Syllabus of PIPFA Level 3 Taxation

Get access to latest and updated syllabus of PIPFA Level 3 Taxation now. Here you will find detailed course content or Syllabus of PIPFA Taxation for upcoming attempt.

Unfortunately, PIPFA does not publish it’s own study text. But you need not to worry as you can use study texts of ICAP and/or ICMAP. You will have the advantage on other students. The reason being ICAP and ICMAP study texts are comparatively more difficult than the books recommended by PIPFA examination body.

syllabus of PIPFA Level 3 Taxation

Syllabus GRID:

Here is the grid for syllabus of PIPFA Level 3 Taxation.

GRIDWEIGHTAGE
System of taxation in Pakistan and constitutional provisions8 – 12
Income tax50 – 60
Sales tax25 – 30
Federal Excise5 – 10
Ethics5-10
Total100

Course Outline:

The course outline for syllabus of PIPFA Level 3 Taxation for upcoming attempt gives an overview of the course .The detailed Syllabus of PIPFA Level 3 Taxation for upcoming attempt is given below the course outline section.

System of Taxation in Pakistan and Constitutional Provisions:

  • Different kinds of taxes and their scope 
  • Provincial financial procedures (Article 78 to 88 of the Constitution)       
  • Provincial financial procedures (Article 118 to 127 of the Constitution)       
  • Distribution of revenue between Federation and the Provinces (Article 160 to 165A of the Constitution)     
  • Federal Legislative List relating to revenue generating measures (related part of Fourth Schedule to the Constitution of Pakistan

Income Tax:

  • Chapter I (Definitions as per Section 2 sub-section ,5,5A,6,7,9,10,11,12,11A,14,15,16,17,18,19,19A,19B, 20,21,22,23,23A,24,25,26,27,29,29A,29C,30,30A,30AA,32,33,36,37,38,40,41,42,43,44,44A,45,46,47,48,49,50,51,52,53,54,55,58,59,59A,61,61A,62,63,64,66,68,69,70,70A,73)
  • Chapter II – Charge of tax (Excluding section 7)
  • Chapter III – Tax on taxable income (Excluding sections 14, 23B, 29A, 30, 31, 42, 43 and 49)
  • Chapter IV – Common Rules
  • Chapter V – Provisions governing persons (Excluding sections 90, 95, 96, 97, 97A, 98, 98A, 98C)
  • Chapter VI – Special Industries (Section 100B and 100C)
  • Chapter VII – International (Excluding sections 106 and 107)
  • Chapter VIII – Anti-avoidance (Section 111)
  • Chapter IX – Minimum Tax
  • Chapter X – Procedure (Excluding sections 134A, 138, 138A, 141, 143, 144, 146, 146A, 146B, 156A, 156B, 165A, 170, 178, 179, 180, 181A, 181B, 181C, 182, 183, 194, 197, 198, 199, 200, 201, 202, 203, 203A, 204, 205A, 206, 206A)
  • Chapter XII – Transitional Advance Tax Provisions (Section 231A, 231AA, 233, 236A, 236C, 236I, 236K, 236M and 236N)
  • Income tax rules related to above mentioned provisions of the Income Tax Ordinance, 2001
  • First, Second and Third Schedules to the Income Tax Ordinance, 2001

Sales Tax Act 1990:

  • Chapter I – Preliminary (Definitions as per Section 2 sub-sections 3, 3A, 5AA, 5AB, 6A, 6B, 7, 8, 9, 11, 11A, 12, 14, 16, 17, 19, 20, 21, 22A, 23, 25, 27, 28, 29A, 31, 33, 33A, 35, 37, 39, 40, 41, 43, 44, 46, 47, 48)
  • Chapter II – Scope and payment of tax (Excluding section 7)
  • Chapter III – Registration
  • Chapter IV – Book keeping and invoicing requirements
  • Chapter V – Returns
  • Chapter VII – Offences and penalties (Sections 33 and 34)
  • Chapter VIII – Appeals (Sections 45B, 46 and 47)
  • Chapter X – Miscellaneous (Sections 58, 66, 67 and 73)
  • Sales Tax Rules, 2006 (Chapters I, II, III and IV)

Federal Excise Act 2005:

  • Chapter I – Preliminary (Definitions as per Section 2 sub-sections 7, 8, 8a, 8b, 8c, 8d, 9, 9a, 10, 11, 12a, 13, 15, 16, 16a, 18, 20, 21, 21a, 22, 23, 23a, 25 and 26)
  • Chapter II – Levy, collection and payment of duty

Ethics:

  • Ethics for tax legislation
  • Ethics for taxpayers and tax practitioners
  • Ethics for tax implementing authorities

Detailed Syllabus Contents:

The detailed Syllabus of PIPFA Level 3 Taxation for upcoming attempt is given below.

