Law of Taxation I
- Law
- 800 level
- 3 credit units
- 120 pages
- 12 units
This course introduces the fundamental principles of taxation law in Nigeria. It explores the nature, scope, and elements of taxation, covering tax administration, chargeable income, and available tax reliefs. The course examines various types and forms of taxation, deductible expenses, and the taxation of employment and business income. It also delves into investment income and personal reliefs, providing a comprehensive overview of taxation law.
About this course
- Difficulty
- Intermediate
- Study hours
- 195 hours
- Maths
- Basic
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor marked assessments
- Final examination
What you'll read
The real module and unit structure of PUL811, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
PUL811 · UNIT 1: THE NATURE AND MEANING OF TAX
Taxation law generally regulates the how the income of individuals and companies are being taxed for public use. Our discussion in this semester will focus on the nature, scope as well as the elements of taxation. We will consider the tax administration in Nigeria and discus also, chargeable income and various tax reliefs.
What you should be able to do
- Explain the nature and scope of taxation in Nigeria
- Identify sources of tax laws and their interpretations
- Compute chargeable income for individuals and companies
- Apply rules for deductible expenses and allowable expenditures
- Determine taxability of employment and business income
- Understand taxation of investment income
- Apply personal tax reliefs and exemptions
What it prepares you for
- Tax Consultant
- Tax Accountant
- Tax Auditor
- Financial Analyst
- Compliance Officer
- Financial Services
- Accounting Firms
- Government Agencies
- Corporate Taxation Departments
- Legal Services
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 2: Elements of Taxation
Unit 1: Nigerian Tax Base
Understanding the nuances between capital and revenue receipts requires careful analysis of business transactions and legal precedents.
- Module 3: Nature of Tax Administration in Nigeria
Unit 1: Imposition of Personal Income Tax in Nigeria and Determination of Residence
The legal arguments surrounding the Tax Appeal Tribunal's jurisdiction require careful examination of constitutional provisions and case law.
- Module 7: Business Income
Unit1: Taxation Of Business Income
Applying the badges of trade to determine whether a particular activity constitutes trading requires careful consideration of various factors and judicial interpretations.
A suggested way through it
13 weeks, about 85 hours in total. Yours will differ.
- Week 1Module 1: The Nature and Scope of Taxation
Unit 1: The Nature and Meaning of Tax · 5 hours
Define tax, discuss its nature and scope, and identify its key characteristics.. Understand the historical context of taxation in Nigeria..
Unit 2: Background History of Nigerian Taxation · 4 hours
Trace the evolution of taxation in Nigeria from pre-colonial times to the present.. Analyze the impact of British tax systems on Nigerian society..
Unit 3: Types and Forms of Taxation · 4 hours
Identify and differentiate between direct and indirect taxes.. Discuss the advantages and disadvantages of proportional, progressive, and regressive tax systems..
- Week 2Module 2: Elements of Taxation
Unit 1: Nigerian Tax Base · 5 hours
Define income, capital, and expenditure in the context of Nigerian tax law.. Understand the distinction between income and capital for tax purposes..
Unit 2: Sources of Tax Laws In Nigeria · 4 hours
Identify and explain the various legislative sources of tax laws in Nigeria.. Understand the role of judicial decisions in interpreting tax laws..
- Week 3Module 3: Nature of Tax Administration in Nigeria
Unit 1: Imposition of Personal Income Tax in Nigeria and Determination of Residence · 6 hours
Determine the criteria for establishing residency for tax purposes.. Understand the implications of residency on tax liability..
- Week 4Module 4: Income Tax Chargeability
Unit 1: The Meaning and Ascertainment of Chargeable Income · 6 hours
Define chargeable income and understand its components.. Differentiate between earned and unearned income..
- Week 5Module 4: Income Tax Chargeability
Unit 2: Computation of Chargeable Income · 6 hours
Compute the chargeable income for individuals.. Calculate the tax payable on an individual's income..
- Week 6Module 5: Deductible Expenses and Allowable Expenditures
Unit 1: Deductible Expenses · 6 hours
Identify deductible expenses and allowable expenditures for tax purposes.. Apply the tests for deductibility of expenses..
- Week 7Module 6: Employment Taxation
Unit 1: Taxation of Employment Income · 6 hours
Determine the taxability of employment income.. Understand the distinction between office and employment..
- Week 8Module 7: Business Income
Unit1: Taxation Of Business Income · 6 hours
Determine the taxability of business income.. Apply the badges of trade to identify trading activities..
- Week 9Module 8: Tenets of Investment Income
Unit 1: Taxation Of Investment Income · 6 hours
Understand the principles and tenets of investment income taxation.. Identify the components of investment income: dividends, interest, discounts, annuities, and rents..
- Week 10Module 9: Income Tax Personal Reliefs
Unit 1: Personal Reliefs · 6 hours
Explain the various personal tax exemptions and reliefs available to taxpayers.. Understand the conditions for claiming personal allowances, married allowances, and children allowances..
- Week 11Module 1: The Nature and Scope of Taxation
Review of Module 1-3 · 5 hours
Review key concepts from Modules 1-3.. Practice identifying different types of taxes and their applications..
- Week 12Module 4: Income Tax Chargeability
Review of Module 4-6 · 5 hours
Review key concepts from Modules 4-6.. Solve computation problems related to chargeable income and deductible expenses..
- Week 13Module 7: Business Income
Review of Module 7-9 · 5 hours
Review key concepts from Modules 7-9.. Discuss the principles of investment income taxation and personal tax reliefs..
Preparing for the exam
- Create detailed outlines summarizing key concepts from each module
- Practice computation problems from Units 2, 4, and 5 weekly
- Review case laws cited in Units 1, 3, and 7 to understand judicial interpretations
- Focus on understanding the distinctions between different types of income (earned vs. unearned, capital vs. revenue)
- Allocate time to thoroughly review personal reliefs and exemptions in Unit 9
- Create flashcards for key definitions and concepts
- Simulate exam conditions by completing practice questions within a time limit
Questions students ask about this course
What is PUL811 about?
This course introduces the fundamental principles of taxation law in Nigeria. It explores the nature, scope, and elements of taxation, covering tax administration, chargeable income, and available tax reliefs. The course examines various types and forms of taxation, deductible expenses, and the taxation of employment and business income. It also delves into investment income and personal reliefs, providing a comprehensive overview of taxation law.
How many units does PUL811 have?
PUL811, Law of Taxation I, has 12 units across 8 modules, over 120 pages of course material. You can read it one unit at a time.
How many credit units is PUL811?
PUL811 carries 3 credit units, at 800 level in Law.
Is PUL811 hard?
PUL811 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does PUL811 take to study?
About 195 hours of study, spread across its 12 units.
How is PUL811 assessed?
PUL811 is assessed by assignments, tutor marked assessments and final examination.
What can I do with PUL811?
Tax Consultant, Tax Accountant, Tax Auditor, Financial Analyst and Compliance Officer.