CHAPTER 1: Basic Taxation Concepts
Upon completion of this chapter, the learner should be able to:
- Explain what taxation is
- Explain the various classes of taxation
- Understand how to use taxation tables
- Define who is liable to pay tax
- Calculate the tax amount due using tax tables
- Explain the concept of VAT
- Explain the concept of PAYE
- Explain the concept of SDL
- Understand and calculate turnover tax
- Understand and calculate turnover tax
- Understand and calculate small business tax