Question Tag: Tertiary Education Tax

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ATAX – May 2016 – L3 – Q2 – Petroleum Profits Tax (PPT)

Compute assessable and chargeable profits, assessable and chargeable taxes, and tertiary education tax for Sky Petroleum Plc.

Question

Sky Petroleum Plc commenced operations over ten years ago and makes up accounts to December 31 annually. The following details have been extracted from the accounting records for the year ended December 31, 2014:

Details	Amount
Crude Oil Exported	3,500,000 barrels
Crude Oil Used Locally	1,200,000 barrels at ₦100 per barrel
Incidental Income from Petroleum Operations	₦26,750,000
Exploration and Drilling Costs	₦30,000,000
Management and Administration Expenses	₦240,500,000
Non-Productive Rents	₦8,300,000
Allowance for Bad Debts – General	₦7,500,000
Allowance for Bad Debts – Specific	₦11,200,000
Depreciation	₦7,250,000
Losses Brought Forward	₦13,200,000

Qualifying Capital Expenditure:

Asset	Date Acquired	Location	Amount (₦)
Pipeline and Storage Tanks	March 2014	Continental Shelf (190m water depth)	₦48,000,000
Plant and Machinery	June 2012	Territorial Waters (90m water depth)	₦63,800,000
Furniture and Fittings	May 2011	Territorial Waters (95m water depth)	₦21,000,000
Building	April 2013	Onshore	₦71,000,000

Breakdown of Management and Administration Expenses:

Item	Amount (₦)
Donations to Political Parties	₦8,500,000
Expenditure for Petroleum Deposit Information	₦4,700,000
Companies Income Tax of an Associated Company	₦5,000,000
Interest on Inter-Company Loans (at market terms)	₦2,600,000
Staff Salaries	₦175,000,000
Royalties on Export Sales	₦6,200,000
Repairs and Renewals on PPE for Petroleum Operations	₦2,900,000
Rents Paid for Oil Prospecting License	₦3,600,000
Other Administrative Expenses	₦32,000,000
Total	₦240,500,000

Additional Information:

International market price of crude oil in 2014 was USD $75 per barrel.
Exchange rate: USD $1 = ₦280.

Required:

a. Compute the Assessable Profit. (11 Marks)
b. Compute the Chargeable Profit. (5 Marks)
c. Compute the Assessable Tax. (1 Mark)
d. Compute the Chargeable Tax. (2 Marks)
e. Compute the Tertiary Education Tax. (1 Mark)

Answer

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Tags: Assessable Tax, Chargeable Tax, Petroleum Profits, Tertiary Education Tax
Level: Level 3

Topic: Petroleum Profits Tax (PPT)

ATAX – May 2021 – L3 – Q1 – Taxation of Companies

Computation of CIT and TET for 2017-2019, advisory on AfCFTA impacts on trade, and evaluation of Country-by-Country Reporting obligations.

Question

DIY Limited was incorporated on June 12, 2010, and commenced commercial activities on October 1, 2011.
The primary activities of the company are the manufacture, distribution, and sale of solar panels for domestic use. DIY Limited has its main factory in Daura, Katsina State, Northern Nigeria, and distributors in Kaduna, Abeokuta, Onitsha, and Ilorin.

Extracts from the company’s audited financial statements for 2016 to 2018 are as follows:

Note:

20% of “other overheads” represent depreciation and amortization for each year.
Capital allowances for the respective years represent 150% of depreciation and amortization.

Chief Musa Jugula (MJ), the owner and founder of DIY Limited, owns 70% of the shares of the company while the remaining 30% shares are currently held by his three children and two wives.

Chief MJ is considering expanding into Ghana, exploring either a branch or a subsidiary model. He is also interested in the African Continental Free Trade Area agreement and its implications compared to the ECOWAS region.

Forecast financial performance for 2021 to 2023:

Required:

a. Compute the Companies Income Tax (CIT) and Tertiary Education Tax (TET) payable by DIY Limited for 2017 to 2019 years of assessment and comment on any issues you consider as enablers or hindrances to investment promotion in Nigeria. Assume a tax written-down value of qualifying capital expenditure (QCE) of ₦230 million, unutilized losses of ₦28 million, and capital allowances brought forward of ₦50 million for the 2017 year of assessment.

