This module introduces participants to the legal and taxation environment in which business operates. The intention is not to impart technical taxation skills but to enhance the judgement participants will bring to the challenges of business creation and development.
This unit will focus of on real business practice rather than the academic practice of taxation.
As is commiserate with a Masters level consideration of these topics, students will develop a critical insight into the taxation as an instrument of economic stimulus.
The aim of this module is to expose participants to a framework of taxation concepts necessary for developing an enterprise in the most robust and efficient mode. Participants will be encouraged to engage with the theory and constructs in a critical manner to enhance the judgment they will bring to their responsibilities as entrepreneurs and to develop appropriate analytical skills to provide a strategic perspective on the taxation aspects to business creation and development.
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 self-assessment.
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, self-assessment 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 | 40 |
| Other Assessment(s) | 60 |