Halliburton vs. FIRS: Judgment Review
By Olalekan Sowande
LAGOS Zone of the Tax Appeal Tribunal (the tribunal) on Friday, September 14, 2012, in what could be considered a watershed in the development of Nigeria’s jurisprudence on taxation, delivered its judgment in the case of Halliburton Energy Services Nigeria Limited (Appellant) vs. Federal Inland Revenue Service (FIRS). The judgment of the tribunal has, undoubtedly, reinforced the time-honored fundamental principle of tax law that what could be collected as tax by the state must be clearly enacted by the Legislature. The foundation of this principle was established in Article 4 of the English Bill of Rights (1689) where it was stated “that levying money for, or to the use of the Crown by pretence of prerogative, without consent of Parliament is illegal….”Full story...
Source:http://www.ngrguardiannews.com
Posted by Amaka, 30 October 2012
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