Lesson 1 Nature and Definition of Taxation.pptx - ACCT405 TAXATION Lesson 1 \u2013Definition Nature and Scope of Taxation in Ghana College of Humanities

Lesson 1 Nature and Definition of Taxation.pptx - ACCT405...

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College of Humanities University of Ghana Business School ACCT405 TAXATION Lesson 1 –Definition, Nature and Scope of Taxation in Ghana
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Session Overview Lesson Objectives: By the end of this session you should be able to: Define taxation Explain the types or forms of taxes Explain the characteristics of a good tax system Explain the role of taxation in the national economy Explain why citizens refuse to pay taxes Prof. M. Amidu, Dr. I. Bedi & Mr. A. Ali-Nakyea
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Reading List Ali-Nakyea A. (2014), Taxation in Ghana-Principles, Practice & Planning, Black Mask Ltd., 3 rd Edition. Chapter 1, (page 1-26) Agalega, E. (2017) Ghana Taxation: Comprehensive Guide on New Tax Laws, 2 nd Edition, SMK Graphicx, Koforidua, Ghana. Chapter 1, (page 1-25) Abdallah, A, & Addo S., (2007). Public Sector Economics and Finance. Black Mask Limited. Chapter 6, 7 & 8 (page 125-193) Hillman, A. L. (2003). Public Finance and Public Policy: Responsibilities and Limitations of Government. Cambridge University Press. Chapter 7 (page 461-515) Prof. M. Amidu, Dr. I. Bedi & Mr. A. Ali-Nakyea
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DEFINING TAXATION Topic One Prof. M. Amidu, Dr. I. Bedi & Mr. A. Ali-Nakyea
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Defining Taxation Taxes are compulsory payments associated with income, consumption, or holding of property that individuals and corporations are required to make each year to government. That is, tax is a levy on: Income Goods and services Property It is levied and enforced by government or an authorised agent, and payments are made by Individuals and corporation Prof. M. Amidu, Dr. I. Bedi & Mr. A. Ali-Nakyea
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Defining Taxation It is levied and enforced by government or an authorised agent, and payments are made by individuals and corporation This means that no specific reward is gained by the tax payer.
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