- 12 Marks
TAX – May 2019 – L2 – Q3a – The Nigerian Tax System
Explain tax collection responsibilities of different government tiers and define residency rules for tax purposes in Nigeria.
Question
Mr. Chukwudi, your mentee from childhood, has always been guided by your advice. He travelled to the United States to actualise his dreams. He subsequently obtained a degree in accountancy/taxation from a leading University and worked in the United States until November 30, 2016, when he returned to Nigeria. In January 2017, he attended a written interview for a post of a tax manager at the Federal Inland Revenue Service but failed the interview because of his poor knowledge of the Nigerian tax laws. Mr. Chukwudi is likely to be shortlisted for the position of inspector of taxes in his state of origin and has sought your advice on some areas of the Nigerian tax laws.
You are required to provide explanations on the following:
(a) (i) The various tiers of government and their revenue authorities, responsible for the collection of levies and taxes in Nigeria. (3 Marks)
(ii) Four specific taxes and levies collectible by different tiers of government. (6 Marks)
(iii) A resident individual in Nigeria, for a particular year of assessment. (3 Marks)
Find Related Questions by Tags, levels, etc.