PROFESSIONAL EXAMINATION ‘B’ (PEB)
PEA IV – TAXATION PRINCIPLES AND PRACTICES
- Review of Concept
- Taxation
- Historical Overview in Nigeria
- Income Tax
- Personal Income Tax
- Company Income Tax
- The general system of administration of Nigeria tax, including assessments, collection, appeals, penalties and repayment claims
- Various classes of income
- Basis of assessment
- Computation of income
- Tax liability of individuals, including non-residents
- The treatment of business profits and losses in varying circumstances, relative to sole proprietors and partnerships
- Claims for capital allowances
- Back duty Assessment
- Capital Gains Tax
- Administration of capital gains tax and computation of chargeable gains
- Exemptions and reliefs, indexation allowance, quoted securities, Stocks and shares
- Capital transactions of partnership and companies
- Legatees and artificial transactions
- Petroleum Profit Tax
- Chargeable profit
- Treatment of losses
- Group and consolidated companies
- Petroleum profit tax, taxation of income from abroad: double taxation Relief – Individuals, companies and overseas subsidiaries
- Mergers, acquisitions and Takeover bids, Deferred Taxation
- Valued Added Tax
- Principles, Administration, Accounting and Penalties