Taxation

Where the marks are

Percentages are the examinable weighting for each area. Revising in this order puts your time where the marks are.

1. Companies Income Tax

   30%

   Taxation of non-specialised businesses · Taxation of specialised businesses

2. Personal Income Tax

   25%

   Taxation of employment income · Taxation of trusts, settlements and estates · Taxation of sole proprietorship · Taxation of partners in a partnership business · Taxation of investment income

3. Introduction to Taxation, Tax Administration and Ethics

   20%

   Introduction to taxation · Tax administration in Nigeria · Role and relationship between fiscal policy, tax legislation and administration · Revised National Tax Policy (NTP), 2017 · Basic ethical issues in taxation · Assessments, objections, appeals and remittances

4. Transactions Taxes

   20%

   Withholding tax (WHT) · Value added tax (VAT) · Stamp duties · Customs and excise duties · Surcharge on fossil fuel products

5. Application of Information Technology in Taxation

   5%

   Impact of information technology on tax practice and administration · Operations of the FIRS TaxPro Max solution relating to filing requirements and procedures · Taxes applicable to technology-based transactions · Challenges of technology on tax practice and administration

Where candidates lose this paper

The Institute publishes its own past questions. What it cannot give you is an answer to these.

There is not enough time to read the whole study text before the diet.

The official study text condensed and reorganised by examinable weighting, with every claim cited back to the page it came from — so you can check anything you doubt in one click.

You write practice answers for months and never find out whether a single one would have scored.

Write by hand, photograph it, and have it marked against the examiner's own marking guide — with the marks broken down the way the examiner breaks them down, and the reason for each one.

The study text is hundreds of pages and none of it tells you which parts the examiner actually asks about.

Every syllabus topic, ordered by the share of marks it carries, so your revision time follows the marks instead of the page count.

You know the answer but lose marks anyway, and no one ever explains where they went.

The Institute's published solution beside your attempt, with the mark allocation visible — so you can see the marks sitting in the principle and the application, not only the final figure.

You have only ever typed your answers, and the paper is written by hand.

Timed mocks written on paper, under exam conditions, so you discover how long handwriting takes before it costs you a question.