BAF 3204: Principles of Taxation Notes

1006 Views

6 Purchases

Summary

CHAPTER ONE
THEORY OF
TAXATION
OBJECTIVES
At the end of this chapter, the student Should be able
to:
Understand the various types of taxes imposed in
Kenya
Explain the importance of taxes in a country
Explain the principles of taxation
Differentiate between direct and indirect taxation
Establish the different taxation systems
Explain the economical effects of taxation
Explain the role of taxation in achieving budgetary objectives.
INTRODUCTION
We begin our study of taxation with a look at the primary concepts and purposes of taxation.
This chapter covers the general theory of taxation and froms the foundation of taxation. It
contains major definitions that will be helpful in the subsequent chapters to follow.
DEFINITION OF KEY
TERMS
Tax: A compulsory payment by a tax payer to the state through the revenue authority without
involving a direct repayment of goods and services in return.
Budget: A budget is a statement which consists of the revenue and expenditure estimates of
the government for one particular year.
INDUSTRIAL
CONTEXT
As indicated above, the chapter contains the general theory of taxation that will enable a one
including tax consultants and budget analysts gain a general understanding of the
taxation framework in Kenya.
TAXATION DEFINED
Taxation is the part of public finance that deals with the earns by which the government
raises revenue from the public by imposing taxes which revenue is used by the government
to provide goods and services to the public or its citizens (to carry out government functions)
taxation may be referred to as the revenue raising activity of the government.
Public Finance is the department of economic theory that deals with public expenditure a
revenue. Economics deals with resource allocation and seeks to answer three questions of
whom to produce, how to produce and for whom to produce.
We will start by exploring the government expenditure, which is characterised by the expected
activities of a government. We will then look at the taxation as source of revenue to finances
the government expenditure.
GOVERNMENT ACTIVITIES
A government is expected to carry out some activities as part of its service to the public.
These activities are generally of universal application, but where applicable, a Kenyan example
is given.
......................................

Below is the document preview. Purchase to access the complete document.

........

This is the end of this document preview. Buy to download the complete document.

More Resources

Certificate in Plumbing Complete Notes
Certificate in Plumbing Complete Notes INTRODUCTION TO PLUMBING Specific objective a. Narrate the history of plumbing trade b. State relationship existing between plumbing and other building...

Price: KES : 100
Clinical Medicine: General Surgery Complete Notes
Download complete Clinical Medicine General surgery complete notes SURGERY MODULE 1 SURGERY 1 It has three units: 1. General introduction to surgery 2. Soft tissue...

Price: KES : 200
Digital Literacy Complete Notes
Enhance your digital literacy with comprehensive notes. Purchase now and receive instant delivery via WhatsApp, email, or direct download. 1.1 Determine concepts of ICT in accordance with computer...

Price: KES : 250
AEM 203 Agroecology II Notes
AEM 203 Agroecology II Notes University of Embu Bachelor of science in management of agro-ecosystems and environment Brief overview: Basic Concepts 1. Ecosystem: A piece of earth containing...

Price: KES : 1000
ISC 207 Management Information Systems Notes
Full notes on management of information systems. Get the full notes here Brief Overview: System Concept A system is an organized, purposeful structure regarded as a whole and consisting of...

Price: KES : 200
BASS 301: Religion and Science in East Africa Notes 2016/2017
Scientific methods of study and research Brief Overview: INTRODUCTION The following section attempts to explain the relationship between religion and science. It starts by explaining the...

Price: KES : 400
AEM 203 Agroecology Notes: Interaction between agriculture, global environment and social systems
The notes comprises origin of agriculture, the global food system and its influences on environment and its mitigation measures 2.0 INTERACTION BETWEEN AGRICULTURE, GLOBAL ENVIRONMENT AND SOCIAL...

Price: KES : 1000
Laboratory Manual on the Determination of Electrical Conductivity and Salinity of Water
This is a laboratory manual on the determination of electrical conductivity and salinity of water Experiment: Determination of the conductivity and salinity of water Introduction Conductivity is a...

Price: KES : 500
Kenyatta University EMP 201: Curriculum Development Notes
Document Length: 9 pages. The notes are all about curriculum Implementation and Teacher education, the definition of Curriculum Implementation, Strategies for Curriculum Implementation, Agencies of...

Price: KES : 150
Internet and Networking Revision Notes: Module III diploma in ICT
These are revision questions and answers for module III diploma in ICT. They are very understandable Q&A for exam preparation. DATA COMMUNICATION AND NETWORKS 1. Define the term Computer...

Price: KES : 200
TPR 202 Ethics/Introduction to Ethics Notes
These are the ethics notes from a researched background and they help one understand about social science. Please read and at the end of it you will benefit, am sure. TPR 202 ETHICS/ INTRODUCTION...

Price: KES : 150
Sociology Notes: Scope of Sociology
Sociological theory: A theory refers to a statement of general principles which try to explain the nature of things. A sociological theory is, therefore, a branch of sociology that attempts to...

Price: KES : 200
BLM 3312: Logistics Management Notes
Content covered in this document: - Definition of Logistics - Types of Logistics;inbound,outbound and reverse logistics - Diagrammatic representation of different types of...

