impossible to put an accurate figure on the numbers affected, but stateless persons are among the continent’s most vulnerable populations: they can neither vote nor stand for office; they cannot enrol their children in school beyond primary school, travel freely, or own property; they cannot work for the government; and they are exposed to human rights abuses and extortion. Statelessness exacerbates and underlies intercommunal, interethnic and interracial tensions in many regions of the continent.

This comparative study provides a comprehensive analysis of the provisions of the citizenship laws of all 54 African states, identifying those that are not in compliance with international law and therefore leave many without a recognised nationality. While administrative practice may mean that stateless people exist even in a country with good laws, bad laws guarantee that statelessness will result.

Few African countries provide for an explicit right to a nationality in their constitutions and other legislation, even for children born on their territory who would otherwise be stateless—even though this provision is required by the African Charter on the Rights and Welfare of the Child, to which almost all African states are parties. Perhaps more importantly than this absence of a statement of principle, citizenship laws too often do not include the measures that in practice protect against statelessness.

The factors that are the main contributors to statelessness in Africa are:

 

  • Gender discrimination: Although there is a strong trend to remove gender discrimination in nationality law, the laws of almost half of Africa’s states still discriminate against women in the right to transmit their nationality either to their foreign spouses and/or to their children if the father is not a
  • Racial, ethnic or religious discrimination: The laws of around ten states explicitly discriminate on grounds related to race, ethnicity or Racial and ethnic discrimination in the law leaves those who are not perceived to be of the “right” racial or ethnic group at risk of statelessness, especially where combined with discrimination on the basis of sex and the father is from another group.
  • Nomadic and cross-border populations: Africa has many millions of people following a nomadic lifestyle, whose traditional grazing grounds for livestock or other places of residence may lie in two or more There are also many ethnic and other communities whose cultural,

 

 

 

linguistic, religious or other ties, including pre-colonial political histories, lie on both sides of a contemporary border. African states’ nationality laws, policies and administration are often ill-adapted to take account of these realities.

  • Dual nationality rules: The majority of African states now permit dual nationality in all However, rules on dual nationality are easily misunderstood or misinterpreted, especially for persons who potentially have two nationalities from birth. They have often been used to deny children born to one non-citizen parent the right to nationality in the country of their birth, even when in principle the child is eligible for that nationality.
  • Weak rights based on birth in the territory: Although the nationality laws in more than half of the continent’s states provide at least some rights based on birth in the territory for children of non-citizen parents, the remainder have very weak protections against statelessness, in some cases not even providing nationality for infants found in the territory whose parents are not Countries where there are very limited rights based on birth in the territory typically have large populations of people who are stateless.
  • Lack of access to naturalisation: Another cause of statelessness is the failure by many states to provide effective access to naturalisation If a parent cannot naturalise, and the state also provides no rights based on birth in that territory, a child born to non-citizen parents is at high risk of statelessness, especially where the state of origin provides no effective consular services and especially if the parents are refugees—a risk that increases with each generation.
  • Provisions on state succession: Many countries in Africa face continuing problems related to poor management of attribution and documentation of nationality in the transition from colonial rule to State successions since independence have also failed to provide legal and administrative safeguards for the nationality of those who live in a territory transferred between two states.
  • Non-existent systems for the protection of stateless persons: It is very rare for an African state to have a legal framework in place to identify and provide a status for stateless persons and facilitate their acquisition of a
  • Excessive executive discretion: A final critical problem is the widespread lack of due process protections, especially when the government wishes to revoke or refuse the grant or recognition of The laws in too many countries give almost unfettered discretion to the executive in nationality administration, which in practice may mean that very junior state officials responsible for birth registration and the issue of identity cards are deciding the critical right of a person to nationality.

Many nationality problems are, of course, related to Africa’s history of colonisation and the inheritance of borders that cut through pre-existing political boundaries, and institutions that had been founded on systematic racial and ethnic discrimination. The nationality laws adopted at independence were based on European models, all of which discriminated on the basis of gender at that time and were ill-adapted for African realities, including the very low rates of civil registration bequeathed by the colonial powers, the substantial numbers of people who follow a nomadic lifestyle, or the effective integration of populations who migrated during the colonial period.

The recommendations in this report, which draw on widespread expert consultation, call on African states to address the problems of nationality that the continent’s history of colonisation and migration has created and bring their nationality laws into line with international human rights norms. They should support the proposal of the African Commission on Human and Peoples’ Rights for the adoption of a protocol to the African Charter on Human and Peoples’ Rights on the Specific Aspects of the Right to a Nationality and the Eradication of Statelessness in Africa. The African Union and its Regional Economic Communities should lead a process to harmonise national laws and to ensure their compliance with the basic principles of non-discrimination and due process already enshrined in the African Charter on Human and Peoples’ Rights and in the African Charter on the Rights and Welfare of the Child. The proposed draft protocol, as well as the General Comment of the African Committee of Experts on the Rights and Welfare of the Child on the right to a name, birth registration and a nationality, already provide guidance on the provisions that national laws should contain.

