National Tax Policy – NBC Institute

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)

Answer

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Topic: Tax Administration and Dispute Resolution
Series: NOV 2023

TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement

Explain the roles and responsibilities of government, taxpayers, and revenue agencies in Nigeria’s National Tax Policy.

Question

In line with the provisions of the revised National Tax Policy (NTP) in 2017, explain the roles and responsibilities of the following stakeholders:

i. The government (3 Marks)
ii. The taxpayers (3 Marks)
iii. Revenue agencies (3 Marks)

Answer

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Tags: Government Roles, National Tax Policy, Revenue Agency Duties, Tax Administration, Taxpayer Responsibilities
Level: Level 2

Topic: Tax Administration and Enforcement

TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System

Identify which responsibility is not a part of the National Tax Policy 2017 for all levels of government.

Question

Under the national tax policy (NTP), 2017, which of the following is NOT a specific responsibility of all levels and arms of government?
A. Implement and regularly review tax policies and laws
B. Provide information on all revenues collected on a quarterly basis
C. Ensure adequate funding, administrative and operational autonomy of tax authorities
D. Ensure that aspiring political office holders clearly understand the tax policy and the Nigerian tax system and are able to articulate their plans for the tax system for which they will be held accountable
E. Ensure a reasonable transition period of between three and six months before implementation of a new tax

Answer

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Tags: Government Responsibilities, National Tax Policy, NTP 2017, Tax Administration
Level: Level 1

Topic: The Nigerian Tax System
Series: NOV 2020

TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement

Multiple-choice question on cooperation in implementing the National Tax Policy.

Question

In the development and implementation of the National tax policy, the Federal Ministry of Finance, has a pivotal role to play and shall take appropriate steps to ensure that it receives cooperation from the following, EXCEPT
A. The President and the Governors
B. Legislature
C. Ministry of Finance
D. Ministries, departments, and agencies (MDAs)
E. A local government Chairman

Answer

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Tags: Cooperation, Federal Ministry of Finance, Local Government, National Tax Policy, Tax Policy
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

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

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)

Answer

Find Related Questions by Tags, levels, etc.

Topic: Tax Administration and Dispute Resolution
Series: NOV 2023

TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement

Explain the roles and responsibilities of government, taxpayers, and revenue agencies in Nigeria’s National Tax Policy.

Question

In line with the provisions of the revised National Tax Policy (NTP) in 2017, explain the roles and responsibilities of the following stakeholders:

i. The government (3 Marks)
ii. The taxpayers (3 Marks)
iii. Revenue agencies (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Government Roles, National Tax Policy, Revenue Agency Duties, Tax Administration, Taxpayer Responsibilities
Level: Level 2

Topic: Tax Administration and Enforcement

TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System

Identify which responsibility is not a part of the National Tax Policy 2017 for all levels of government.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Government Responsibilities, National Tax Policy, NTP 2017, Tax Administration
Level: Level 1

Topic: The Nigerian Tax System
Series: NOV 2020

TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement

Multiple-choice question on cooperation in implementing the National Tax Policy.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cooperation, Federal Ministry of Finance, Local Government, National Tax Policy, Tax Policy
Level: Level 1

Topic: Tax Administration and Enforcement
Series: MAY 2021

Question Tag: National Tax Policy

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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.

TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement

Explain the roles and responsibilities of government, taxpayers, and revenue agencies in Nigeria’s National Tax Policy.

TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System

Identify which responsibility is not a part of the National Tax Policy 2017 for all levels of government.

TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement

Multiple-choice question on cooperation in implementing the National Tax Policy.

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.

TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement

Explain the roles and responsibilities of government, taxpayers, and revenue agencies in Nigeria’s National Tax Policy.

TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System

Identify which responsibility is not a part of the National Tax Policy 2017 for all levels of government.

TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement

Multiple-choice question on cooperation in implementing the National Tax Policy.

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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.

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TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement

Explain the roles and responsibilities of government, taxpayers, and revenue agencies in Nigeria’s National Tax Policy.

You're reporting an error for "TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement"

TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System

Identify which responsibility is not a part of the National Tax Policy 2017 for all levels of government.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System"

TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement

Multiple-choice question on cooperation in implementing the National Tax Policy.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement"

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.

You're reporting an error for "AT – Nov 2023 – L3 – SC – Q6 – Tax Administration and Dispute Resolution"

TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement

Explain the roles and responsibilities of government, taxpayers, and revenue agencies in Nigeria’s National Tax Policy.

You're reporting an error for "TAX – Nov 2023 – L2 – Q3b – Tax Administration and Enforcement"

TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System

Identify which responsibility is not a part of the National Tax Policy 2017 for all levels of government.

You're reporting an error for "TAX – Nov 2020 – L1 – SA – Q6 – The Nigerian Tax System"

TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement

Multiple-choice question on cooperation in implementing the National Tax Policy.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q5 – Tax Administration and Enforcement"

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