Do Tax Yourself (DTY)
DURATION: 2 DAYS
The fear of tax authorities is the beginning of wisdom. A successful business can be brought down to its knees because of non-compliance and non-payment of taxes to the tax agencies. Many small and medium scale enterprises are victims of this avoidable circumstance.
To get off the hook of the tax authorities, every business owner must be aware of the tax laws and must comply accordingly as ignorance is not taken to be an excuse.
Do Tax Yourself is a course made easy for entrepreneurs to comprehend the tax laws applicable to their business and carry out their tax duties as expected. The main objective of this course is to enhance entrepreneur’s ability to compute taxes, file returns, make remittances and carry out other tax obligations all by themselves.
Expected Learning Outcomes:
At the end of this programme, participants should able to:
- Distinguish between the different types of taxes affecting their business
- Explain the roles of the tax authorities and what to expect of them
- Explain the monthly and yearly tax obligations that are applicable to their business
- Explain the filing procedures and tax rates for each tax
- Discuss the contemporary issues in the current tax system
- File returns and make payments
Module 1: Overview of basic financial records
- Getting your books ready for tax
Module 2: Introduction to taxation
- Tax agencies and their roles
- Identifying the different types of taxes
Module 3: Value Added Tax Management
Module 4: Withholding Tax Management
Module 5: Overview of Personal Income Tax
Module 6: Overview of Company Income Tax
Module 5: Registration, remittances and filing procedures
Tax computation worksheets will be used in class