Reference no: EM132945659

Summarize your relevant learnings in the topics covered by this Module and relate it to your personal experiences as a successful business professional in the future and how these topics can be applied in the different actual business transactions.

The Topics are:

1. Define Consumption Tax and discuss the rationale of the imposition of Consumption Tax

2. Differentiate Consumption Tax from Income Tax and identify the different

Consumption Taxes and Consumption exempt from Taxes

3. Differentiate VAT on Importation and Business Tax

4. Identify the Structure of the Business Tax and the Procedures of business taxation

5. Define the concept of business in relation to the imposition of business taxes

6. Identify the different business taxpayers and the tax base

7. Identify the business accounting period and the Modes of business tax reporting

8. Identify the rules in VAT Registration

9. Identify the different exempt sale of goods and services

10. Identify the different types of percentage taxes.

11. Identify the Scope of VAT on Sales and the VAT Threshold

12. Explain and apply Output VAT and Input VAT

13. Explain and Compute VAT Payable

14. Discuss VAT Compliance Requirements