Module: Taxation

Module Specifications.

Current Academic Year 2024 - 2025

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Date posted: September 2024

Module Title	Taxation
Module Code	AC305 (ITS) / ACC1011 (Banner)
Faculty	DCU Business School	School	DCU Business School
Module Co-ordinator	Patrick Mulcahy
Module Teachers	Thomas McCluskey
NFQ level	8	Credit Rating	10
Pre-requisite	Not Available
Co-requisite	Not Available
Compatibles	Not Available
Incompatibles	Not Available

Repeat examination

Description

This module develops students' understanding of the theory, legislation and practice governing the taxation of individuals' and unincorporated businesses'income and the charge to value added tax. It develops students'analytical skills by applying their knowledge and understanding to solving practical problems. It helps to prepare students to advise individuals on their exposure to and obligations regarding taxation on personal and business income. The main mode of delivery is lectures and seminars with students required to prepare material in advance of attendance at seminars.

Learning Outcomes

1. Evaluate the theoretical framework of taxation
2. Assess the role of taxation in the Irish economy
3. Interpret decisions of the Irish, UK and European courts on income and value added tax matters
4. Identify sources of taxable income and distinguish between capital and revenue receipts and payments
5. Calculate the taxable income of individuals in receipt of cash and non-cash employment income, trading and professional income, rental and investment income
6. Determine the credits and reliefs available to individuals depending on their personal circumstances
7. Recognise the impact of taxation on the operations of unincorporated buinesses, business decisions and the role of taxation incentives
8. Identify transactions and entities liable to VAT and calculate the resulting liability
9. Advise taxpayers on the administrative aspects of Income Tax, Value Added Tax and Local Property Tax

*Type*	*Hours*	*Description*
Workload	Full-time hours per semester
Lecture	48	Attendence
Lecture	79	weekly review of material
Seminars	20	Attendence
Seminars	40	preparation of assigned problems
Assignment Completion	25	Fantasy Budget
Independent Study	35	Exam preparation and revision
Directed learning	3	Terminal exam
Total Workload: 250

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities

Theory and Philosophies of Taxation
Objectives of taxation; the distinction between revenue and capital taxation, direct and indirect taxes; the impact of case law on the taxation system; evasion and avoidance; economic and behavioural effects of tax; effects of tax on work effort and saving; Evaluation of tax structures.

Administration
General structure of the Irish taxation system; self assessment; preparation and submission of returns; payment dates, ROS, appeals procedures; revenue audits; penalties

Residence and domicile
Residence, domicle, ordinary residence; their relevance to income tax; double taxation relief; introduction to the general provisions of the Irish/UK double taxation agreement.

Schedule D Cases III, IV and V
Determination of amounts assessable; taxation of savings; DIRT, taxation of rental income including premiums and losses.

Schedule F
Computation of assessable income; dividend withholding tax.

Schedule E
Meaning of office or employment; computation of assessable income and reliefs; benefits in kind; termination payments; scope and operation of the PAYE system.

Pay Related Social Insurance and Universal Social Charge
Scope and calculation USC and PRSI for class A1 employees, employers and self employed.

Schedule D Case I and II
Definition of a trade; computations of tax adjusted profits: basis of assessment, commencement, cessation and change of accounting date rules; relief for losses; taxation of partnerships.

Capital Allowances
Definitiion of plant and machinery, industrial buildings; allowances available.

Computations of Income of Individuals and Tax Payable
Tax credits, personal allowances and reliefs, charges and deductions; taxation of married couples and civil partners.

Value Added Tax
General principles and administration, registration; records; payment; deductible and non-deductible VAT; cash receipts basis; group registration; Intra community supplies; imports and exports.

Property Tax
Scope, exemptions, basis of assessment, valuation bands

Assessment Breakdown
Continuous Assessment	30%	Examination Weight	70%

Type	Description	% of total	Assessment Date
Course Work Breakdown
Group assignment	Fantasy Budget	10%	Week 5

Reassessment Requirement Type
Resit arrangements are explained by the following categories: Resit category 1: A resit is available for both* components of the module. Resit category 2: No resit is available for a 100% continuous assessment module. Resit category 3: No resit is available for the continuous assessment component where there is a continuous assessment and examination element.
* ‘Both’ is used in the context of the module having a Continuous Assessment/Examination split; where the module is 100% continuous assessment, there will also be a resit of the assessment
This module is category 1

Indicative Reading List

Mulcahy, P (ed): 2018, Irish Taxation Law and Practice, published annually, 1-5, 7-23, Irish Tax Institute, Dublin,
Gara, M (ed) Cantillon,L, Nestor, P.: 2017, Practical Income Tax - The Professional's Guide, Irish Tax Institute,
Cooney, T. (Ed), Martyn, J. Reck, P.: 2018, Taxation Summary Finance Act 2015, Irish Tax Insitute, Dublin,
O'Brien, C & Tobin, G. (eds): 2016, Irish Tax Policy in Perspective, 1st, Irish Tax Institute, Dublin,
O' Halloran, M: 2005, From Boraimhe to Bit – The Art of Taxation, 1st, Irish Taxation Institute,
James, S & Nobes, C: 2008, Economics of Tax, 8th, 1-5, Fiscal Publications,
Bristow, J: 2004, Taxation in Ireland An Economist's Perspective, 1st, 1-6, Institute of Public Administration, Dublin,
2018: Direct Tax Acts Finance Act 2017, Irish Tax Institute,

Other Resources

30418, data base, Irish Taxation Institute, 0, Tax Find, Dublin, Irish Taxation Institute, 30419, Website, Irish Revenue Commissioners, 0, Revenue Irish Tax and Customs, www.revenue.ie,