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Module Specifications

Archived Version 2003 - 2004

Module Title Taxation
Module Code AC305
School DCUBS

Online Module Resources

Module Co-ordinatorMs Pauline WillisOffice NumberQ210
Level 3 Credit Rating 10
Pre-requisite AC120
Co-requisite None
Module Aims
This module will introduce students to the personal income tax system operating in Ireland and will develop their ability to prepare an individual's income tax computation. It will introduce students to the tax regime which is applicable to the business sector and provide students with an appreciation of the impact of taxation on business and business decisions. It will also introduce the principles and scope of indirect taxation.

Learning Outcomes
On completion of the module students should have a thorough understanding and knowledge of income tax. They should be able to apply their knowledge to calculate the income tax liability of employees and the self-employed. They will appreciate the impact of tax on the operations of business and on business decisions and the roleof incentives in the Irish tax system. They should have an understanding of indirect taxation and its impact on individuals and business.

Indicative Time Allowances
Lectures 48
Tutorials 18
Laboratories 0
Seminars 0
Independent Learning Time 84

Total 150
Assume that a 10 credit module load represents approximately 150 hours' work, which includes all teaching, in-course assignments, laboratory work or other specialised training and an estimated private learning time associated with the module.

Indicative Syllabus
Theory of Taxation: Historical development 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. Philosophies of Tax: Effects of tax on work effort, saving, capital formation; enterprise and risk taking; Evaluation of tax systems. Residence and domicile: Residence, domicile, 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, rented residential accommodation, reliefs and losses. 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. Schedule F: Computation of assessable income; dividend withholding tax. Pay Related Social Insurance: Scope and calculation of PRSI and levies for class A1 employees, employers and self employed. Schedule D Case I and II: Definition of a trade; computations of assessable income; rules applicable to commencement, cessation and change of accounting date; relief for losses; taxation of farmers. Capital Allowances: Definition of plant and machinery, industrial buildings; allowances available; urban renewal reliefs. Professional Services Retention Tax Administration: General structure of the taxation system; self assessment system; collection procedure, preparation and submission of returns, appeals procedures; revenue powers; penalties. Computations of Income of Individuals and Tax Payable: Tax credits and reliefs, charges and deductions; taxation of married couples, taxation of separated spouses. Capital Gains Tax: Principles and scope; computations of gains. Corporation Tax: Scope; computations of amounts assessable. Indirect Tax: Principles, scope and effect on individuals and business; operation of VAT, records, registration, returns and payments.
Continuous Assessment0% Examination Weight100%
Indicative Reading List
McAteer, W., Reddin, G., and Deegan, G., Income Tax. Institute of Taxation in Ireland (published annually). Jones, S., Nobes, C. Economics of Taxation Prentice Hall (Published annually). Judge, N., Income Tax. Butterworths (published annually).
Programme or List of Programmes
AFBA in Accounting & Finance