Subject: Contemporary taxation

Assignment 04

Due date Sunday 26, 2021

Task 1.

What are the revenue and non-revenue objectives of taxation with reference to;

• Tax on salary / income from business
• Any amount transferred otherwise than banking channel will be deemed as income
• Tax on moveable assets of the taxpayers
• Higher taxes on import of luxury goods
• Allowability of expenditure of research & developments
• Zero rating on Exports
• Tax credit on Donations to approved institutions
• Tax credit on investments
• Tax exemptions to software exports