1.3 Q&A: Withholding Tax, VAT, Exemptions and When to Charge Them – Accounting Yard

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Course Content

Module 1: Understanding the Nigeria Tax Act 2025 and Computing Personal Income Tax

You will be able to explain why Nigeria's tax laws were reformed and what the 2025 Acts change, work out an individual's chargeable income and compute personal income tax payable using the new rates.

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1.1 Overview of the Nigeria Tax Act 2025

1.2 The Need for Tax Reform in Nigeria

1.3 Q&A: Withholding Tax, VAT, Exemptions and When to Charge Them

1.4 Ascertainment of Chargeable Income: Introduction

1.5 Q&A: Ascertainment of Chargeable Income

1.6 Individual Income Tax Rates with Illustrations

1.7 Personal Income Tax Computation: Illustration 1

1.8 Personal Income Tax Computation: Illustration 2

1.9 Q&A: Personal Income Tax Illustrations

1.10 Practice Question: Determining Tax Payable

1.11 Solution: Determining Tax Payable

Module 1 Quiz: The New Tax Act and Personal Income Tax

Module 2: Applying Personal Income Tax, PAYE and Withholding Tax

You will be able to apply personal income tax to employees and self-employed people, run PAYE, and calculate and account for withholding tax alongside VAT.

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2.1 Personal Income Tax and Taxation of the Self-Employed

2.2 Pay As You Earn (PAYE)

2.3 Withholding Tax: Key Principles

2.4 Relationship Between VAT and Withholding Tax

2.5 Practice Question: Withholding Tax

2.6 Solution: Withholding Tax

2.7 Q&A: Personal Income Tax, PAYE and Withholding Tax

Module 2 Quiz: PIT, PAYE and Withholding Tax

Module 3: Value Added Tax (VAT) Under the Nigeria Tax Act 2025

You will be able to decide when VAT applies, value taxable supplies, claim input VAT, apply the reverse charge and work out the VAT payable for a period.

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3.1 VAT Overview

3.2 Introduction to VAT and How It Applies

3.3 Q&A: VAT Basics

3.4 VAT Threshold, Taxable Supplies and Exported Services

3.5 VAT Agents, VAT on Commission and VAT on Imports

3.6 Time of Supply

3.7 VAT on Discounts, Advertisements by Non-Residents and Remission by Enterprises

3.8 Value of Taxable Supplies, VAT Withholding, Input VAT and Reverse Charge

3.9 Conditions for Claiming Input VAT and VATable Products

3.10 Small Companies and VAT

3.11 Determining VAT Payable

3.12 Fiscalisation of Supplies for VAT

3.13 Exempt Supplies and Zero-Rated Supplies

Module 3 Quiz: Value Added Tax

Module 4: Tax Offences, Penalties, Tax Administration and Filing on TaxPro Max

You will be able to identify tax offences and penalties, understand desk reviews and investigations, and file VAT and WHT returns on TaxPro Max.

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4.1 Tax Offences and Penalties

4.2 Q&A: Offences, Penalties and Tax Compliance

4.3 Deferred VAT Liabilities, Desk Reviews, Tax Investigations and Tax Management

4.4 Demo: Filing VAT Returns on TaxPro Max

4.5 Demo: Filing WHT Returns on TaxPro Max

Module 4 Quiz: Penalties, Tax Administration and Filing

Module 5: Computing Company Income Tax and Capital Allowances

You will be able to adjust accounting profit for tax, separate allowable from disallowable expenses, compute capital allowances and prepare a full company income tax computation.

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5.1 Introduction to Company Income Tax (CIT)

5.2 Determining Adjusted Profit

5.3 Disallowable Expenses (Section 21)

5.4 Classifying Allowable and Disallowable Expenses

5.5 Company Income Tax Computation

5.6 Capital Allowance Computation

5.7 Capital Allowances and Fixed Asset Schedule Computation

Module 5 Quiz: Company Income Tax and Capital Allowances

Module 6: Applying the Withholding Tax Regulations

You will be able to explain the legal framework for deducting tax at source and apply the 2024 Withholding Tax Regulations to real transactions.

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6.1 Understanding Deduction of Tax at Source

6.2 Withholding Tax Illustration

6.3 The Legal Framework for Withholding Tax

6.4 The Withholding Tax Regulations in Detail

6.5 Q&A: Withholding Tax Regulations

Module 6 Quiz: Withholding Tax Regulations

Module 7: Final Assessment and Certification

Complete the final test and case study assessment to earn your certificate.

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New Tax Act 2025: Nigeria Tax Act Practical Course

Requirements for charging WHT, VAT

e-invoicing

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