Introduction to Taxation notes pdf – KCA University

Description

TOPIC 1: INTRODUCTION TO TAXATION

• Definition of tax
• Features of a tax
• Objectives of Taxation
• Classification of Taxes

TOPIC 2: PRINCIPLES OF TAXATION

• Canons of Taxation
• Impact, incidence and effects of taxes
• Factors influencing tax shifting

TOPIC 3: INCOME TAX IN KENYA

• Administration and Application of Income tax
• Residence
• Tax Implications of Residents
• Year of Income
• Rates of Tax, Reliefs and Withholding tax

TOPIC 4: EMPLOYMENT INCOME

• Taxable Cash Benefits from Employment
• Taxable Non-Cash Benefits
• Non-Taxable Benefits from Employment
• Allowable Deductions from Employment
• Disallowable Deduction against Employment Income

TOPIC 5: INCOME FROM PAST EMPLOYMENT

• Pension, Provident and Individual Retirement Funds
• Taxation of Pensions
• Compensation for Termination of Employment

TOPIC 6: INCOME FROM DIVIDENDS, INTERESTS AND RENT

• Income from use of property
• Dividend Income
• Interest Income

TOPIC 7: BUSINESS INCOME

• Definition of Business
• Taxable Business Income
• Non-Taxable Business Income
• Allowable Deduction
• Disallowable Deduction
• Taxation of a sole proprietor

TOPIC 8: TAXATION OF PARTNERSHIP AND COMPANIES

• Taxation of Partnership
• Illustrations on Taxation of Partnerships
• Taxation of Limited Companies
• Illustrations on Taxation of Legal Companies

TOPIC 9: VALUE ADDED TAX

• Definition of VAT
• VAT Registration
• VAT Records
• Types of Tax
• VAT Returns
• VAT Account
• Offences and Penalties

TOPIC 10: CUSTOMS AND EXCISE DUTY

• Goods Subject to Customs Control
• Dumping and Subsidy
• Goods Subject to Preshipment Inspection
• Refund of Duty
• Bond Security
• Prohibited Imports
• Restricted Imports