b. As the Managing Partner of Poknos & Co, write a brief advice to Chief Musa Jugula about the African Continental Free Trade Area agreement and how the treaty compares to that of Economic Community of West African States (ECOWAS) region from the perspective of trade in goods. Your advice should cover both opportunities and challenges that may arise from the implementation of the African Continental Free Trade Agreement. (10 Marks)

c. Advise with reasons:
i. If DIY Limited is liable to prepare and submit Country-by-Country Reports (CbCR). (5 Marks)
ii. The relevant tax authority where the Country-by-Country Reports (CbCR) should be submitted, assuming it is applicable to the company. (5 Marks)

Answer

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Topic: Taxation of Companies

AT – May – 2018 – L3 – SC – Q6 – Companies Income Tax (CIT)

Tax computation for Obi Airlines Limited operating in Ethiopia, including Total Profits and tax liabilities in Nigeria for income sourced from Nigeria.

Question

Chief Bonny Chizaram is the Chairman/CEO of Chizaram group of companies. The conglomerate operates in several states of Nigeria, with business interests in supply of building materials, transport, and banking.

In 2012, under the Chairman’s directive, the group decided to diversify its business into some African countries by establishing Obi Airlines Limited, incorporated in Ethiopia.

On May 25, 2016, as Chief Chizaram was in the executive lounge of Murtala Mohammed International Airport, Lagos, awaiting departure, he met his long-time friend and business colleague, Chief Roger Menkiti, who is also an entrepreneur.

During their discussion, Chief Menkiti expressed interest in understanding the benefits of investing in Ethiopia, with concerns about Companies Income Tax and Tertiary Education Tax payable in Nigeria if he started an airline business in Ethiopia.

The financial results of Obi Airlines Limited for the year ended December 31, 2015, are as follows:

Description	Amount (₦)
Income from passenger flights on other routes	213,668,750
Income from cargo loaded into aircraft on other routes	218,280,000
Income from passenger flights from Nigeria	54,401,275
Income from cargo loaded into aircraft from Nigeria	49,938,180
Total Income	536,288,205
Deduct:
Depreciation	1,974,125
Staff salaries	14,373,968
General provision	215,050
Other expenses	579,913
Total Deductions	17,143,056
Net Profit	519,145,149

Additional Information:

Capital allowances were agreed with the relevant authority at 110% of the depreciation charged.
Other expenses include disallowable expenses amounting to ₦425,000.

Required:

As the Tax Consultant, prepare computations showing:

a. Total Profits of Obi Airlines Limited for Nigerian tax purposes. (12 Marks)
b. Companies Income Tax Liability for the relevant year of assessment. (2 Marks)
c. Tertiary Education Tax Liability. (1 Mark)

(Total 15 Marks)

Answer

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Tags: Airline Taxation, Companies Income Tax, Non-Resident Companies, Tax Liability, Tertiary Education Tax
Level: Level 3

Topic: Companies Income Tax (CIT)
Series: MAY 2018

AT – May 2018 – L3 – SB – Q4b – Double Taxation Reliefs and Credits

Calculate the final tax liability for Oduifa Construction Ltd., considering foreign income and double taxation relief.

Question

Engineer Kole Ahmed manages a wholly owned Nigerian engineering outfit – Oduifa Construction Company Limited, based at Ikeja and incorporated in February 2010.

Given the challenging economic environment in Nigeria and inconsistent government policies, the company’s management embarked on foreign diversification of income. They sourced and secured some contracts in the United Kingdom where they have operational activities in London.

Extracts from the Statement of Profit or Loss for the year ended December 31, 2015, for Lagos and London operations, are as follows:

Description	Lagos (N)	London (N)	Global (N)
Revenue	68,000,000	70,200,000	138,200,000
Direct expenses	(43,410,000)	(44,050,000)	(87,460,000)
Gross profit	24,590,000	26,150,000	50,740,000
Administrative expenses:
– Staff salaries	1,200,000	1,440,000	2,640,000
– Rent and rates	840,000	960,000	1,800,000
– Motor vehicle expenses	136,000	148,000	284,000
– Repairs and maintenance	92,000	106,500	198,500
– Utilities	76,840	81,000	157,840
– Business insurances	55,000	60,000	115,000

Capital allowances: N725,000.

Required: Compute the final tax liability of the company for the relevant assessment year. (15 Marks)

Answer

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Tags: Companies Income Tax, Double taxation relief, Foreign income, Tertiary Education Tax
Level: Level 3

Topic: Double Taxation Reliefs and Credits
Series: MAY 2018

AT – Nov 2017 – L3 – Q2 – Taxation of Companies

Compute assessable profit, chargeable profit, and tax for Skkye Petroleum Plc.