These include, most importantly:

  • The removal of discrimination on the basis of gender, race, ethnicity, religion, or other grounds prohibited in the two African Charters, including on the basis of birth in or out of
  • Guarantees that all children have the right to a nationality from Nationality laws should, at a minimum, provide for nationality to be attributed from birth not only to a child with a father or mother (including adoptive father or mother) who is a national, but also to a child who cannot obtain recognition of the nationality of his or her parents, or whose parents’ nationality is not known, as well as a child found in the territory of unknown parents. Much stronger guarantees against statelessness are provided where laws also give rights to nationality to those born in the territory who are still resident at majority or who have one parent also born there.
  • Reform of rules on naturalisation to make it possible for an adult, including a refugee, to change nationality and become a full member of the society where he or she lives—and to transmit that nationality to his or her
  • Effective oversight of executive discretion, with routes for administrative or judicial review of decisions to refuse recognition or deprive a person of
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“THE PENAL RESPONSIBILITY AND SANCTIONS FOR VIOLATIONS OF INTERNATIONAL HUMANITARIAN LAW

“THE PENAL RESPONSIBILITY AND SANCTIONS FOR VIOLATIONS OF INTERNATIONAL HUMANITARIAN LAW

Abstract:

During this century, millions of children, women and men have been victims of unimaginable atrocities in the threatre of wars that deeply shook the conscience of humanity. It is against this background that an analysis of the penal responsibility and sanctions for violations of International Humanitarian Law becomes necessary. The first chapter is a general introduction which highlighted all the core issues to be discussed and analysed in the course of this research work. The second chapter will examine the definition of crimes under international law, war crimes and the prosecution of war criminals which has become so vitally important to stem the impunity with which violations international humanitarian law go unpunished. The general scheme of repression codified in the four Geneva Conventions of August 12, 1949 and its Additional Protocols of 1977, International Criminal Tribunals for the former Yugoslavia and Rwanda and the Rome Statute of International Criminal Court will equally be examined. – 7 – Chapter three espouses the theory of state and individual responsibility under international law. It takes into cognizance that international humanitarian law establishes not only basic rights of the individual, but also contains important machinery for guaranteeing observance of these rules, imposes obligation necessary to repress any act constituting a serious infringement on personal dignity or a grave threat to the security of the civilian population. Though the prosecution of war criminals after World War I was largely ineffectual, coupled with the different interpretations given to the November trial with regard to the position of individual under international law. Chapter four establishes that whatever the case may be regarding the position of the individual under international law after the Nuremberg trials through the creation of the two ad hoc international criminal tribunals for the former Yugoslavia and Rwanda, the United Nations Security Council took a great leap forward and established, beyond doubt, that individuals may now, with respect to international humanitarian law, appear as subject bound by certain legal obligations directly under international law, and can be held individually responsible. – 8 – The main thrust of chapter four is the examination of the elaborate penal regime and the concomitant sanctions in the Geneva Conventions and the Additional Protocols, the International Criminal Tribunals for Yugoslavia and Rwanda and finally the Statute of International Criminal Court. Chapter five will examine the fundamental issue of which court has jurisdiction to prosecute the breaches of international humanitarian law against the backdrop that despite all the indignation aroused by the crimes, the international criminal tribunals are called upon to prosecute, the accused must be accorded the right to a fair hearing or trial. It takes cognisance of the fact that the effective humanitarian law and respect for human rights are complementary and indispensable to each other. They both contribute in upholding the rule of law. It is our conviction that research on the penal responsibility and sanctions for breaches of international humanitarian law cannot be complete without according a pride place to international committee of the Red Cross that informed the elaborate discussion on the same in Chapter six before concluding the research work and proffering the way forward

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THE LEGAL PERSPECTIVE TO CAPITAL RECONSTRUCTION OF BANKS IN NIGERIA

THE LEGAL PERSPECTIVE TO CAPITAL RECONSTRUCTION OF BANKS IN NIGERIA.

Abstract:

It is generally accepted that banks are inevitable component of an economic system and that the capital of a bank is the foundation on which it stands. This foundation has continued to witness dynamic changes leading to crisis that often threaten to rock the foundation of our banking system. At each of the point the crisis the depositors had always turned to the state and the central Bank of Nigeria (CBN) for help. Unfortunately the two have no coordinated resolution scheme that would punish those responsible for depositors and other creditor’s woes and at the same time save money for the state or taxpayer from the cost of resolution of the crisis. It has therefore become necessary to examine the legal perceptive to rehabilitation of this basic aspect of our banks and the banking system particularly the challenges faced by the institutions responsible for bank’s capital reconstruction during and after crisis The major player in resolution of banking crisis –the CBN has just two major tools for crisis management namely the power of liquidation and the power of lender of last resort. The exercise of power of liquidation has a direct negative impact on the depositors’ confidence especially where depositors have lost money to a failing or failed bank. The power of lender of last resort guarantees that no depositors lose money to failing or failed bank but it leaves a lot of legal and moral issues unresolved. The first issue is that the cost of repaying the depositor fund is borne by the tax payers’ money instead of the bank management that are often responsible for mismanagement of the bank’s capital that lead to the crisis. Secondly the criminal legal system often does not punish the perpetrators of fraud and mismanagement leading to either liquidation or spending of tax payers’ money. The result is that instead of strengthening the corporate governance culture in the banks in the system, the lender of last resort tends to encourage carelessness frauds and mismanagement in the banking system. This therefore calls for extension of the roles of the regulatory institutions in the system from mere intervention to active participation in fashioning and implementing lasting capital reconstruction measures in the banks. The research proceeded on the assumption that banking crisis will continue to happen, there will continue to be need for resolution scheme that will reconstruct the bank’s capital and beef up liquidity else panic will ensue in the system which may lead to total collapse of the banking system. Therefore there is the need to harmonize the legal procedures and institutions necessary for capital reconstruction in the country.

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