This course is intended to equip the candidate with knowledge, skills and attitudes that will enable learners to apply taxation principles, implement taxation regulations by computing for individuals and corporates. 

CLO1. Explain Taxation principles, laws, and regulations.

CLO2. Analyse the Application of tax laws to different scenarios.

CLO3. Evaluate Development of tax strategies for individuals and businesses.

CLO4. Evaluate the economic, social, and ethical implications of tax policies and practices.

Introduction to Taxation: Definition and purpose of Taxation, Taxation and Types and classification of taxes, Principles of an optimal tax system, Types of tax systems, Tax capacity, Tax avoidance and evasion.

Taxation of Income: Basis of charging tax, Concept of residency and non-residency, Taxable and non-taxable persons, Specified Sources of income, Incomes exempted from taxation.

Taxation of Employment Income: Taxable cash and non-cash benefits/rewards received from employment, Allowable deductions against employment income and PAYE.

Taxation of Business Income: SMES, Partnership, companies and Multinational corporations.

Taxation of specialized entities: Real estate, Mining, Farming, Marine sector, Taxation of investment income, Taxation of royalties and informal sector.

Capital Deductions: Introduction, importance, Rationale for capital deductions.

Investment deductions: ordinary manufacturers, Investment Allowances; Introduction, types of capital allowances, wear and tear allowance, farm works deductions and shipping investment deductions.

Administration of Value Added Tax (VAT): Registration, deductions of input tax, accounting for VAT, WHT on VAT, Remission and refund of VAT and Offences, fines, penalties and interest.

Customs Taxes and Excise Taxes: Purpose and imposition of custom duty and excise tax, custom procedure, Goods subject to exercise duty, remittance and refunds.

International taxation: Cross-border transactions, transfer pricing, and tax treaties.