Price: KES : 100
BBM 3324: Insurance Risk Management Notes
[ENVIRONMENTAL RESOURCE MANAGEMENT]ERM Challenges 1. Assessing ERM’s Value 2. Privilege 3. Defining Risk 4. Risk Assessment Methods 5. Qualitative Versus Quantitative risks 6. Time Horizon 7....

Price: KES : 100
SCS 2113: Management Information System Notes
Management information system MIS levels in organization Functions of MIS MANAGEMENT INFORMATION SYSTEM_2 STRUCTURE What does a management information system look like? What does a management...

Price: KES : 200
Conflict of Laws With Regard to Marriage
Introduction According to Fawcett, private international law (Conflict of Laws) is that part of domestic law which comes into operation whenever the court is faced with a claim that contains...

Price: KES : 1500
CLS 401: Professional Ethics Notes
Notes on Professional Ethics and practice for Law students, neatly summarized for easier reading and understanding. Each topic is outlined clearly. The notes cover most topics taught in professional...

Price: KES : 2000
ENTR 032: Introduction to Entrepreneurship
An entrepreneur is someone who conceives an idea, creates a path to success, does whatever it takes to succeed and tries to dominate their market since they're willing to risk almost everything to...

Price: KES : 100
EMA 412: Economics and Planning of Education Notes 4th year
These are lectures note for EMA412:ECONOMICS AND PLANING OF EDUCATION for 4th year for education students. Brief Overview: Educational Planning Is a conscious and deliberate Government effort...

Price: KES : 300
EMA 411: Educational Management and Administration Notes
These are lecture notes of EMA 411.EDUCATIONAL MANAGEMENT AND ADMINISTRATION for 4th year students for teaching and reading. Brief Overview: Organization – refers to the structure and...

Price: KES : 200
AEC 418: Project Appraisal and Evaluation - Introduction to Project Appraisal Notes
Content: This is an introduction to project appraisal and evaluation. 1. Introduction A project appraisal should entail the following: 1) A presentation and discussion of the socio-economic...

Price: KES : 300
AEC 418: Project Appraisal and Evaluation - Financial Appraisal Notes
This is a well illustrated topic about financial appraisal in the course project appraisal and evaluation. This topic has the following subtopics: (i) Total investments costs (ii) Fixed...

Price: KES : 50
ABA 431: Business Research Methods for Business Management Notes 4th Year
BUSINESS RESEARCH METHODS FOR BUSINESS MANAGEMENT for 4th year for education students .The notes can be used for teaching and learning. Brief Overview: 1.1 MEANING OF RESEARCH Research refers...

Price: KES : 300
BEC 3400: Economics of Public Policy Notes
These notes gives the full detail of economics of public policy which is taught to students in fourth year who take bachelor of science in economics. The notes are well summarized and in a simple and...

Price: KES : 200
Diploma in Clinical Medicine and Surgery Cims 0336: Medicine 2 Notes
This are notes for medicine 2,they can be used for teaching in clinical medicine and surgery Brief overview: RISK FACTORS Malnutrition and conditions with IS such as HIV LBW Large population...

Price: KES : 99
ENS 2100: Urbanization and environment Notes (One Sub-topic)
This contains only one sub-topic about the environment and urbanization well written and summarized Brief Overview: URBANIZATION AND ENVIRONMENT. In this paper we are going to discuss the...

Price: KES : 10
Professional Theory and Practice
This work gives the definition, history, concepts, nature, the empirical formulation, value & ethics, practice model, perspectives and practical interventions of behavioral theory. It gives clear...

Price: KES : 200
AEC 418 Project Appraisal and Evaluation - Economic Analysis of Projects
This is a topic about economic analysis of projects. it is an important topic in project appraisal and evaluation. It has the following sub topics (i) conversion of markets to accounting prices (ii)...

Price: KES : 200
AEC 418 Project Appraisal and Evaluation - Risk Assessment of Projects
This document is about the topic 'Risk assessment of projects'. Assessment of projects is a very important thing in project evaluation. The following are the key subtopics which are highlighted. (i)...

Price: KES : 100
EPY 110: Maseno University Introduction to Educational Psychology Notes
This is full notes for the students taking Education.Introduction to psychology comes in simple and easy to understand notes placed in point form. All the theories are described in a simple way and...

Price: KES : 50

What Our Users Say

Good Work

Joseph

"Your work guys is good. I've recommended your website to many teachers so far."

I will recommend you to parents

Jared

"Thanks I will recommend you to parents for learning content."

Your schemes are very good

Margaret

"Your schemes are very good and well planned am happy to be your customer."

Great problem solving skill

Babyghurl

"Thanks so much for your kindness ...This is a great problem solving skill."

Thanks for great care

Jelva

"Thanks for great care. I shall remain to be member more to introduce my colleagues."

You are doing a great job

Njoroge

"You are doing a great job."

Helpful website

Happy Teacher

"Hello. We appreciate your effort in updating the website, it's very helpful to teachers."

My issue has been solved

Henry

"My issue has been solved and thanks for being honest, I will continue getting materials from your website, it has a lot more that I need. Be Blessed."

Your service is exemplary

Robin

"Much appreciated.....your service is exemplary🙏🏽"

I will refer my friends

Milka

"Be blessed I will refer my friends. Good job."