Taxation I

1. Explain the structure and procedures of the Nigerian tax system.
2. Calculate personal income tax and company income tax.
3. Apply the principles of value-added tax.
4. Identify the relevant tax authorities and their functions.
5. Understand the rules for tax assessment, returns, and appeals.
6. Analyze the impact of taxation on individuals and businesses.

13 weeks, about 30 hours in total. Yours will differ.

1. Week 1Module 1: Overview of Nigerian Income Tax Administration

   • Unit 1: Meaning, Types and Functions of Taxation in Nigeria · 2 hours

     Read the unit introduction to understand the scope of taxation in Nigeria.. Define tax and taxation, noting the compulsory nature of tax payments.. Examine the purposes and objectives of taxation, such as covering administration costs and protecting infant industries.. Study the canons and principles of taxation, including equity, convenience, and certainty..

2. Week 2Module 1: Overview of Nigerian Income Tax Administration

   • Unit 2: Tax Administration Instruments in Nigeria · 2 hours

     Explore the historical background of taxation in Nigeria, from pre-colonial times to the present.. Identify the relevant tax authorities in Nigeria, including FIRS, SIRSB, and JTB.. Understand the composition, powers, and duties of each tax authority.. Examine the functions of the technical committees within the tax authorities..

3. Week 3Module 1: Overview of Nigerian Income Tax Administration

   • Unit 3: Structure and Procedures of Nigerian Tax System · 2 hours

     Classify Nigerian taxes based on income (proportional, progressive, regressive) and burden (direct, indirect).. Understand the advantages and disadvantages of direct and indirect taxes.. Examine the types of indirect taxes, including specific and ad valorem taxes.. Analyze the impact of different tax classifications on taxpayers and the economy..

4. Week 4Module 1: Overview of Nigerian Income Tax Administration

   • Unit 4: Returns, Assessments, Appeal and Postponement · 2 hours

     Understand the requirements for filing tax returns and exemptions.. Know the time limits for filing tax returns and the contents required.. Examine the penalties for late filing of returns.. Study the process of tax assessment, including service of notice and types of assessment..

5. Week 5Module 1: Overview of Nigerian Income Tax Administration

   • Unit 5: Tax Collection (reference to all necessary Legislations) · 2 hours

     Explore the legislative framework for tax collection in Nigeria.. Identify the taxes and levies imposed and collected by each tier of government (federal, state, local).. Differentiate between taxes and levies.. Understand the roles and responsibilities of each government level in tax collection..

6. Week 6Module 2: Taxation of Income and Taxation of Capital

   • Unit 1: Personal Income Tax (PIT) in Nigeria · 2 hours

     Understand key concepts under PITA, such as income tax, benefits in kind, and residency.. Explain allowable and non-allowable deductions under personal income tax.. Know the personal income tax rates and how to apply them.. Review the Personal Income Tax Act (PITA) 2011 and its amendments..

7. Week 7Module 2: Taxation of Income and Taxation of Capital

   • Unit 2: Law and Practice of Income Tax Relating to Individuals · 2 hours

     Understand the imposition of tax on individuals under PITA.. Identify the persons on whom tax is to be collected.. Examine incomes exempted and not exempted from tax relating to individuals.. Know the list of persons assessed under personal income and the penalties for failure to deduct tax..

8. Week 8Module 2: Taxation of Income and Taxation of Capital

   • Unit 3: Introduction to Taxation of Income from Trusts, Settlements and Estates · 2 hours

     Conceptualize terminologies in incomes from trusts, settlements, and estates.. Understand the accounts under trusts, settlements, and estates, including preparation and responsibilities.. Compute income under trusts, settlements, and estates, including specific deductions and apportionment.. Know the basis of tax assessment, including aggregates of apportionment, double tax relief, and loss relief..

   • Unit 4: Other Issues in Personal Income Tax · 2 hours

     Study the adjustment of income statements for tax purposes.. Understand the methods for adjusting accounting profit.. Know the reliefs and allowances available under personal income tax.. Examine the penalties for non-compliance and the personal income tax rates..

9. Week 9Module 3: Company Income Tax

   • Unit 1: Principles and Scope of Company Tax · 2 hours

     Understand the meaning and principles of company tax.. Examine the scope and basis of charging company tax.. Know the categories of assessment in company tax, including best of judgment and self-assessment.. Study the deductions allowed and not allowed in company tax..

10. Week 10Module 3: Company Income Tax

    • Unit 2: Computation of Company Income Tax · 2 hours

      Study the provisions for exemptions on donations to funds, bodies, and institutions.. Understand how profits are determined in company tax.. Learn how to compute company income tax, including adjusted and taxable profits.. Review the Company Income Tax Act (CITA) and its guidelines..

11. Week 11Module 3: Company Income Tax

    • Unit 3: Other Issues in Company Income Tax · 2 hours

      Understand the conditions for minimum tax for company income.. Ascertain the exceptions to minimum tax.. Explain key concepts connected with company tax, such as paid-up share capital and turnover.. Know the basis of computation for company income tax..

12. Week 12Module 3: Company Income Tax

    • Unit 4: Small Company Tax (Definitions, Computations and Exemption) · 2 hours

      Define small companies and their tax obligations.. Compute the tax relief for small companies.. Know the minimum tax for small companies.. Ascertain the exemptions from minimum tax for small companies..

13. Week 13Module 4: Assessable Profits and Change of Accounting Date

    • Unit 1: Basis of Assessment · 2 hours

      Explain assessment year and its significance.. Define basis period and its application in taxation.. Understand the rules on commencement and cessation of trade.. Illustrate the rules governing change of accounting date..

    • Unit 2: Assessment of Profit for Special Cases · 2 hours

      Understand the meaning of trust, estate, and settlement.. Know the terminologies in taxation for trust, estate, and settlement.. Determine the income from a trust.. Apply the principles of taxation to special cases..