- 15 Marks
AT – Nov 2023 – L3 – SC – Q6 – Tax Administration and Dispute Resolution
Outline of the fundamental features of NTP 2017 and principles from the IESBA codes for professional accountants.
Question
The National tax policy (NTP) 2017, provides fundamental guidelines for the orderly development of the Nigerian tax system. Professional accountants are one of the major stakeholders that are expected to drive the tenets of the tax policy for economic development of the country. In guiding professional accountants to behave in a responsible ethical manner, the International Ethics Standards Board for Accountants (IESBA) develops and issues in the public interest, high-quality ethical standards and other pronouncements for use by professional accountants around the world.
Required:
a. Explain FIVE fundamental features as provided for in the NTP 2017, which the existing and future taxes are expected to align with. (5 Marks)
b. Identify and explain FOUR principles and guidance for accountants as specified in the IESBA codes. (10 Marks)
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