SECTION A -PERSONAL INCOME TAX

1.   STATE 7 FUNCTIONS OF THE FOLLOWING

A.FBIRS (FEDERAL BOARD OF
INLAND REVENUE)

B.SBIR(STATE BOARD OF INLAND
REVENUE).

2.A    WHAT IS TAXATION?
B. STATE TWO PURPOSE OF TAXATION
C.    STATE THE CANON OF TAXATION

3.    STATE THE RULE OF COMMENCEMENT AND CEASATION
IN TAXATION

4.STATE 6 ALLOWABLE DEDUCTIONS AND
DISALLOWABLE DEDUCTIONS OR RELIEFS UNDER THE
PERSONAL INCOME TAX

5.    COMPUTE THE PERSONAL INCOME TAXES FOR  MR
AZUBUIKE
 
MR .AZUBUIKE HAS THE FOLLOWING INFORMATION
GROSS INCOME=N20,000,000
A.COMPUTE THE CONSOLIDATED ALLOWANCE
B. COMPUTE THE PERSONAL INCOME TAX PAYABLE.
 
6.    STATE THE RULES OF RESIDENT FOR INDIVIDUALS
AND COMPANIES IN TAXATION

7.WHAT IS CONTRACT OF SERVICE AND CONTRACT FOR SERVICE?

WHAT IS ITS IMPLICATION IN TAXATION?

8.WHAT IS BENEFIT IN KIND FOR THE PURPOSE OF TAXATION

9.STATE THE CHANGE OF DATE RULE IN NIGERIA TAXATION

SECTION B-COMPANY INCOME TAX

1.STATE 10 INCOME EXEMPTED FROM COMPANY INCOME TAX ACT AND RELATED LAW?

2.WHAT IS CAPITAL ALOWANCE? ILLUSTRATE

3.STATE 12 EXPENSE THAT ARE ALLOWABLE UNDER THE COMPANY INCOME TAX ACT AND RELATED LAW?

4.STATE BUSINESSES THAT FALL INTO PIONEER COMPANIES?

5. THE FOLLOWING ASSET WAS PURCHASED ON JAN 1,2020?

A. CAR -NGN4MILLION

B.ELECTRIC GENERATOR-NGN5MILLION

C.FURNITURE-NGN1MILLION

REQUIRED

1.COMPUTE THE CAPITAL ALLOWANCE FOR THE BUSINESS FOR 2021 YEAR OF ASSESSMENT.

6.STATE THE CLASS OF COMPANIES THAT ARE EXEMPTED FROM COMPANY INCOME TAXES IN NIGERIA

7.STATE COMPANIES THAT ARE EXEMPTED FROM WITHHOLDING TAXES.

SECTION C-VAT

1.WHAT IS VAT

2.STATE BUSINESSES THAT ARE EXEMPTED FROM VAT.

SECTION D-PETROLEUM PROFIT TAX

A. STATE THE LAWS THAT GUIDE COMPANY INVOLVE IN PETROLEUM OPERATION IN NIGERIA.

ILLUSTRATE