ELEMENTS OF TAXATION

This course is aimed at equiping students with the basic knowledge in tax issues. It lays a foundation to the income tax course taught in the final year to those students who opt for accounting. It also helps those students who opt for other options to have some knowledge of Uganda’s tax system. Objectives of the course are to:

• Define a Tax and Taxation
• Explain the theories of taxation
• Distinguish between the various classes of taxes
• Outline the requirements of a good tax system
• Clearly analyze Uganda’s Tax structure
• Differentiate between a deficit budget and surplus budget explaining the objectives & short comings of each.

Compute VAT, employment income, business income and rental incomes for tax purposes and the respective taxes