TAX 213: Business Taxation I

Learning Outcomes

At the end of this course, student should be able to:

1. determine the computation of taxation of companies in specialise circumstances, resident and   non-resident companies;
2. define pioneer legislation;
3. explain the determination, assessment and collection of taxes relating to education;
4. describe the treatment of taxation in company accounts; and
5. compare the relationship between company income tax Act and petroleum profit tax Act.

Course Contents

Insurance Companies. Unit Trusts, Mergers, Acquisitions. Takeovers and Restructuring. Non- Resident Companies. Air Transportation and Shipping. Industrial Development (Pioneer Legislation). Banks and other financial institutions. Agricultural Businesses.

Education Tax. Persons Chargeable. Determination, assessment and collection of tax. Administration, objections and appeal procedures. Relationship with Companies Income Tax Act (CITA) and Petroleum Profit Tax Act (PPTA).Treatment of Taxation in Companies’ Accounts. Capital Gains Tax.