Law of Taxation II
- Law
- 800 level
- 3 credit units
- 154 pages
- 10 units
This course focuses on the law of taxation, specifically examining taxing powers and their distribution among different levels of government. It covers tax offenses, penalties, duties, and obligations imposed by governments. The course also delves into the taxation of companies' income, capital gains, petroleum profit, and value-added tax in Nigeria. Students will gain insights into the Nigerian tax system and its administration, including relevant legislation and practices.
About this course
- Difficulty
- Intermediate
- Study hours
- 156 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 PUL812, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
PUL812 · UNIT 1: Meaning and History of Taxing Powers
This unit discusses the meaning and concept of taxing powers, the history of taxing powers in Nigeria and the present position of taxing powers among the three tiers of government in Nigeria: viz. Federal Government, State Government and the Local Government.
What you should be able to do
- Understand the concept of taxing power and its distribution.
- Explain tax offenses and their penalties.
- Describe the duties and obligations imposed by government.
- Analyze the taxation of company income and capital gains.
- Discuss the petroleum profit tax and value-added tax systems.
- Apply relevant legislation and practices in the Nigerian tax system.
What it prepares you for
- Tax Consultant
- Tax Accountant
- Financial Analyst
- Compliance Officer
- Revenue Officer
- Finance
- Accounting
- Law
- Government
- Oil and Gas
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 5: Taxation of Capital Gains in Nigeria
Unit 1: The Administration and Chargeability to Capital Gains Tax (Cgt)
Computation of chargeable gains requires a deep understanding of financial transactions and asset valuation methods.
- Module 6: Petroleum Profit Tax in Nigeria
Unit 1: Administration of Petroleum Profit Tax in Nigeria
The technical and sensitive nature of the crude oil industry makes the assessment, chargeability, and administration of this tax very complex.
A suggested way through it
13 weeks, about 98 hours in total. Yours will differ.
- Week 1Module 1: Taxing Powers in Nigeria
Unit 1: Meaning and History of Taxing Powers · 8 hours
Understand the meaning of taxing power.. Analyze the distribution of taxing powers among the three tiers of government.. Explain the position of the 1999 Constitution..
- Week 2Module 1: Taxing Powers in Nigeria
Unit 2: Freedom of Inter-State Trade, Commerce and Restraints On Taxing Powers Between the Three Tiers of Government · 8 hours
Understand the need for freedom of trade and commerce in the Nigerian federal system.. Analyze the impacts of trade and commerce.. Discuss inter-governmental immunities under tax laws..
- Week 3Module 2: Tax Offences and Penalties in Nigeria
Unit 1: Tax Offences and Penalties · 8 hours
Explain tax evasion.. Discuss tax avoidance as major tax offenses.. Distinguish between tax evasion and tax avoidance..
- Week 4Module 3: Duties and Obligations Imposed by Government
Unit 1: Stamp Duties · 8 hours
Explain the term 'stamp duties'.. Analyze the categories of items subject to stamp duties.. List the categories of items exempted from stamp duties..
- Week 5Module 3: Duties and Obligations Imposed by Government
Unit 2: Other Categories of Duties · 8 hours
Explain other categories of duties imposed by government.. Understand the reasons why government imposes duties..
- Week 6Module 4: Taxation of Companies Income Tax in Nigeria
Unit 1: Administration of and Chargeability to Company Income Tax · 8 hours
Discuss the administration of company income tax in Nigeria.. Explain the chargeability of companies to tax in Nigeria..
- Week 7Module 4: Taxation of Companies Income Tax in Nigeria
Unit 2: Company Tax Exemption and Reliefs · 8 hours
Explain what tax exemption is.. Analyze the different categories of tax exemptions in Nigeria.. Discuss the benefit of tax exemption to both the state and individual..
- Week 8Module 5: Taxation of Capital Gains in Nigeria
Unit 1: The Administration and Chargeability to Capital Gains Tax (Cgt) · 8 hours
Explain the meaning and nature of Capital Gains Tax (CGT).. Discuss the assets that are subject to CGT.. Explain its enforcement and general administration in Nigeria..
- Week 9Module 6: Petroleum Profit Tax in Nigeria
Unit 1: Administration of Petroleum Profit Tax in Nigeria · 8 hours
Explain the petroleum profit tax law.. Analyze how the federal government derives its revenue from the taxation of petroleum products..
- Week 10Module 7: Value Added Tax in Nigeria
Unit 1: The Administration of Value Added Tax in Nigeria · 8 hours
Explain what VAT is all about.. Understand the goods and services that are subject to VAT.. Acquaint yourself with the increase in tax rate in Nigeria..
- Week 11Module 1: Taxing Powers in Nigeria
Unit 1: Review of Taxing Powers in Nigeria · 6 hours
Review Module 1: Taxing Powers in Nigeria. Complete self-assessment exercises for Module 1..
- Week 12Module 4: Taxation of Companies Income Tax in Nigeria
Unit 1: Review of Taxation of Companies Income Tax in Nigeria · 6 hours
Review Module 4: Taxation of Companies Income Tax in Nigeria. Complete self-assessment exercises for Module 4..
- Week 13Module 7: Value Added Tax in Nigeria
Unit 1: Review of Value Added Tax in Nigeria · 6 hours
Review Module 7: Value Added Tax in Nigeria. Complete self-assessment exercises for Module 7..
Preparing for the exam
- Create detailed summaries of each tax type (CIT, PPT, VAT) including key rates and regulations.
- Practice applying tax laws to hypothetical scenarios involving different business structures.
- Focus on understanding the differences between tax avoidance and tax evasion.
- Review landmark cases related to taxation in Nigeria to understand judicial interpretations.
- Create a timeline of key tax legislation and amendments to understand the evolution of tax law.
- Prioritize studying the calculation methods for different taxes, focusing on areas like capital allowances and adjusted profits.
Questions students ask about this course
What is PUL812 about?
This course focuses on the law of taxation, specifically examining taxing powers and their distribution among different levels of government. It covers tax offenses, penalties, duties, and obligations imposed by governments. The course also delves into the taxation of companies' income, capital gains, petroleum profit, and value-added tax in Nigeria. Students will gain insights into the Nigerian tax system and its administration, including relevant legislation and practices.
How many units does PUL812 have?
PUL812, Law of Taxation II, has 10 units across 7 modules, over 154 pages of course material. You can read it one unit at a time.
How many credit units is PUL812?
PUL812 carries 3 credit units, at 800 level in Law.
Is PUL812 hard?
PUL812 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does PUL812 take to study?
About 156 hours of study, spread across its 10 units.
How is PUL812 assessed?
PUL812 is assessed by assignments, tutor marked assessments and final examination.
What can I do with PUL812?
Tax Consultant, Tax Accountant, Financial Analyst, Compliance Officer and Revenue Officer.