Taxation 1 (Acct)

The module introduces students to the concept of taxation and considers the principles of a taxation system and its role in the economy.  Students will study income tax as it applies to both unincorporated bodies and employees, Capital Gains Tax for both individuals and companies, VAT and an introduction to Local Property Tax. 

1. Discuss the operation and scope of the Irish Taxation System and the role of sustainability provisions on corporate and individual behaviour.

2. Compute the income tax liabilities of individuals and examine any alternatives available to minimise their income tax liabilities.

3. Apply the rules of the PAYE system in dealing with employees.

4. Calculate the capital gains tax liabilities of individuals and companies.

5. Apply value added tax (VAT) principles and demonstrate the ability to calculate the VAT liability of chargeable persons.

6. Determine when a property is liable to Local Property Tax and calculate the LPT liability