Overview

The place of taxation in the economy; the balance between equity and efficiency; income tax and incentives to work and save; the role of capital taxation; the bases of taxation and investment incentives; reform of the tax system; and tax as a policy tool. It will also include the calculation of personal, corporate, capital gains, inheritance and value added tax liabilities with some tax planning.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. -excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Calculate personal income, corporate, capital gains, inheritance and value added tax liabilities.

• Calculate tax reliefs available to individuals and corporate bodies.

• Critically evaluate the role of taxation in achieving desired policy outcomes.

• Demonstrate an understanding of the rationale for the various tax systems used in modern economies.