Lecture Notes On Principles Of Taxation

ACC201 PRINCIPLES OF TAXATION 4 CONTENTS PAGE Module 1 1 Unit 1 Historical and Legal Background of Taxation in Nigeria............................................................................ 1 Unit 2 Tax Administration in Nigeria....................................... 14 Unit 3 The Difference between Taxation of Income and the Taxation of Capital......................................................... 25 Unit 4 Basis of Assessment of Profits of Businesses (Basis Period)................................................................ 36 Unit 5 Loss Relief..................................................................... 48 Module 2 ....................................................................................... 55 Unit 1 Capital Allowances........................................................ 55 Unit 2 Taxation of Employees and Sole Traders...................... 65 Unit 3 Partnership Taxation...................................................... 83 Unit 4 Companies Taxation...................................................... 92 Unit 5 Taxation of Settlement, Trust and Estate...................... 109 Module 3 ....................................................................................... 122 Unit 1 Taxation of Banks.......................................................... 122 Unit 2 Taxation of Insurance Companies................................. 129 Unit 3 Taxation of Construction Companies............................ 138 Unit 4 Taxation of Airline and Shipping Companies............... 146 Unit 5 Double Taxation Relief................................................. 154ACC 201 PRINCIPLES OF TAXATION 5 MODULE 1 Unit 1 Historical and Legal Background of Taxation in Nigeria Unit 2 Tax Administration in Nigeria Unit 3 The Difference between Taxation of Income and the Taxation of Capital Unit 4 Basis of Assessment of Profits of Businesses (Basis Period) Unit 5 Loss Relief UNIT 1 HISTORICAL AND LEGAL BACKGROUND OF TAXATION IN NIGERIA CONTENTS 1.0 Introduction 2.0