Question

Skkye Petroleum Plc. began operations over ten years ago and uses December 31 as its accounting date. The following details were extracted from the accounting records for the year ended December 31, 2016:

Crude oil exported – 3,500,000 barrels
Crude oil used locally – 1,200,000 barrels at N100 per barrel
Incidental income from petroleum operations – ₦26,750,000
Exploration and drilling costs – ₦30,000,000
Management and administration expenses – ₦240,500,000
Non-productive rents – ₦8,300,000
Provision for bad debts:
- General – ₦7,500,000
- Specific – ₦11,200,000
Depreciation – ₦7,250,000
Losses brought forward – ₦13,200,000

Qualifying capital expenditures:

Pipeline and storage tanks (March 2016, Continental Shelf, 190 meters depth) – ₦48,000,000
Plant and machinery (June 2014, Territorial Waters, 90 meters depth) – ₦63,800,000
Furniture and fittings (May 2013, Territorial Waters, 95 meters depth) – ₦21,000,000
Buildings (April 2015, onshore) – ₦71,000,000

Breakdown of Management and Administration expenses:

Donations to XYZ Political Party – ₦8,500,000
Expenditure on information regarding petroleum deposits – ₦4,700,000
Companies income tax of an associated company – ₦5,000,000
Interest on inter-company loans (market terms) – ₦2,600,000
Staff salaries – ₦175,000,000
Royalties on export sales – ₦6,200,000
Repairs and renewals on PPE for petroleum operations – ₦2,900,000
Rent for land/buildings under an Oil Prospecting License – ₦3,600,000
Other administrative expenses – ₦32,000,000

The international market price of crude oil in 2016 was USD $75 per barrel, with an exchange rate of USD $1 = ₦280.

Required:
a. Compute the assessable profit.
b. Compute the chargeable profit.
c. Compute the assessable tax.
d. Compute the chargeable tax.
e. Compute the Tertiary Education Tax.

Answer

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Tags: Assessable Profit, Chargeable Profit, Petroleum Operations, Tax computation, Tertiary Education Tax
Level: Level 3

Topic: Taxation of Companies
Series: NOV 2017

TAX – May 2017 – L2 – SC – Q6 – Companies Income Tax

Compute capital allowances and determine total profits, CIT, and TET for a manufacturing company.

Question

Campbell Limited, located in Arama Town, has been in business since 1994 and manufactures plastic containers. The company’s accounts for the year ended December 31, 2014, showed the following results:

Additional Information:

Unutilised Capital Allowance brought forward: N70,000
Tax Written Down Values of assets purchased in 2011:
- Motor vehicles: N40,000
- Furniture and Fittings: N60,000
- Plant: N70,000
In 2014, the company purchased the following assets:
- 2 Motor vehicles: N840,000
- 4 Furniture and Fittings: N160,000
- 1 Generating set: N300,000

Required:

a. Compute Capital Allowances assuming assets purchased in 2011 have been used for two years. (7 Marks)
b. Compute the Total Profits, Companies Income Tax (CIT), and Tertiary Education Tax (TET) for the relevant year of assessment. (8 Marks)

Answer

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Tags: Capital allowances, CIT, Corporate Tax, Tertiary Education Tax
Level: Level 2

Topic: Companies Income Tax (CIT)
Series: MAY 2017

TAX – Nov 2018 – L2 – SB – Q2 – Companies Income Tax (CIT)

Compute total profit and companies' income tax payable, calculate tertiary education tax, and identify exempt companies from minimum tax.

Question

Adamu Musa Company Limited is a Nigerian telecommunications company that has been in business for several years. The company’s annual report for the year ended October 31, 2017, provides the following summary of the statement of profit or loss:

Gross profit: N3,062,500
Dividend received from other Nigerian companies (gross): N175,000
Profit on sale of property, plant, and equipment: N160,000
Rents received (gross): N140,000
Expenses:
- Rent paid: N250,000
- Wages and salaries: N725,000
- Lighting and air conditioning: N37,500
- Travelling expenses: N50,000
- Rates: N60,000
- Repairs to premises: N150,000
- Depreciation: N125,000
- Bad debts written off: N50,000
- Income tax provision: N175,000
- Stationery: N75,000
- Postages and telephone: N30,000
- Business name sign post: N10,000
- Legal expenses: N100,000
- General expenses: N200,000
- Expansion of cold room: N500,000

Additional information:

Bad debts include general provisions of N22,500 written off on the sale of trade inventory.
Legal expenses include N25,000 for acquiring a new lease and N12,500 for renewing an old lease.
General expenses include
Travelling expenses include Chief Taragi‟s (managing director) private hotel bill of N11,250

Capital allowances agreed with the tax office total N125,000.
Withholding tax at 10% was deducted from rental income.

