Home » CITN Syllabus » The CITN Foundation Level Examination is a key certification for those wanting to start a career in taxation in Nigeria. Managed by the Chartered Institute of Taxation of Nigeria (CITN), this exam is the first step in the professional tax certification journey. The Foundation level helps candidates understand basic taxation principles and practices, setting the stage for advanced studies.
The Chartered Institute of Taxation of Nigeria (CITN) Foundation Level syllabus provides a strong base in tax principles, giving candidates the necessary knowledge and skills to excel in their exams and further their professional growth in taxation. The syllabus includes topics on four main courses: Principles of Taxation, Financial Accounting, Business Law, and Economics.
Completing the Foundation Level gives candidates a firm grasp of tax concepts and practices, readying them for the Professional Levels of the CITN exam. This CITN Foundation-level syllabus ensures aspiring tax professionals are well-prepared to pass the Foundation-level exams, handle the complexities of the Nigerian tax system, and progress in their taxation careers.
There are four courses at the CITN Foundation Level, and they include:
Are you an aspiring tax professional who wants to work in taxation, covering different types of taxes, how taxes are managed, and how to plan for taxes? Then, this course is perfect for you.
The Chartered Institute of Taxation of Nigeria (CITN) Principles of Taxation course teaches the basics of Nigeria’s tax system. This course helps you understand tax laws and practices in Nigeria.
To study for the CITN Principles of Taxation course, it is important to follow the CITN syllabus. The syllabus outlines all the key topics and goals, making sure you learn everything you need to know about income tax, value-added tax, customs duties, and international taxation.
By using the syllabus, you can cover all the necessary material, do the recommended readings, practice with real-life examples, and get ready for exams. This organized approach helps you do well in your studies and your future tax career.
At the end of this paper, candidates will be able to:
| Syllabus for CITN Foundation Level | ||
| Level | Foundation | |
| Course Name | Principles of Taxation | |
| 1. AN OVERVIEW OF TAXATION | ||
| S/N | Topic | Breakdown |
| 1 | The Concept of Taxation | i. Definition/Meaning of Tax and Taxation ii. The Difference between Tax and Other Charges iii. Justification for Taxation as the most Reliable Source of Revenue to Government |
| 2 | History of Taxation | i. Origin of Taxation ii. Taxation in Nigeria: Colonial Era iii. Taxation in Nigeria: Post-Independence Era to Date |
| 3 | Legislative Framework | i. Enabling Acts ii. Sources of the tax laws in Nigeria |
| 4 | Objectives of Taxation | i. Some of the purposes for which Government spends money |
| 5 | Types of Taxes | i. Direct Tax ii. Indirect Tax |
| 6 | Classification of Tax | i. By Tax Base ii. By Tax Incidence iii. By Method-Proportional, Progressive, and Regressive |
| 7 | Characteristics/Qualities of a Good Tax | i. Equity and Justice; Convenience; Certainty; Administrative Efficiency; Neutrality; Flexibility; Impartiality; Simplicity |
| 2. THE NIGERIAN TAX SYSTEM | ||
| 1 | The Relationship between Tax Policy, Tax Law and Tax Administration | i. The National Tax Policy |
| 2 | Nigerian Tax Administration: | i. The Joint Tax Board ii. Federal Inland Revenue Service iii. State Board of Internal Revenue iv. Local Government Revenue Committee |
| 3. OTHER FUNDAMENTAL CONCEPTS/PRINCIPLES | ||
| 1 | Other fundamental concepts. | i. Tax Appeal Tribunal ii. Tax Reforms iii. Tests of Trade iv. Definition of Employment v. Differences between Employment and Engagement on contract vi. Measurement of Income vii. Revenue Income/Expenses, Capital Income/Expense viii. Pioneer Status and other Tax incentives |
The Chartered Institute of Taxation of Nigeria (CITN) Financial Accounting course is designed to provide a comprehensive understanding of financial accounting principles and practices. This course covers essential topics such as sales and purchases, inventory, accounting standards, bookkeeping, and the analysis of financial information.
