BUS260 Tax Law

Knowledge

The student

• knows tax and duty regulations (including VAT) related to business operations and companies.
• is familiar with transactions and events concerning ownership and equity that may lead to taxation.
• is familiar with the tax implications of business cessation and company liquidation.
• is familiar with the rules for calculating an employer's National Insurance contributions.
• is familiar with valuing non-listed shares and partnership interests for wealth tax purposes.
• is familiar with key regulations for determining the entry value for recipients in generational transfers.
• has a general understanding of tax planning and ethical considerations.
• is familiar with fundamental tax administration law and tax payment regulations.
• is familiar with key rules for disregarding transactions for tax purposes.

Skills

The student

• can determine taxable income, deductible expenses, and correctly time items for calculating general business income (EPF, AS, DLS).
• can calculate tax expense, payable, and deferred tax for limited liability companies.
• can handle the tax aspects of converting a sole proprietorship (EPF) into a limited liability company (AS).
• can assess the tax implications of business transfers.
• can evaluate a business's VAT-related matters.
• can handle VAT treatment of ordinary transactions.

General Competence

The student

• can apply legal methodology to address tax- and duty-related issues.
• can update and acquire new knowledge in tax law and other legal areas relevant to accounting and auditing.
• can communicate key subject matter using appropriate forms of expression.
• can exchange views and experiences with other professionals and contribute to developing good practices.
• can reflect on ethical issues within the subject.
• can view the subject in a broader societal context.