FORM OF TAXATION.

-PROGRESSIVE-Tax increases as income increases and vice-Versa.
-REGRESSIVE-Tax decreases as Income increases and vice versa.
-PROPORTIONAL TAX-tax remains constant irrespective of income.
-AD-VALEREUM -based on value.

TYPES OF TAXES.-

 1.DIRECT TAXES levied directly  to goods and services
-Company income tax -CIT.
-Petroleum profit tax-PPT.
-Capital Gain Taxes-CGT.
-Personal Income Tax(PIT)
-Education tax-ED.
-Information Technology Tax.

2.INDIRECT TAX. – levied on the consumer of goods
-VAT

-custom and excise duty

Disclaimer: Obi Azubuike is not by this publication acting as a professional advisers and therefore not liable to any  damage whatsoever for your acting or refraining to act based on  this publication. Consult your professional for advice. 

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