Studying for this course using the CITN revised syllabus will give you an in-depth understanding of the requisite principles, knowledge, and skills in taxation ensuring you pass the examination.
At the end of this paper, candidates will be able to:
iii. Ability to identify and correct omissions and errors in accounting records and financial statements;
| Syllabus for CITN Foundation Level | ||
| Level | Foundation | |
| Course Name | Financial Accounting | |
| S/N | Topic | Breakdown |
| 1 | INTRODUCTION TO BUSINESS AND ACCOUNTING | i. Types of business ii. Introduction to financial accounting by business entities iii. Bases of accounting iv. The need for financial statements v. The components of financial statements vi. Business transactions |
| 2 | THE IASB’S CONCEPTUAL FRAMEWORK | i. A conceptual framework for financial reporting ii. The IASB Conceptual Framework iii. Qualitative characteristics of useful financial information iv. The elements of financial statements v. Recognition in financial statements: IASB Conceptual Framework vi. Other accounting concepts vii. Fair presentation |
| 3 | ACCOUNTING EQUATION | i. The accounting equation ii. Preparing a simple statement of financial position iii. Statement of profit or loss |
| 4 | DOUBLE ENTRY BOOKKEEPING | i. Introduction to accounting systems ii. Basic rules of double-entry bookkeeping iii. Account balances and the trial balance iv. General journal v. General ledger |
| 5 | SALES AND PURCHASES | i. Introduction to books of prime entry ii. Accounting for sales iii. Accounting for purchases iv. Accounting for cash v. Petty cash |
| 6 | NON-CURRENT ASSETS AND DEPRECIATION | i. End of year adjustments ii. Non-current assets iii. Depreciation and carrying amount iv. Methods of charging depreciation v. Derecognition of property, plant and equipment vi. Disclosure requirements of IAS 16 |
| 7 | BAD AND DOUBTFUL DEBTS | i. Bad debts ii. Doubtful debts |
| 8 | ACCRUALS AND PREPAYMENTS | i. Accruals and prepayments introduced ii. Accruals iii. Prepayments iv. Unearned and accrued income |
| 9 | INVENTORY | i. End-of-year adjustments for inventory ii. Measurement of inventory |
| 10 | CONTROL ACCOUNTS AND CONTROL ACCOUNT RECONCILIATIONS | i. Receivables control accounts and receivables control account reconciliations ii. Payables control accounts and payables control account reconciliations iii. Supplier statements: reconciliation with ledger account |
| 11 | BANK RECONCILIATIONS | i. Bank reconciliations ii. Chapter review |
| 12 | CORRECTION OF ERRORS | i. Trial balance ii. Correcting errors iii. Suspense accounts |
| 13 | COMPANY FINANCIAL STATEMENTS | i. The components of financial statements ii. Structure and content of the statement of financial position iii. Structure and content of the statement of profit or loss iv. Accounting for taxation v. Accounting for share issues vi. Financial statements – specimen formats |
| 14 | PARTNERSHIP ACCOUNTS | i. Features of partnerships ii. Sharing the profits between the partners iii. Changes in partnerships iv. Amalgamation and dissolution of partnerships |
| 15 | NOT FOR PROFIT ACCOUNTS | i. Not-for-profit organizations ii. Receipt and payment accounts iii. Income and expenditure account |
| 16 | CONCEPT OF ACCOUNTS FROM INCOMPLETE RECORDS | i. The nature of incomplete records ii. Techniques for incomplete records |
| 17 | STATEMENTS OF CASH FLOW | i. Statement of cash flows: Introduction ii. Statement of cash flows: Format iii. Cash flows from operating activities: The indirect method iv. Indirect method: Adjustments for working capital v. Cash flows from operating activities: The direct method vi. Cash flows from investing activities vii. Cash flows from financing activities viii. Statement of cash flows – specimen formats |
The Chartered Institute of Taxation of Nigeria (CITN) Business Law course offers a deep dive into the legal principles that underpin business operations in Nigeria. Ideal for those pursuing careers in taxation, accounting, and business management, this course covers crucial areas like contract law, company law, commercial transactions, and the legalities of business formation and governance.
