Blockchain technology with abstract background
December 3, 2021 Omaplex 0 Comments

Tax compliance is a labour-intensive and time-consuming process, often involving a lot of paper work and professionals, thereby driving up costs. The tax payer would ordinarily collate, prepare, and submit their returns, also calculating and deducting their allowable where applicable, while the tax authorities verify, cleanse, and validate the returns before the process is completed. This process drives up costs and needlessly consumes the time of the taxpayers and the authorities. There’s also the unending battle between taxpayers and authorities in interpreting and applying tax laws, leading to indecision and risks of audits and even litigation.

Nigeria's Unexplored Eldorado thumbnail
December 2, 2021 Omaplex 0 Comments

The first thing Nigeria must do is to increase the transparency of the taxation process in the informal sector by ensuring that only authorised government personnel or agents are empowered to collect taxes. This not only solves the problem of multiple taxation and the activities of non-state actors in the collection process, it also, most importantly, ensures that all funds obtained are remitted into government coffers. With this mechanism, the government can easily ensure accountability in remittances, set targets for its officials and ultimately nib any form of corruption in the bud.

Adversarial Judicial System_Need For Reform featured image
November 24, 2021 Omaplex 0 Comments

The legal system of any country is comprised of both civil and criminal proceedings. For effective court proceedings, various courts are created with a view to ensuring that litigants that appear before them as much as possible feel satisfied with their decisions . How these courts are able to deliver th eir final judgments with a view to determining the rights of the contesting parties is always crucial in any judicial system of a country.

In Nigeria, the courts operate an adversarial system; the judge maintains the balance between the parties to the action and decides the case on the evidence brought by both sides and by applying extant laws. The adversarial system of justice works to resolve cases in court by pitting partial advocates for each side against one another with a judge who works to ensure that the rules of court and law are followed. This system thrives by its use of interested opposing parties debating over an issue in order to ensure the pursuit of justice. This system of justice delivery has been criticized for its value of winning over truth, but another school of thought relies on studies showing how it has led to the development of law in recent times.

This paper examines the operation of the system in general and highlights its advantages and disadvantages and proffer recommendations on how to improve the system generally.

Trade Liberalization In Developing Countries featured image
October 28, 2021 Omaplex 0 Comments

There are two competing perspectives focusing on the relationship between trade and economic performance in developing countries. First, liberals argue that developing countries have to make a structural change to an open economy because, in the long run, greater openness leads to economic development through the efficient allocation of resources. According to them, the “correct” policies of open trade will increase the gain of developing countries and the world at large

August 31, 2021 Omaplex 0 Comments

The Petroleum Industry Act (The Act), 2021 (PIA) seeks to introduce far-reaching reforms in the Nigerian Oil and Gas Industry aimed at establishing good governance, best practices, and the ease of doing business by clarifying roles and responsibilities of officials and institutions, enabling frontier exploration, improving environmental compliance, and transforming the Nigerian National Petroleum Corporation (NNPC) into a commercially viable enterprise.