This course involves a study of the basic principles of income and business taxation for non-accountancy students. The objective is to develop a working knowledge of the basic principles and rules of the income and business tax system as these apply to individuals, partnerships and corporations. It covers an overview of the national tax system, and the income taxation of employees and unincorporated and incorporated businesses. It provides the students with the basic and conceptual knowledge of income taxation and the implications of a sound tax system. It also provides them with the appreciation of the principles pertaining to business taxation, particularly value-added tax and percentage tax.