Overview

The course will cover the following :

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

Tax as a policy tool

The calculation of personal, corporate, capital gains and value added tax liabilities.

Basic 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: Lower 2nd Class: 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.

Very good: Upper 2nd Class: B- to B+ (60-69%): 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: First Class: A- to A* (70% +): An outstanding performance, exceptionally able. 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.

Learning Outcomes

• Analyse the impact of relevant tax on various situations and courses of action to create strategies that minimise tax liabilities.

• Apply knowledge and understanding of computations related to income tax, corporation tax, capital gains tax, inheritance tax, and value-added tax liabilities to evaluate their implications for individuals and organisations.

• Assess tax reliefs available to individuals and corporate bodies and the effectiveness in reducing tax liabilities.

• Evaluate the operation and scope of the tax system, the obligations of taxpayers and/or their agents, the implications of non-compliance, and the effectiveness of tax regulations in meeting their intended objectives.