The rationale behind every module is to offer the student all possible knowledge in each module of the course, in order to be able to deepen their understanding and render them capable of practically applying it. Taxation introduces the students to the local taxation system and its principles, with examples of how these are applied in practice. The role of taxation in the activities of individuals and businesses is pivotal and the income tax liabilities of individuals and companies, which are computed during the course of the module, are a must-know.

After completion of the course students are expected to be able to:
1. Explain the operation and scope of the Local tax system.
2. Explain and compute the income tax liabilities of individuals
3. Explain and compute the corporation tax liabilities of individual and groups of companies
4. Explain and compute the special contribution for the defence (SCD) liabilities of individuals and companies
5. Explain and compute the capital gains tax liabilities of Individuals and companies
6. Explain and compute the effects of value added tax on incorporated and unincorporated businesses