When preparing for the CITN Business Law course using the CITN syllabus, a structured approach is key. The syllabus provides a clear roadmap, highlighting essential topics such as the Nigerian legal system, regulatory compliance, dispute resolution, and the intersection of business law and taxation.
To get the most out of your studies, immerse yourself in the wide range of materials offered by CITN, including textbooks, case studies, and practical examples. These resources will help you grasp complex legal concepts and see how they apply in real-world business scenarios. Regularly testing yourself with practice questions and reviewing past exam papers can also boost your confidence and readiness for the final assessments.
The course, Business Law, seeks to;
Ii. Help candidates identify and apply the elements of contracts, applicable legal principles to different types of transactions, and how they may be impacted by taxes.
Iii. Introduce candidates to revenue laws in Nigeria, modalities for interpretation, and administration as well as an overview of the available dispute resolution mechanisms.
| Syllabus for CITN Foundation Level | ||
| Level | Foundation | |
| Course Name | Business Law | |
| S/N | Topic | Breakdown |
| 1 | INTRODUCTION TO NIGERIAN LEGAL SYSTEM & REVENUE LAW | i. Introduction to the concept of Law ii. Nature and Functions of Law iii. Nigerian legal system and administration of law iv. Sources of Nigerian law v. Relationship of the Legislature, Executive and Judiciary vi. Concept of dispute resolution Hierarchy of courts in Nigeria • Industrial Courts • Administrative Tribunals • Tax Appeal Tribunals • High court jurisdiction (Federal/State) – controversy on the exclusive jurisdiction of FHC • Alternative Disputes Resolution (Meditation & Arbitration • Role of the Centre for Dispute Resolution • Court of Appeal • Supreme Court vii. Overview of tax system, power to make laws (taxing laws) and constitution of taxing rights, quasi–laws, circulars, guidelines etc. viii. Introduction to tax statutes/Categorisation of taxes • Income Tax – Companies Income Tax Act – Personal Income Tax Act – Petroleum Profit Tax Act – Tertiary Education Tax Act ix. Capital Gains Tax Act x. Indirect tax/transaction taxes • Value Added Tax Act • Stamp Duties Act • Customs and Excise Management Act xi. Special Incentives • Industrial Development (Income Tax Relief) Act • Nigeria Export Processing Zones Act xii. Interpretation of tax laws xiii. Tax administration in Nigeria • Federal Inland Revenue Service • State Inland Revenue Service • Joint Tax Board • Local Government Revenue Committee |
| 2 | BASICS OF CONTRACT | i. Formation of contracts – Key Elements ii. Formalities iii. Capacity to contract iv. Contents of contracts v. Vitiating factors vi. Sales of Goods vii. Discharge of contract viii. Remedies for breach of contract (damages, specific performance) ix. Major types of contracts and effects |
| 3 | LAW OF CONTRACT | Classification of Torts ii. Categories of liabilities iii. Negligence iv. Occupiers’ liability v. Product liability vi. Vicarious Liability vii. Passing off |
| 4 | AGENCY | i. Agency – appointment, ii. Relationship between principal and agent – rights and duties iii. Implication of agency relationship iv. Termination |
| 5 | SALE OF GOODS/HIRE PURCHASE | i. What constitutes Sale ii. Conditional sale and Protecting the consumer iii. Passing of ownership and risk iv. Conditions, warranties and exclusion clauses v. Duties and Liabilities of Carriers vi. Stoppage in Transit vii. Remedies and Obligations of buyer and seller viii. Consumer Credit (Hire Purchase, Credit Sales and Leasing) • Characteristics of hire purchase • Rights and duties of parties under hire purchase • Concept of leasing • Types of leasing and characteristics • Concept of credit sales ix. Delivery of the goods and highlights of various INCOTERMS (e.g. Free on Board, duty delivery paid, cost insurance & freight etc) |
