ABU TAX CLUB EMERGED AS THE 1ST RUNNER-UP AT THE 2022 NATIONAL TAX MOOT COMPETITION.
The Tax Club ABU emerged the 1st runner-up position at the National Tax Moot Competition held at Lagos State University, Ojo Campus on November 29, 2022. Represented by Ahmodu Qoyum Biodun, Adamu Nusaiba Abba, and Raji A. Nafisat, the club excelled through three distinct stages. The initial qualifying round featured an essay writing competition on the topic ‘The New Wave of Tax Policies: Self Cannibalism or Path to Economic Sustainability.’
Having succeeded in the first stage, the team progressed to the second round, which was the Moot Court Session. This stage featured a hypothetical scenario on the assessment and collection of Stamp Duties between a State and Federal Authority. The session was presided over by Mr. Idris Idalere, a partner at Oyebode and Aluko. The event witnessed succinct and convincing memorials submitted by the universities. The teams engaged in prudent arguments, tasked with presenting cases for and against, navigating the complex legal terrain of the scenario. Despite the fact that the case’s hypothetical scenario was still pending before the Supreme Court in a suit filed by the Attorney General of Abia State and 35 Ors V. Attorney General of the Federation in Suit No. SC/CV/690/2021, the teams were able to craft various persuasive arguments before the Tribunal.
The ABU team demonstrated prowess by presenting compelling arguments and successfully navigated the intricacies of the case, advancing to the final stage of the competition.
The final lap of the competition featured a PowerPoint presentation with the theme ‘The Feasibility of BEPS Action Plan in the Nigerian Tax System.‘ The ABU team introduced a sub-topic to the theme of the presentation as, ‘Feasibility of BEPS Action Plan in Nigerian Tax System: A ROLLER COASTER OF MANIFESTATION.’
The chosen theme leaned towards an avowal that BEPS Action Plans are evident in the Nigerian Tax System from the moment of treaty ratification and domestication. The presentation concluded that despite the feasibility of BEPS action plans through the Transfer Pricing Regulation (2018) made by the Federal Board of Inland Revenue Service and some amendments made by the National Assembly to section 13 of the Company Income Tax Act, and Section 89 (a) of the Stamp Duties Act, there are still setbacks that could hinder the perfect implementation of the action plan.
Undoubtedly, the National Tax Moot Competition 2022 was a knowledge-driven event, exposing participants to various issues affecting the Nigerian Tax System.
The Tax Club representatives while addressing the members of the gallery expresses gratitude to all stakeholders at the event most especially, the hosting University for organizing such educative program. The team lead thanks the club executive and other technical teammates who contributed in one way or another to the team’s success.