Required:
(a) Compute the total profit and companies’ income tax payable.
(b) Calculate tertiary education tax (TET).
(c) State five categories of companies liable to information technology tax.

Answer

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Tags: CIT Computation, Companies Income Tax, Exempt Companies, Tertiary Education Tax
Level: Level 2

Topic: Companies Income Tax (CIT)
Series: NOV 2018

ATAX – May 2016 – L3 – Q2 – Petroleum Profits Tax (PPT)

Compute assessable and chargeable profits, assessable and chargeable taxes, and tertiary education tax for Sky Petroleum Plc.

Question

Details	Amount
Crude Oil Exported	3,500,000 barrels
Crude Oil Used Locally	1,200,000 barrels at ₦100 per barrel
Incidental Income from Petroleum Operations	₦26,750,000
Exploration and Drilling Costs	₦30,000,000
Management and Administration Expenses	₦240,500,000
Non-Productive Rents	₦8,300,000
Allowance for Bad Debts – General	₦7,500,000
Allowance for Bad Debts – Specific	₦11,200,000
Depreciation	₦7,250,000
Losses Brought Forward	₦13,200,000

Qualifying Capital Expenditure:

Asset	Date Acquired	Location	Amount (₦)
Pipeline and Storage Tanks	March 2014	Continental Shelf (190m water depth)	₦48,000,000
Plant and Machinery	June 2012	Territorial Waters (90m water depth)	₦63,800,000
Furniture and Fittings	May 2011	Territorial Waters (95m water depth)	₦21,000,000
Building	April 2013	Onshore	₦71,000,000

Breakdown of Management and Administration Expenses:

Item	Amount (₦)
Donations to Political Parties	₦8,500,000
Expenditure for Petroleum Deposit Information	₦4,700,000
Companies Income Tax of an Associated Company	₦5,000,000
Interest on Inter-Company Loans (at market terms)	₦2,600,000
Staff Salaries	₦175,000,000
Royalties on Export Sales	₦6,200,000
Repairs and Renewals on PPE for Petroleum Operations	₦2,900,000
Rents Paid for Oil Prospecting License	₦3,600,000
Other Administrative Expenses	₦32,000,000
Total	₦240,500,000

Additional Information:

International market price of crude oil in 2014 was USD $75 per barrel.
Exchange rate: USD $1 = ₦280.

Required:

Answer

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Tags: Assessable Tax, Chargeable Tax, Petroleum Profits, Tertiary Education Tax
Level: Level 3

Topic: Petroleum Profits Tax (PPT)

ATAX – May 2021 – L3 – Q1 – Taxation of Companies

Computation of CIT and TET for 2017-2019, advisory on AfCFTA impacts on trade, and evaluation of Country-by-Country Reporting obligations.

Question

Extracts from the company’s audited financial statements for 2016 to 2018 are as follows:

Note:

20% of “other overheads” represent depreciation and amortization for each year.
Capital allowances for the respective years represent 150% of depreciation and amortization.

Chief Musa Jugula (MJ), the owner and founder of DIY Limited, owns 70% of the shares of the company while the remaining 30% shares are currently held by his three children and two wives.

Forecast financial performance for 2021 to 2023:

Required:

Answer

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Topic: Taxation of Companies

AT – May – 2018 – L3 – SC – Q6 – Companies Income Tax (CIT)

Tax computation for Obi Airlines Limited operating in Ethiopia, including Total Profits and tax liabilities in Nigeria for income sourced from Nigeria.

Question

In 2012, under the Chairman’s directive, the group decided to diversify its business into some African countries by establishing Obi Airlines Limited, incorporated in Ethiopia.

The financial results of Obi Airlines Limited for the year ended December 31, 2015, are as follows:

Description	Amount (₦)
Income from passenger flights on other routes	213,668,750
Income from cargo loaded into aircraft on other routes	218,280,000
Income from passenger flights from Nigeria	54,401,275
Income from cargo loaded into aircraft from Nigeria	49,938,180
Total Income	536,288,205
Deduct:
Depreciation	1,974,125
Staff salaries	14,373,968
General provision	215,050
Other expenses	579,913
Total Deductions	17,143,056
Net Profit	519,145,149

Additional Information:

Capital allowances were agreed with the relevant authority at 110% of the depreciation charged.
Other expenses include disallowable expenses amounting to ₦425,000.

