Taxation and Tax PlanningModule Details

Course/Module Description:

Taxation is an important part of financial planning. With a greater understanding of tax planning, you can find ways to increase your disposable income by reducing your tax liability. This module exposes students to strategies, as well as review of the formulation and structure of taxation and tax planning. Additionally, this module is designed to ensure students understanding towards the ability to apply the principles and practice of taxation and identify and resolve complex taxation problems.

Course/Module Objectives:

The main objectives of the course are:

1. To provide an overview of the Local taxation system
2. To explain the core knowledge of the underlying principles of Local taxation
3. To show how key taxation principles can be applied in practice
4. To discuss the importance and role of taxation in the activities of individuals and businesses
5. To explain how the income tax liabilities of individuals and companies are computed

Course/Module Learning Outcomes:

After completion of the course students are expected to be able:

1. To apply computational rules for Income Tax and advise on appropriate tax planning measures, including advise on the requirements of a revenue audit. To compute the income tax liabilities of individuals
2. To apply computational rules for Corporation Tax in the preparation of Corporation Tax returns and advise on appropriate tax planning measures. To compute the corporation tax liabilities of individual and groups of companies
3. To explain the operation of Capital Acquisitions Tax, and apply the computational rules for Capital Acquisitions Tax and provide appropriate advise
4. To understand the operation and scope of the Local tax system
5. To explain and compute the special contribution for the defence (SCD) liabilities of individuals and companies.