While adjudicating a dispute between an international oil company and the Federal Inland Revenue Service (FIRS), the Nigerian Tax Appeal Tribunal (TAT) recently held that where there is a conflict between an agreement and statute, the provisions of the statute prevail
Randall Barquero León In July 2015, the Organisation for Economic Cooperation and Development (the OECD) formally established the path for Costa Rica's accession. The process started in 2013 when the OECD stated that it would consider applications for Colombia and Costa Rica's entry. This was the first time the OECD had announced an expansion since 2007. If admitted, Colombia and Costa Rica would become the third and fourth Latin American members of the OECD, after Chile and Mexico. This has been considered both a vote of confidence for Costa Rica but also a challenge to its capacity to adapt to meet the organisation's standards. These standards include financial regulations.
Julian M Hashim Yishan Yong More parties are opting to include service of notices in agreements by way of email because it is expeditious and convenient. However, there are implications of using email as a method of service that may not be obvious.
Bisola Olusoga The Nigerian Petroleum Industry Bill (PIB) is currently being considered for passage into law in distinct parts, each instalment dealing fully with the matters to which it pertains. It is understood that this piecemeal approach represents a policy measure for the convenient management of the controversies which have historically plagued the PIB. The first part to be enacted, the Petroleum Industry Governance and Institutional Framework Bill aims to create efficient and effective governing institutions, with clearly delineated roles within the petroleum industry. It will also establish a framework for the creation of commercially oriented and profit-driven petroleum entities and promote transparency and accountability in the administration of petroleum resources in Nigeria.