| 6 | COMPANY LAW | Nature and types of business vehicles i. Sole Proprietorship ii. Partnership/Business name • Doctrine of holding out • Formation & dissolution of Partnership & types of Partner • Relationship of Partner with one another & with outsiders i.e. Rights & Duties of Partners. • Liabilities of Partner iii. Incorporated Trust iv. Companies • Promotion and Formation of Companies. Nigerian v Foreign Investment • Capital – Shares and Debentures and other securities • Types of shares (increase or reduction in capital) • Distribution/return on investment • Directors and Secretaries • Corporate Insolvency and Cessation of Business • Corporate Restructuring, Mergers & Acquisition |
The CITN Economics course offers you a captivating exploration of the economic foundations that influence taxation and fiscal policies. Tailored for professionals like yourself looking to deepen their understanding of tax systems, this course delves into essential economic theories, fiscal strategies, and their direct impacts on taxation.
By closely following the CITN syllabus, you immerse yourself in topics ranging from microeconomics to public finance, gaining insights into how economic principles shape tax laws and practices. This structured approach not only helps you ace your certification exams but also equips you with practical skills to make meaningful contributions to fiscal policy decisions in our ever-evolving economic landscape.
The aim and objective of this course, Economics, is to examine the candidate’s knowledge and understanding of the basic economics of microeconomics and macroeconomics policies; and how they are applied in the real world.
| Syllabus for CITN Foundation Level | ||
| Level | Foundation | |
| Course Name | Economics | |
| PART1: MICROECONOMICS | ||
| S/N | Topic | Breakdown |
| 1 | NATURE AND MEANING OF ECONOMICS | i. Fundamental concepts – Meaning of economics, Scarcity, choice, scale of preference, and opportunity cost ii. Economic models and Economic methods iii. Microeconomics and macroeconomics iv. Economic system- Central problems of an economy v. Production possibility curve and Resources allocation vi. Types and resources allocation under different economic system (Free market economy, centrally controlled economy, mixed economy) |
| 2 | PRICE SYSTEM | i. Functions of price and price mechanism ii. Theory of Demand-Meaning, laws, types, determinants, exceptions, change and shift in demand iii. Theory of Supply-Meaning, laws, types, determinants, exceptions, change and shift in supply iv. Equilibrium and disequilibrium in demand and supply v. Elasticity of demand and supply, types (price, income and cross elasticity) and their calculations vi. Elasticity of demand and supply and tax incidence vii. Factors affecting elasticity of demand and supply viii. Government Intervention through price control and its effects. |
| 3 | CONSUMER BEHAVIOUR | i. The basis of consumer demand–Utility ii. Cardinal utility theory and ordinal utility and their assumptions, utility maximization iii. Indifference curves theory iv. Characteristics of Indifference curve v. Total and marginal utility concepts vi. The law of diminishing marginal utility vii. Consumer surplus |
| 4 | PRODUCTION AND COSTS | i. Factors of production and their rewards ii. Production functions iii. The law of diminishing returns-Total product (TP). Average product (AP) and Marginal product (MP) iv. Isoquant and Isocost curves v. Pricing of factors of production vi. Theory of cost – Opportunity cost, sunk costs, explicit and implicit costs, short run and long run concept vii. Total cost, fixed cost, variable cost, average cost and marginal cost viii. Concept of revenue- Total, average and marginal revenue ix. Cost minimization and profit maximization. |
| 5 | THEORY OF FIRMS AND LOCATION OF INDUSTRY | i. Concepts of firm, industry and market ii. The goals of the firms iii. Market structure: Characteristics, pricing and output decision under the following markets- Perfect competition, monopoly, monopolistic and oligopoly iv. Profit maximization and cost maximization v. Price discrimination under monopoly vi. Location of industry – Reasons, advantages and problems of industrialization in Nigeria vii. Localization of industry – Industrial concentration- advantages and disadvantages viii. Industrial promotion policy in Nigeria ix. Privatization, commercialization, mergers, e-Commerce and firms’ acquisition policy in Nigeria. |
| PART 2: MACROECONOMICS | ||
| 1 | NATIONAL INCOME ANALYSIS | i. Meaning of Macroeconomics ii. Definition of national income iii. The circular flow of Income iv. Basic concepts of national income- Flow variable, Stock variable, Model, Variables, Gross Domestic Product (GDP), Gross National Product (GNP), Net National Product (NNP), Personal income, Disposable income, Per capita income etc v. Methods of measuring national income: Expenditure Approach, Income Approach, and Output Approach vi. Difficulties in measuring national income vii. Factors influencing the national income viii. Uses of national income accounting ix. Limitations of National Income in International and Intertemporal Comparison x. Reasons for differences in the National Income of different countries xi. Aggregate Demand/Supply: Consumption, Investment, Government expenditure, Export and Import, Aggregate supply, Saving, Marginal Propensity to consume and to save etc. xii. The accelerator principle. xiii. Consumption and savings functions, marginal and average propensities to consume(MPS), determinants and multiplier analysis xiv. National income equilibrium: The Injection-Withdrawal approach and the aggregate output – aggregate demand approach xv. Multiplier Concept |
| 2 | MONEY, BANKING AND OTHER FINANCIAL INSTITUTIONS | i. Definition, types, feature and its functions ii. Demand and supply of money iii. Motives, determinants for demand and supply of money iv. Central Bank, Money Deposit Banks, Microfinance Banks their roles and functions v. Other financial institutions – Insurance, Credit Bureau, Bureau-de-change etc. vi. The Capital market – Nigerian Stock Exchange (NSE) and Security and Exchange Commission(SEC) vii. Roles of money and capital market in economic development. |
| 3 | PUBLIC FINANCE | i. Concept of public finance ii. Government revenue and Pattern of government expenditure. iii. Theory of taxation – Categories and classification of taxation, objectives and functions iv. National Budgets – types and its roles, sources of financing deficit budget v. Economics of the public debts vi. Fiscal and monetary policies: Meaning, objectives, instruments and limitations. |
| 4 | INFLATION AND UNEMPLOYMENT | i. Inflation-Definition, Types, Causes, Effects and control ii. Unemployment-Definition, Types, Causes, Consequences and Remedies |
| 5 | GROWTH AND DEVELOPMENT | i. Distinction between growth and development ii. Theories of economic growth and development iii. Characteristics of developed and developing nations iv. Problems of economic development in the third world countries v. Roles of government in economic growth and developmental processes in Nigeria vi. Development planning: Meaning, Objectives, Argument for and problem of development planning |
| 6 | INTERNATIONAL TRADE AND FINANCE | i. International Trade-Definition and reasons for it, internal and international distinction ii. Advantages/disadvantages of international trade iii. Theory of comparative cost advantage iv. Terms of trade, balance of trade and payments v. Free trade and trade restrictions- Argument for and against vi. Balance of payment equilibrium and disequilibrium, causes and corrections vii. Foreign exchange market and its functions viii. Currency devaluation, depreciation and appreciation and their implications. |
