The aims of this module is to provide the students with: An understanding of taxation for business and personal transactions; An ability to apply the basic principles and concepts of taxation to prepare taxation computations for Income Tax, Corporation Tax and VAT.
Income Tax
Residence, ordinary residence and domicileSchedules D, Case 1 & 2 – Income tax on trades and professionsSchedule D, Case 3 & 4 – Interest incomeSchedule D, Case 5 – Rental IncomeSchedule F – Dividends of Irish companiesSchedule E – Employment incomeAdministration of income tax – Self assessment, Pay and file system, Interest and penalties, assessments and compliance cycles
Corporation Tax
Principles and scope of charge to Corporation Tax for Irish resident companiesCorporation tax ratesMeaning of company for corporation tax purposesCalculation of income, chargeable gains and losses and tax payableAdministration of corporation tax
Value Added Tax
General principles on operation of VAT for Irish resident businessesMeaning of supply with regards to goods and servicesPlace of supply of goods and servicesVAT rates and exemption from VATAmount chargeable to VATDeductible VATEU DirectivesVAT procedures to include completion of VAT returns
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |