Module Code - Title:
TX4305
-
TAXATION THEORY AND PRACTICE
Year Last Offered:
2023/4
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module is designed to provide students with an understanding of the theoretical and legal framework of taxation. It aims to give students a thorough understanding of the manner in which individuals and unincorporated businesses are taxed in the State. The module reviews the taxation implications of business decisions and introduces the basics of tax planning.
Syllabus:
Introduction to the theory of taxation and basic tax policy; overview of Irish income tax system; the self-assessment system; personal tax computations; Schedule E employment income, benefits in kind and termination payments; interest income, rental income, foreign income, dividend income; the taxation treatment of married couples; the measurement of taxable business profits, allowable and disallowable expenditures, commencement and cessation of trading; capital allowances, balancing allowances and charges; the effects of residence and domicile of individuals on tax liability; basics of tax planning; the annual budget
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students should be able:
• To understand and apply basic tax theory in order to evaluate existing and proposed tax provisions and to articulate how tax fits into the broader economic context in a sustainable manner;
• To articulate how the Irish income tax system is administered and how Irish income tax residence rules are applied;
• To calculate Irish income tax liabilities for a range of taxpayers with income from a variety of sources;
• To consider and critically assess the impact of the annual budget including creating forecasts in relation to impending policy initiatives;
• To create tax solutions to address contemporary economic problems in collaborative ways.
Affective (Attitudes and Values)
On successful completion of this module, students should be able:
• To appreciate how the tax system serves as a fiscal tool in the hands of government to influence the behaviour of individual taxpayers and observe the impact of tax policy on the economy and society as a whole
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The module will be delivered by way of 2 weekly lectures, one weekly tutorial (from week 3), independent study and collaborative group work. Students' knowledge of tax, both as a technical discipline of itself and within the context of the broader economy, will be developed over the course of the module and articulated by students in continuous assessments and in the final exam. Creativity and proactivity will be enhanced through developing innovative tax solutions to contemporary economic problems and articulating these in writing. Collaboration will be enhanced through assessed group work. Independent research on the annual budget will be carried out by students and the lecturer's research work on ethics in tax will contribute to the 'responsible' graduate attribute by emphasising professional ethics and the development of sustainable tax policy throughout the module.
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
Gallery, K. (2014)
Irish Taxation Law and Practice
, Irish Taxation Institute
Other Relevant Texts:
Programme(s) in which this Module is Offered:
BBBUSTUFA - BUSINESS STUDIES
BBBSFRUFA - FRENCH
BBBSGEUFA - GERMAN
BBBSJAUFA - JAPANESE
BALAACUFA - LAW AND ACCOUNTING
Semester - Year to be First Offered:
Autumn
Module Leader:
Elaine.Doyle@ul.ie