| 7 | REGIONAL AND INTERNATIONAL ECONOMIC INTEGRATION | Roles/functions and contributions of: • Economic Community of West African States(ECOWAS) • African Union(AU) • East African Community(EAC) • South African Development Community(SADC) • African Development Bank(ADB) • World Trade Organization(WTO) • Organization of Petroleum Exporting Countries(OPEC) |
| Exemptions from the CITN Professional Examinations | ||
| S/N | QUALIFICATION | EXEMPTION (NEW) |
| 1 | TTS Graduates, (ATT)/ATS/ATSWA, OND (Accounting &Taxation) | All Foundation Papers |
| 2 | ICAN(ACA) | All Foundation Papers, All PT I papers & PT II papers except Income Tax for Specialized Businesses |
| 3 | ANAN(CNA) | All Foundation Papers, All PT I papers & PT II papers except Income Tax for Specialized Businesses |
| 4 | BL | All Foundation Papers, All PT I papers & PT II papers except Financial/Tax Analysis and Income Tax for Specialized Businesses |
| 5 | ACCA | All subjects at all levels except Business Laws, Income Tax for Specialized Businesses |
| 6 | CIOT | All subjects at all levels except Business Laws, Income Tax for Specialized Businesses |
| 7 | CITN TAX ACADEMY (CTA) | Subject by subject exemption |
| 8 | CIMA | All subjects at all levels except Business Laws, Income Tax for Specialized Businesses |
| 9 | ACIB | All Foundation Papers, Financial Reporting and Governance, Risk & Ethics in PT I |
| 10 | ACS/ACIS/ICSAN | All Foundation Papers, Financial Reporting, and Financial/Tax Analysis in PT II |
| 11 | MNIM | All Foundation Papers, Governance, Risk & Ethics, and Financial Reporting in PT I |
| 12 | LLB | All Foundation Papers, All PT 1 Papers |
| 13 | HND/Degree Taxation | All Foundation Papers, All Papers in PT 1 and International Tax, and Tax Audit & Investigation in PT II |
| 14 | HND/Degree (Accounting) | All Foundation Papers, All PT 1 Papers |
| 15 | HND/Degree Banking/Finance/Insurance | All Foundation Papers, All PT 1 Papers |
| 16 | Degree in Economics | All Foundation Papers, All PT 1 Papers |
| 17 | HND/Degree Bus. Admin/Public Admin/Bus. Management | All Foundation Papers, except Principles of Taxation, and Financial Reporting & Governance, Risk Ethics in PT 1 Paper |
| 18 | HND/Degree Maths/Statistics | Economics in Foundation and Financial Reporting in PT I |
| 19 | Other Degrees not stated here | Subject-by-subject exemption upon presentation of transcript |
| 20 | Masters in Management Sciences with Taxation Option/Taxation course in Transcript | All papers in Foundation, all papers in PT I, International Taxation and Financial/Tax Analysis in PT II |
| 21 | Master’s Degree in Management Sciences | All papers in Foundation, all papers in PT I |
| 22 | All other Masters’ Degree | Subject-by-subject exemptions upon presentation of transcript |
| 23 | PhD in Management Sciences with Taxation Option/Taxation course in Transcript | All papers in the foundation, all papers in PT I, and all papers in PT II except Income Tax for Specialized Businesses |
| 24 | PhD Degree in Management Sciences | All papers in the foundation, all papers in PT I, and all papers in PT II except TaxAudit & Investigation and Income Tax for Specialized Businesses |
| 25 | All other Doctoral Degrees in Management Sciences | All papers in the foundation, all papers in PT I, except Tax Audit & Investigation and Income Tax for Specialized Businesses |
| 26 | All other Doctoral Degrees | Subject-by-subject exemptions upon presentation of transcript |
| 27 | FIRS/JTB Fundamental Level | Principle of Taxation in Foundation |
| 28 | FIRS/JTB Preliminary Level | All Papers in Foundation, all papers in PT I, and International taxation in PT II |
| 29 | FIRS/JTB Final Level | All papers in the foundation, all papers in PT I, and all papers in PT II except Financial/Tax Analysis |
| 30 | All other Professional Certificates | Subject-by-subject exemptions upon presentation of certificate |
