BFC 3276: Introduction to Taxation [45 LH]

PURPOSE OF THE COURSE

To explore the mechanisms and role of Tax Accounting and Government tax policy on business financial reporting as based on the Tax Laws and legal pronouncements.

EXPECTED LEARNING OUTCOMES

By the end of the course the learner should be able to:-

  1. Describe the theory underlying the taxation process
  2. Describe the structure and legal framework governing Kenyan tax system
  3. Calculate  tax of persons and other  institutions
  4. Apply principles and concepts of taxation in solving economic problems

COURSE CONTENT

Rationale for taxation, traditional and contemporary view, direct, indirect hidden and negative taxes, tax shifting, pre-requisite for an optional tax system, equity, efficiency, simplicity, effects of taxes formulation of tax policies, back duties. Taxation of individuals, employment income, profit and gains from trade profession on vocation, investment income, taxation of partnerships, returns and assessments, objections, appeals and penalties, value added tax.