Required:

As the Tax Consultant, prepare computations showing:

(Total 15 Marks)

Answer

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Tags: Airline Taxation, Companies Income Tax, Non-Resident Companies, Tax Liability, Tertiary Education Tax
Level: Level 3

Topic: Companies Income Tax (CIT)
Series: MAY 2018

AT – May 2018 – L3 – SB – Q4b – Double Taxation Reliefs and Credits

Calculate the final tax liability for Oduifa Construction Ltd., considering foreign income and double taxation relief.

Question

Engineer Kole Ahmed manages a wholly owned Nigerian engineering outfit – Oduifa Construction Company Limited, based at Ikeja and incorporated in February 2010.

Extracts from the Statement of Profit or Loss for the year ended December 31, 2015, for Lagos and London operations, are as follows:

Description	Lagos (N)	London (N)	Global (N)
Revenue	68,000,000	70,200,000	138,200,000
Direct expenses	(43,410,000)	(44,050,000)	(87,460,000)
Gross profit	24,590,000	26,150,000	50,740,000
Administrative expenses:
– Staff salaries	1,200,000	1,440,000	2,640,000
– Rent and rates	840,000	960,000	1,800,000
– Motor vehicle expenses	136,000	148,000	284,000
– Repairs and maintenance	92,000	106,500	198,500
– Utilities	76,840	81,000	157,840
– Business insurances	55,000	60,000	115,000

Capital allowances: N725,000.

Required: Compute the final tax liability of the company for the relevant assessment year. (15 Marks)

Answer

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Tags: Companies Income Tax, Double taxation relief, Foreign income, Tertiary Education Tax
Level: Level 3

Topic: Double Taxation Reliefs and Credits
Series: MAY 2018

AT – Nov 2017 – L3 – Q2 – Taxation of Companies

Compute assessable profit, chargeable profit, and tax for Skkye Petroleum Plc.

Question

Crude oil exported – 3,500,000 barrels
Crude oil used locally – 1,200,000 barrels at N100 per barrel
Incidental income from petroleum operations – ₦26,750,000
Exploration and drilling costs – ₦30,000,000
Management and administration expenses – ₦240,500,000
Non-productive rents – ₦8,300,000
Provision for bad debts:
- General – ₦7,500,000
- Specific – ₦11,200,000
Depreciation – ₦7,250,000
Losses brought forward – ₦13,200,000

Qualifying capital expenditures:

Pipeline and storage tanks (March 2016, Continental Shelf, 190 meters depth) – ₦48,000,000
Plant and machinery (June 2014, Territorial Waters, 90 meters depth) – ₦63,800,000
Furniture and fittings (May 2013, Territorial Waters, 95 meters depth) – ₦21,000,000
Buildings (April 2015, onshore) – ₦71,000,000

Breakdown of Management and Administration expenses:

Donations to XYZ Political Party – ₦8,500,000
Expenditure on information regarding petroleum deposits – ₦4,700,000
Companies income tax of an associated company – ₦5,000,000
Interest on inter-company loans (market terms) – ₦2,600,000
Staff salaries – ₦175,000,000
Royalties on export sales – ₦6,200,000
Repairs and renewals on PPE for petroleum operations – ₦2,900,000
Rent for land/buildings under an Oil Prospecting License – ₦3,600,000
Other administrative expenses – ₦32,000,000

The international market price of crude oil in 2016 was USD $75 per barrel, with an exchange rate of USD $1 = ₦280.

Required:
a. Compute the assessable profit.
b. Compute the chargeable profit.
c. Compute the assessable tax.
d. Compute the chargeable tax.
e. Compute the Tertiary Education Tax.

Answer

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Tags: Assessable Profit, Chargeable Profit, Petroleum Operations, Tax computation, Tertiary Education Tax
Level: Level 3

Topic: Taxation of Companies
Series: NOV 2017

TAX – May 2017 – L2 – SC – Q6 – Companies Income Tax

Compute capital allowances and determine total profits, CIT, and TET for a manufacturing company.

Question

Additional Information:

Unutilised Capital Allowance brought forward: N70,000
Tax Written Down Values of assets purchased in 2011:
- Motor vehicles: N40,000
- Furniture and Fittings: N60,000
- Plant: N70,000
In 2014, the company purchased the following assets:
- 2 Motor vehicles: N840,000
- 4 Furniture and Fittings: N160,000
- 1 Generating set: N300,000

Required:

Answer

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Tags: Capital allowances, CIT, Corporate Tax, Tertiary Education Tax
Level: Level 2

Topic: Companies Income Tax (CIT)
Series: MAY 2017

TAX – Nov 2018 – L2 – SB – Q2 – Companies Income Tax (CIT)

Compute total profit and companies' income tax payable, calculate tertiary education tax, and identify exempt companies from minimum tax.

