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TAX 312 Advanced Personal Taxation I

HND1 levelManagement & Administration29 topics

TAX 312 covers 29 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Tax as a creation of law
  2. Evolution and meaning of tax
  3. Tax authorities and their roles
  4. Tiers of government tax authorities in Nigeria
  5. Laws establishing tax authorities
  6. Importance of tax
  7. Chargeability and taxable income
  8. Trade, profession and vocation
  9. Tests of trade
  10. Employment income
  11. Revenue and capital income/expenditure
  12. Residence and permanent establishment
  13. Measurement and recognition of income
  14. Accounting fiscal year
  15. Taxation of income and profit
  16. Upstream and downstream oil and gas taxation
  17. Petroleum products and gas definitions
  18. Applicable oil and gas tax laws
  19. Gas production cost adjustment factor
  20. Oil prospecting licence and oil mining lease
  21. Downstream oil and gas taxation
  22. Tax incentives in oil and gas sector
  23. Gas utilization incentives
  24. Investment credits and MOU tax credit
  25. Taxation of other mineral resources
  26. Petroleum laws and ownership of concessions
  27. Contracts, joint ventures and production sharing
  28. Petroleum regulatory agencies and functions
  29. Fiscal arrangements, rent, royalty and OPEC impact

A sample from this course

One topic, as StudyPath teaches it.

Tax as a creation of law

Tax is a legal obligation imposed by the state on individuals and entities to finance public expenditure. It is created, defined, and regulated by statutes and constitutional provisions, and its legitimacy rests on the principle of legality and the authority of the law-making body.

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