Basic and Advanced Income Tax Training at PwC Namibia Business School

What is Basic and Advanced Income Tax Training?

Income Tax Certification course will provide you an in-depth knowledge of the basic concepts Income-Tax Act 1961. After completion of the course, you will have clarity of the different provisions of the Income Tax Act.

Overview

A B.Com degree is mandatory to take admission in the two-year M.Com course. Students who do LLB or LLM can also specialise in Taxation Laws and join the field. Bachelor of Management Studies (BMS) or an MBA degree with specialization in Finance may also give you an edge in the field.

Frequently Asked Questions

Is tax a good career?

Taxation is an excellent career for the academically-minded. It requires a high level of attention to detail, good English and maths skills and the ability to communicate. Although many people assume that it is a ‘maths job’, actually the vast majority of work is law based.

Is taxation hard to study?

One of the reasons why taxation is challenging to study is having comprehensive and complicated problems and solutions. Don’t solve multiple-choice problems but be patient in solving extensive issues. Solving extensive matters will help you to apply what you have learned.

Is working in tax a good career?

The varied nature of working as a tax consultant or tax accountant makes for an intellectually rewarding career. Working with individuals and businesses, you’ll be responsible for analysing, reporting and providing advice on various taxation issues.

What is a tax preparer called?

If you decide to use a tax professional, you will generally find two main categories of tax service providers: the licensed tax professional—a Certified Public Accountant (CPA), or the unlicensed tax professional—a tax preparer.

How do I become a tax expert?

Tax professionals who work as CPAs or Enrolled Agents (EA) must earn specific credentials. CPAs need a license from their state boards of accountancy, which requires passing the CPA exam. EAs must register with the IRS and pass a three-part special enrollment exam and a background check.

Can I do MBA in taxation?

If you are considering a career in taxation, you may be exploring your options for pursuing a Master of Business Administration (MBA) in Taxation. Advanced study in this area can lead to opportunities in both the private and public sectors.

Is BCOM taxation a good course?

B.Com in Taxation offers you many job roles: Chartered Accountant, financial risk manager, tax consultant, tax specialist, senior tax manager, tax compliance manager, cost estimators, lecturer, stockbrokers, financial analyst, actuaries, etc. There are good salary packages offered to employees after B.Com in Taxation.

Why is Income tax important?

Income taxes are a source of revenue for governments. They are used to fund public services, pay government obligations, and provide goods for citizens.

Do you need to be good at maths to do tax?

In tax there are a variety of strengths needed in the tax team, whilst yes maths is a part of the job having a calculator negates that necessity. Another part of tax I have found to be interesting is the legislation, as we often have to look at specific tax laws, which requires good literacy and comprehension skills.

Is being a tax accountant hard?

Becoming a tax accountant requires hard work in school, but the skills you build can benefit you in numerous ways beyond the accounting field. In fact, most successful tax accountants improve their skills over time, meaning their learning doesn’t stop after graduating from an undergraduate program.

Is tax a accounting?

Tax accounting is the subsector of accounting that deals with the preparations of tax returns and tax payments. Tax accounting is used by individuals, businesses, corporations and other entities. Tax accounting for an individual focuses on income, qualifying deductions, donations, and any investment gains or losses.

Why do you want a career in tax?

A career in tax has an enormous amount to offer individuals, including variety, intellectual stimulation and plenty of responsibility. If you enjoy working with people, the challenge of problem solving and an ever-changing, dynamic working environment then a career in tax is for you.

How do I become a chartered tax advisor?

After completing three computer-based and two written papers from the ATT, there is a choice for learners to either complete a third ATT or CTA Awareness paper. Learners also must complete two CTA Advanced Technical papers and Application and Professional Skills.

Who is a tax analyst?

A typical tax analyst engages in work that revolves around the preparation, review and filing of tax forms and returns. They may work with individual citizens filing single or joint returns, as well as business owners that file taxes on the part of their organization.

Should I go into audit or tax?

A: It’s going to come down to personal preference. You’re going to have to know yourself. If you’re outgoing, very personable and you like to travel, I highly recommend you do audit. If you’re quieter, shy and are more of a homebody, then go into tax.