- 20 Marks
TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement
Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.
Question
Multiplicity of taxes and tax incidence are two challenges in taxation facing the top management of Ogoluwa Plc. They are aware that a number of tax provisions have been put in place to address multiplicity of taxes in Nigeria.
You are in charge of tax matters in the Finance Department of Ogoluwa Plc.
You are required to explain to the top management of Ogoluwa Plc:
a. Multiplicity of taxes (2 Marks)
b. Five types of multiple taxes (5 Marks)
c. The following concepts:
i. Tax Incidence (2 Marks)
ii. Tax Burden (2 Marks)
iii. Tax Impact (2 Marks)
iv. Tax Shift (2 Marks)
v. Tax Effect (2 Marks)
d. In the context of multiplicity of taxes, explain TWO tax provisions put in place to ensure that there is no multiplicity of taxes in Nigeria. (3 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Multiplicity of Taxes, Tax Burden, Tax Effect, Tax impact, Tax Incidence, Tax Shift
- Level: Level 2
- Topic: Tax Administration and Enforcement, The Nigerian Tax System
- Series: MAY 2018