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BU3721 Taxation 2

(5 ECTS credits)

Lecturer(s):

Mr. Joe O'Mara, KPMG

Module Content/Outline:

The aim of this module is to provide students with a detailed knowledge of Capital Gains Tax and the taxation of businesses including Corporation Tax and the taxation of partnerships.  A detailed understanding of technical taxation issues impacting individuals and businesses will be gained. Tax advantages and disadvantages for businesses pursuing different courses of action are examined, including Capital Gains Tax and Corporation Tax implications.  Taxation issues impacting corporate entities explored include corporate residency rules, calculation of corporation tax liabilities (including the use of loss relief) and the tax implications for groups of companies.  In addition to the range of tax technical issues, the module aims to provide students with an understanding of the ethical and professional issues arising from the provision of tax advice.  This includes issues such as tax avoidance, Revenue audits, appeals and disputes.

Learning Outcomes:

On successful completion of this module, students should be able to:

  • Compute and explain issues pertaining to taxes on capital gains, including advanced issues such as the taxation of development land and share transactions.
  • Understand the Capital Gains Tax reliefs available including the conditions required to avail of such reliefs and events that may trigger a clawback of the reliefs.
  • Understand the detailed operation of the capital allowances regime in Ireland, the expenditure which qualifies for tax relief and how the relief is calculated.
  • Understand the taxation of partnerships.
  • Understand the basic principles of corporation tax, including the tax residency rules for companies.
  • Prepare corporation tax computations for companies with a range of income sources.
  • Calculate the reliefs available to companies and groups of companies for losses.
  • Understand the international aspects of certain Irish tax policies and make comparisons between Irish tax law and international equivalents.
  • Understand the ethical and professional issues facing tax practitioners, including the distinction between tax evasion and tax avoidance.
  • Understand the system of Revenue audits, appeals and disputes.

Module Prerequisite

BU3720 Taxation 1.

Recommended Texts/ Key Reading:

To be confirmed.

Teaching & Learning Format:

One term module comprised of 2 Lectures per week

Assessment and Examination:

  • Assignment – 20%
  • End of Semester Exam x 2 Hours - 80%