Question

Gross profit: N3,062,500
Dividend received from other Nigerian companies (gross): N175,000
Profit on sale of property, plant, and equipment: N160,000
Rents received (gross): N140,000
Expenses:
- Rent paid: N250,000
- Wages and salaries: N725,000
- Lighting and air conditioning: N37,500
- Travelling expenses: N50,000
- Rates: N60,000
- Repairs to premises: N150,000
- Depreciation: N125,000
- Bad debts written off: N50,000
- Income tax provision: N175,000
- Stationery: N75,000
- Postages and telephone: N30,000
- Business name sign post: N10,000
- Legal expenses: N100,000
- General expenses: N200,000
- Expansion of cold room: N500,000

Additional information:

Bad debts include general provisions of N22,500 written off on the sale of trade inventory.
Legal expenses include N25,000 for acquiring a new lease and N12,500 for renewing an old lease.
General expenses include
Travelling expenses include Chief Taragi‟s (managing director) private hotel bill of N11,250

Capital allowances agreed with the tax office total N125,000.
Withholding tax at 10% was deducted from rental income.

Answer

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Tags: CIT Computation, Companies Income Tax, Exempt Companies, Tertiary Education Tax
Level: Level 2

Topic: Companies Income Tax (CIT)
Series: NOV 2018

Question Tag: Tertiary Education Tax

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ATAX – May 2016 – L3 – Q2 – Petroleum Profits Tax (PPT)

Compute assessable and chargeable profits, assessable and chargeable taxes, and tertiary education tax for Sky Petroleum Plc.

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ATAX – May 2021 – L3 – Q1 – Taxation of Companies

Computation of CIT and TET for 2017-2019, advisory on AfCFTA impacts on trade, and evaluation of Country-by-Country Reporting obligations.

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AT – May – 2018 – L3 – SC – Q6 – Companies Income Tax (CIT)

Tax computation for Obi Airlines Limited operating in Ethiopia, including Total Profits and tax liabilities in Nigeria for income sourced from Nigeria.

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AT – May 2018 – L3 – SB – Q4b – Double Taxation Reliefs and Credits

Calculate the final tax liability for Oduifa Construction Ltd., considering foreign income and double taxation relief.

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AT – Nov 2017 – L3 – Q2 – Taxation of Companies

Compute assessable profit, chargeable profit, and tax for Skkye Petroleum Plc.

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TAX – May 2017 – L2 – SC – Q6 – Companies Income Tax

Compute capital allowances and determine total profits, CIT, and TET for a manufacturing company.

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TAX – Nov 2018 – L2 – SB – Q2 – Companies Income Tax (CIT)

Compute total profit and companies' income tax payable, calculate tertiary education tax, and identify exempt companies from minimum tax.

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ATAX – May 2016 – L3 – Q2 – Petroleum Profits Tax (PPT)

Compute assessable and chargeable profits, assessable and chargeable taxes, and tertiary education tax for Sky Petroleum Plc.

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ATAX – May 2021 – L3 – Q1 – Taxation of Companies

Computation of CIT and TET for 2017-2019, advisory on AfCFTA impacts on trade, and evaluation of Country-by-Country Reporting obligations.

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AT – May – 2018 – L3 – SC – Q6 – Companies Income Tax (CIT)

Tax computation for Obi Airlines Limited operating in Ethiopia, including Total Profits and tax liabilities in Nigeria for income sourced from Nigeria.

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AT – May 2018 – L3 – SB – Q4b – Double Taxation Reliefs and Credits

Calculate the final tax liability for Oduifa Construction Ltd., considering foreign income and double taxation relief.

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AT – Nov 2017 – L3 – Q2 – Taxation of Companies

Compute assessable profit, chargeable profit, and tax for Skkye Petroleum Plc.

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TAX – May 2017 – L2 – SC – Q6 – Companies Income Tax

Compute capital allowances and determine total profits, CIT, and TET for a manufacturing company.

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TAX – Nov 2018 – L2 – SB – Q2 – Companies Income Tax (CIT)

Compute total profit and companies' income tax payable, calculate tertiary education tax, and identify exempt companies from minimum tax.

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