Principles of Taxation (Level 8)

Duration 12 weeks Full-time x 5 hours per week

Stage Award

NFQ Level Level 8

ECTS Credit 5

The Taxation module in an accounting degree provides students with a comprehensive understanding of the principles, laws, and practices governing taxation at both the individual and corporate levels. Key topics include income tax, capital gains tax, value-added tax (VAT), and international taxation issues. Students learn to navigate tax regulations, understand compliance requirements, and explore strategies for tax planning and optimization.

The module emphasizes the role of taxation in business decision-making and financial reporting, as well as the ethical considerations involved in tax practices. Through case studies and practical exercises, students develop the analytical skills necessary to interpret tax legislation and apply it effectively in various scenarios, preparing them for careers in tax accounting, consultancy, and financial advisory roles.

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Indicative Syllabus

Irish tax system

The principal sources of revenue law
The pay and file system for all examinable taxes
The procedures relating to Revenue audit and appeals

Income tax liabilities

Scope of Irish income tax
Employment income
Self-employment income
Investment income
Comprehensive computation of income tax liability
Exemptions and reliefs

Corporation tax liabilities

Scope of Irish corporation tax
Comprehensive computation of corporation tax liability
Effect of corporate group structure for corporation tax purposes
Exemptions and reliefs

Chargeable gains

Scope of Irish tax on chargeable gains
Basic principles of computing gains and losses
Computation of tax payable
Exemptions and reliefs

Value Added Tax

Scope of Irish VAT
Who must register for VAT
VAT on cross-border transactions
Computation of VAT liabilities

Local Property Tax

Scope of Irish LPT
Computation of LPT
Reliefs and exemptions

PRSI and USC

Scope of PRSI and USC
Computation of PRSI and USC

Module Details

Minimum Intended Learning Outcomes (MIMLOS)

Upon successful completion of this module, the learner should be able to:
Assess the scope of the tax and the tax regulatory environment.
Compute evaluate liabilities for individuals and companies.
Research and apply the main exemptions and reliefs.
Operate the pay and file system.
Evaluate how the Revenue audit and appeals system operates.
Investigate and comment on the source of Irish tax law.

Assessments / Exams

MIMLOs
Assessment
Percentage

The Business Mathematics module will be assessed via a 80% Proctored Written Examination and 20% Continuous Assessment.

Reassessment Opportunity

Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board Meeting and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Principles of Taxation (Level 8)

Jamie Kennedy

BA (Hons) Accounting and Finance and an Associate Chartered Accountant (ACA) with Chartered Accountants Ireland (CAI)

Jamie is an Internal Audit Manager at Irish Life Group, with responsibility for managing the audit portfolios of Irish Life Health (ILH) and Canada Life Assurance (Europe), both leading financial services firms.

He previously gained extensive external audit experience as an Audit Senior within the assurance and business services team of a top 10 accountancy firm in Dublin. In this role, Jamie led audits across a large and expanding client portfolio spanning a diverse range of sectors, including auctioneering and property management, aviation leasing, architectural design and project management, construction, corporate finance and treasury management, food product development and manufacturing, hospitality, investment holding, money brokerage, manufacturing, motor vehicle dealership and network distribution, legal services, and third-level education.

Jamie is an Associate Chartered Accountant (ACA) with Chartered Accountants Ireland (CAI) and holds a BA (Hons) in Accounting and Finance. He was awarded Excellence in Teaching at ICD Business School for the 2024/2025 academic year.

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