NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
MARCH/APRIL 2014 EXAMINATION

COURSE CODE:                                                                              ACC318                                                                               

COURSE TITLE:                                                                             Advanced Taxation

DURATION:                                                                                     2½ Hours

INSTRUCTIONS:                                                                            Attempt question 1 and any other 2 questions.

Question number 1 is compulsory and carries 25 marks, while other questions carry 15 marks each.

3. Present all your points in coherent and orderly manner.

Q1.a     What is Tax Model Computation?                                                                                            5marks

      b.   Describe the step by step ways of tax model Computation.                                               10marks

      c.    List and briefly explain the types of data referencing that you know.                              10marks

Q2.       State five organizational groups that have been identified as parties to Privatisation

and Commercialisation.                                                                                                           15marks

Q3.       List and explain the four Basic Capital Allowance.                                                               15marks

Q4.a     Define Value added tax.                                                                                                            2marks

      b.   List the good and services that have been exempted from value added tax.                   10marks

      c.    Enumerate the functions of Vat Committee and Tribunal.                                                    3marks

Q5.a     Distinguish between earned and unearned incomes of individuals.                                   5marks

      b.   Discuss two of the incomes that are chargeable and three that are exempted from

personal tax.                                                                                                                             10marks

Q6.       Explain the following concept

      a.   Tax Queries

      b.   Replies

      c.    Best of Judgement Assessment                                                                                              15marks