The major objectives of this course, as designed, are to enable the students to know all the relevant enactments and legislations in relation to assessment and taxation in Nigeria. As well, students should be able to:
- Discuss in detail the rationale behind imposition of taxation in Nigeria
- Explain the term “tax investigation”
- Describe the stages of tax investigation
- Explain the jurisdiction tax appeal tribunal
- Discuss the particulars contained in the notice of appeal against an assessment of a tax payer?
- Describe what is meant by right to legal representation by a tax payer
- Compare tax avoidance with tax evasion
- Distinguish between earned and unearned incomes of individuals
- Explain the various incomes that are chargeable or exempted from personal tax
- Enumerate the principles of allowable and disallowable expenses or deductions
- Identify the reliefs and allowances that are deducted before arriving at the chargeable income for the relevant years of assessment
- Differentiate between withholding tax and value added tax
- Enumerate the problems of administering withholding tax in Nigeria
- Define value added tax
- List the goods and services that have been exempted from value added tax
- Enumerate the functions of VAT committee and tribunal
- Explain how an agent is appointed
- Explain the term capital allowances
- List and explain the types of capital allowances
- Define and discuss the concept leasing assets.
All information and data for this course material are generated from various secondary sources such as the ICAN study pack, tertiary institution course material, online journals and articles, and other relevant webpages.
This course material is very fundamental to student of tertiary institution in the pursuit of academic excellence, as well as in workplace. The aim of this study material is to provide relevant insight for developing their knowledge and to carry out assignments.
Under no circumstance should the course material be used for illegal purposes whatsoever. They are all structurally design for reading conveniences and to create introductory knowledge for student who may wish to venture into accounting field of study.
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This page contains all taxation topics relating to advanced taxation. All for your reading conveniences.
- ASSESSMENT INCOME OF A TRUSTEE, EXECUTOR OR A BENEFICIARY
- CONCEPT OF CAPITAL GAIN TAX
- CONCEPT OF STAMP DUTIES
- CONCEPT OF TAX EVASION AND TAX AVOIDANCE
- DOUBLE TAXATION RELIEF
- PETROLEUM PROFIT TAX
- PIONEER INDUSTRIES AND LEGISLATION
- SERVICE TAX
- TAX APPEAL TRIBUNAL AND INTERPRETATION OF TAX LAWS
- TAX AUDIT AND INVESTIGATION
- TAX EFFECTS OF PRIVATISATION AND COMMERCIALISATION
- TAX PLANNING AND MANAGEMENT
- TAXATION OF SPECIAL BUSINESSES
- WITHOLDING TAX