• ACCT3002
  • Taxation

  • Credits (ECTS): 10
  • Accounting and Finance

Modules are delivered
as part of a programme.
To apply for the
programme,
see the DIT website

Module Description

This module is concerned with the operation of both direct and indirect taxes in Ireland and in particular with the preparation of tax computations and the calculation of liabilities for individuals and companies.

Indicative Syllabus

Income tax
1. The schedular system, the scope of income tax, exempt and relieved sources of income
2. Calculation of liability, application of reliefs and tax credits available to individuals and married couples
3. Residence, ordinary residence and domicile rules, the remittance basis of taxation and assessment under Case III
4. Administrative arrangements and the self- assessment system
5. Taxation of business profits – badges of trade, basis of assessment under Cases I and II, adjusted profit calculations, capital allowances, partnerships and loss relief, best time to cease trading / incorporate
6. Taxation of investment income – interest and dividends, DIRT and special investment products
7. Taxation of property income – allowable expenses and capital allowances, loss relief
8. Taxation of employment income – the PAYE system, pensions, benefits in kind, termination payments, allowable expenses
9. Distinction between contracts of and contracts for services
10. Miscellaneous income tax provisions
11. Case law and statutory provisions relating to the above areas are addressed where relevant
VAT
1. Scope of VAT, rates which apply, exempt activities, administration
2. Circumstances in which registration is required, voluntary registration
3. Calculation of VAT liability, non-deductible inputs, partial exemption
4. Treatment of intra-community supplies and acquisitions and exports and imports
5. VAT groups
Capital gains tax
1. Scope of capital gains tax (CGT) and administration / self-assessment provisions
2. Exemptions and reliefs, use of capital losses
3. Calculation of basic liabilities including CGT on disposals of development land
4. Case law and statutory provisions relating to the above areas are addressed where relevant
CT
1. Basis of assessment, territorial scope and administration
2. Choice of business medium – tax advantages and disadvantages of incorporation
3. Case I calculations – revision of sole-trader provisions for adjustment of profits and calculation of capital allowances and identification of differences in calculations for a company
4. Calculation of liability – application of 12.5% rate and 25% rate
5. Corporation tax on chargeable gains
6. Charges, losses and loss relief
7. Case law and statutory provisions relating to the above areas are addressed where relevant.

Total Contact Teaching Hours:78

Please note that the catalogue is provided as a guide to modules in DIT. Not all modules listed will necessarily be offered every year and new modules may also be added. Information subject to change. For detail on specific programmes/modules please contact the relevant School directly.