System of Taxation in Pakistan and Constitutional Provisions:

  • Comprehend the main objectives of taxation
  • Justify taxation as means of development.
  • Understand the implication of direct and indirect taxation.
  • Comprehend different kinds of taxes and their scope including the powers of provinces to legislate on taxes.
  • State the history of taxation in the sub-continent.    
  • Demonstrate familiarity with the Federal Consolidated Fund and Public Account
  • Demonstrate familiarity with the expenditure that can be charged upon Federal Consolidated Fund.    
  • Demonstrate familiarity with the Provincial Consolidated Fund and Public Account
  • Demonstrate familiarity with the expenditure that can be charged upon Provincial Consolidated Fund. 
  • Demonstrate familiarity with the formation of National Finance Commission and its main function
  • Demonstrate familiarity with the taxes that can be raised under the authority of Parliament
  • Demonstrate familiarity with the powers of provincial assemblies in respect of professional tax
  • Demonstrate familiarity with the exemption available to federal and provincial governments
  • Demonstrate familiarity with the tax on corporation owned by federal and provincial government.
  • Enlist the revenue collection as mentioned at S.No.43 to 53 in Fourth Schedule attached to the Constitution

Income Tax:

  • Describe the definitions given in section 2 sub-section 1, 5, 5A, 6, 7, 9,10, 11A, 15, 19, 19C, 20, 21, 22, 23,23A, 28A, 29, 29A, 29C, 33, 35C, 36, 37, 38, 44A, 46, 47, 49, 50, 51, 52, 53,59A, 66, 68, 75
  • Describe other definitions covered under relevant sections
  • Understand and apply definitions on simple scenarios.
  • Explain the chargeability of tax with simple examples.
  • Understand the concepts of income, total income & taxable income with heads of income
  • Understand and compute taxable income and tax thereon relating to salary, income from property, income from business, capital gain, dividend, profit on debt, ground rent, rent from sub-lease, income from provision of amenities, utilities or any other services connected with rented building and consideration for vacating the possession of building
  • Explain different exemption and tax concession for income including 2nd schedule exemptions
  • Comprehend and apply the concepts of set-off and carry forward of losses for different heads of income
  • Understand and compute deductible allowances and tax credits available to taxpayers.
  • Understand and apply on simple scenarios provisions for income of joint owner, apportionment of deductions, fair market value and receipt of income LO2.4.2: Explain using simple examples the provisions relating to tax year
  • Explain with simple examples the provisions relating to disposal and acquisition of assets, cost and consideration received.
  • Describe with simple examples the meaning of persons, resident and non-resident persons and associates.
  • Describe with simple examples the principles of taxation of individuals.
  • Describe with simple examples the principles of taxation of association of persons and computational aspects of AoP and its members.
  • Understand the applicability of tax on foreign salary income, credit against foreign tax and treatment of foreign loss of a resident in simple scenarios.
  • To understand the concept of anti-avoidance in relation with Income Tax Law
  • Understand the provisions relating to Minimum Tax
  • Calculate Minimum Tax according to the provisions.
  • Identify persons required to furnish a return of income
  • Identify persons not required to furnish a return of income
  • Identify persons required to furnish wealth statements
  • List the contents of wealth statement
  • Understand the procedure for extension in time for furnishing the returns and other documents.
  • Understand the meaning of assessment by Commissioner and power of Commissioner to conduct audit.
  • List the appellate bodies
  • Explain using simple examples the circumstances when appeal to the Commissioner (Appeals) is made and the pre-conditions applicable
  • Apply rules relevant to learning outcomes specified against each topic on well explained scenarios.
  • To understand conceptual problem-solving skills in context of income tax.
  • Apply clauses relevant to learning outcomes specified against each topic on well explained scenario.

Sales Tax Act 1990:

  • Describe the definitions given in section 2 sub-section 1, 3, 5AA, 5AB, 9, 11, 14, 16, 17, 19, 20, 21, 22A, 25, 27, 28, 29A, 33, 33A, 35, 39, 40, 41, 43, 44, 46, 46A, 47, 48
  • Describe other definitions covered under relevant sections LO3.1.3: Apply definitions on simple scenarios.
  • Understand the application of sales tax law on taxable supplies including zero rated and exempt supplies
  • State the determination, time and manner of sales tax liability and payment using simple examples
  • Understand how excess input tax will be carried forward and refunded.
  • State the requirement and procedure of registration and de- registration.
  • List the record to be kept by a registered person
  • State the requirements of tax invoice LO3.4.3: Explain the retention period of record using simple examples.
  • Understand the various types of returns required to be filed by registered and un-registered persons.
  • Concept of offences & penalties
  • Way & methods of appeals
  • Explain the concept other issues related to sales tax
  • Explain the requirement and procedure of registration, compulsory registration and deregistration using simple examples.
  • Explain the requirement and procedure of filing of return using simple examples.
  • Explain the requirement and procedure of issuing debit and credit notes using simple examples
  • State the procedure for destruction of goods.
  • Explain the requirement and procedure of apportionment of input tax using simple examples.

Federal Excise Act 2005

  • Enlist the revenue collection as mentioned at S. No. 43 to 53 in Fourth Schedule attached to the Constitution

Ethics:

  • Apply critical thinking and problem-solving skills related to taxation of individuals, flow through entities, and corporations.
  • Recognize potential opportunities for tax savings and tax planning in relation with Tax
  • Demonstrate knowledge of the components of the basic income tax formula for individuals and business entities, understand when income and deductions are recognized, and describe when they are excluded (or disallowed) or deferred.
  • Apply analytical reasoning tools to assess how taxes affect economic decisions for individuals and business entities.
  • Understand tax-related statutory, regulatory, and professional ethics obligations and identify tax-based community service opportunities.

Focus

syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation syllabus of PIPFA Level 3 Taxation

Leave a Reply

Your email address will not be published. Required fields are marked *