ICAN Taxation (TAX): study notes The Nigeria Tax Act 2025, area by area, with worked computations and quizzes.

1. 01A. Introduction to Taxation, Tax Administration and EthicsThe foundations of Nigerian tax under the 2025 reforms. You will learn the concepts, types and canons of taxation and the sources of tax law; the Nigeria Tax Administration Act 2025, the jurisdiction of the Nigeria Revenue Service and the State tax authorities, and the composition of the State and local revenue bodies; the Act's administrative powers, from disclosure of tax planning to compounding offences; fiscal policy and the revised National Tax Policy 2017; ethics in tax practice under the IESBA and ICAN codes; and the compliance cycle of registration, returns, assessment, enforcement, objections, appeals, advance rulings and tax clearance, with every time limit and penalty taken from the Act.8 lessons · 6h+

   • Introduction to taxation45 min
   • Tax administration under the Nigeria Tax Administration Act 2025: the revenue bodies and their jurisdiction50 min
   • The administrative powers and rules of the Nigeria Tax Administration Act 202550 min
   • Fiscal policy and the revised National Tax Policy 201745 min
   • Ethics in taxation40 min
   • Registration, returns and assessments60 min
   • Collection, objections, appeals, dispute resolution and tax clearance55 min
   • Module 1 quiz15 min
2. 02B. Transactions TaxesThe taxes charged on transactions rather than on annual income, under the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025: withholding tax (who deducts, at what point, for which authority, and what happens when it is not deducted or remitted); value added tax, from the scope rules, registration and the small business threshold to a full monthly computation with apportionment, inventories, imports, refunds and the sharing of VAT revenue; stamp duties on dutiable instruments, including electronic transfers; customs and excise duties under the Nigeria Customs Service Act 2023; and the 5% surcharge on fossil fuel products. Every rate, time limit and penalty is cited to the Acts, and rates that regulations or tariffs set are used only as a question gives them.7 lessons · 5h 20m+

   • Withholding tax55 min
   • VAT: scope, registration, supplies and rates55 min
   • VAT: computing the liability, returns, refunds and special cases60 min
   • Stamp duties55 min
3. 03C. Personal Income TaxPersonal income tax under the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025, from the first question (is this person an employee, resident, and taxed by which authority?) to the tax payable. You will value employment income and benefits in kind, apply the exemptions, the section 28(2)(b) deductions, rent relief and the other eligible deductions, and tax chargeable income at the Fourth Schedule rates; compute and apportion the income of trusts, settlements and estates; adjust a sole trader's profits, match them to years of assessment on commencement, change of accounting date and cessation, and give capital allowances and loss relief; allocate partnership profits; and tax rent, dividends, royalties and interest, including franked investment income and contractor-financed projects.8 lessons · 7h 10m+

   • Employment income: residence, employment and the relevant tax authority50 min
   • Computing an employee's personal income taxFree preview75 min
   • Trusts, settlements and estates50 min
4. 04D. Companies Income TaxCompanies income tax under the Nigeria Tax Act 2025, from the first question in every company problem, whether it is a small company, to the tax the company pays. You will classify companies and apply the 0% and 30% rates, adjust accounting profit to assessable profit, apply the basis period rules, compute capital allowances under the First Schedule, relieve losses and prepare the full computation in the layout ICAN's answers use. You will then handle dividend substitution, deemed profits, the 15% minimum effective tax rate and deferred tax, the specialised businesses ICAN lists, from insurers and real estate companies to free zones, gaming and digital assets, and the 4% development levy.9 lessons · 7h 30m+

   • Companies income tax: who pays, types of company and rates40 min
   • Assessable profit: chargeable and exempt income, allowable expenses and basis periods65 min
   • Capital allowances for companies55 min
   • Loss relief and the companies income tax computation
5. 05E. Application of Information Technology in TaxationHow technology changes tax administration and tax practice under the Nigeria Tax Administration Act 2025, and what it brings into the tax net under the Nigeria Tax Act 2025. You will explain the impact of technology at each stage of the tax cycle, the NTAA's powers to automate, fiscalise and reach electronic records, the National Single Window Portal and the challenges for taxpayers, practitioners and authorities; then electronic filing through the federal platform, e-invoicing and VAT fiscalisation, VAT and income tax on non-resident digital businesses (including significant economic presence and the 4% minimum), digital assets and electronic instruments, with the penalties that support them.3 lessons · 1h 45m+

   • Information technology in tax practice and administration40 min
   • Electronic filing and taxes on technology-based transactions50 min
   • Module 5 quiz15 min

• AIntroduction to Taxation, Tax Administration and Ethics
• BTransactions Taxes
• CPersonal Income Tax
• DCompanies Income Tax
• EApplication of Information Technology in Taxation

Questions