This is an introductory course in the fundamentals of taxation. It presumes no prior knowledge of tax. The student is introduced to the key concepts underlying the tax system. The aim of this module is to familiarise students with the Irish tax system and to develop their understanding of how tax liabilities are calculated.
Overview of the Irish Taxation System
Income Tax. Legislative framework, The scheduler system, Calculation of liability, reliefs and credits. Exempt income. Pro-forma income tax computation, Residence, ordinary residence, domicile, remittance basis of taxation. Taxation of investment income. Self-assessment and administrative obligations. Cases I and II, adjustment of profit, Case III, IV, Case V. Schedule E. Schedule F, Contract of and for service.
Corporation Tax. Scope and territoriality including company residence, Tax computation including tax rates, disallowed expenses, and differences from Income Tax, administration of CT and selfassessment.
VAT. General principles, charge to VAT, supplies of goods and services, place of supply, rates of VAT, exempt supplies, registration, calculation of VAT, input credits. Cross-border trade, selfassessment and administrative requirements, rights obligations and role of Revenue.
Learners will be exposed to formal lectures & problem solving. Technical & problem solving abilities will be developed by individual problem solving both inside & outside class contact time. Students will subsequently have an opportunity to discuss their solution in class with a view to identifying & resolving any issues arising.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |