What is the meaning of Taxation as define in the unit?

List and explain at least 3 objectives of Taxation?

What is the difference between Progressive Tax System and Regressive Tax System?

List and 10 criteria of a Good Tax System?

Describe the 3 objectives of tax policy?

What is the meaning of Residence, Domicile and non-residence?

List at least 3 rules that are used to determine residence of an individual?

From a tax point of view what is the meaning of:

Sole Trader

An employee

A Partnership

A corporation

10. List and explain at least 3 powers of the Inland Revenue Department?

11. Employment income is comprised of?

12. List all the sources of income of an individual as noted in unit 3?

13. Define the following as per definitions given in unit 3?

Emolument

Non-emolument

Employer

Chargeable Income

Allowable Deductions

Personal allowance/Income Tax Threshold

Tax Credit

Capital Gain Tax

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