TAX 311: Revenue Law and practice

Learning Outcomes

At the end of the course, students should be able to:

1. state the differences between tax and other public charges, nature and objects of tax;
2. Interpret the general principles of taxation including sources and interpretation of tax law;
3. identify forms of taxation and legal framework of taxation in Nigeria;
4. explain the general legal principles, personal allowances, residence, trust, estate administration and settlement; and
5. determine the taxation of business entities, offsets/rebates of tax and goods and services.

Course Contents

Nature and Purpose of Taxation. Definition of tax Differences between tax and other Public charges. Nature and objects of tax. General Principles of taxation. Sources and interpretation of tax law in Nigeria. Form of taxation in Nigeria. A Survey of legal framework of taxation in Nigeria. Income Tax: General legal principles. Personal allowances, Residence. Employment income. Property income. Trust, Estate administration and settlement. Assessable income, residency, capital gain tax, allowable deduction, the taxation of business entities and offsets/rebates of tax. The taxation of business entities and goods and services.