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Corporation Tax Administration & Computation
Principles and Scope. Self -Assessment system. Dates for filing and payment. Preliminary Tax. Dividends Withholding Tax. Obligation to deduct Income Tax from Payments. Calculate the corporation tax liability for a company with the following types of income, trading profits, professional income, interest, dividends and rental income. The Layout of a Corporation Tax Computation. Adjusted Gains. Development Gains. Treatment of Trading Charges and Non Trading Charges. Meaning and significance of Accounting Periods. Allocation of profits between Accounting periods. Calculation of Adjusted Profits. Capital Allowances.
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Corporation Tax Exemption
Corporation Tax Exemption for Start Up companies. Marginal Relief. Carry forward and use of PRSI.
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Loss Relief
Trade losses. Value based claim. Trade charges.
Case V losses. Excess capital allowances.
Capital losses.
Restrictions on loss relief due to late filing.
Priority of use and claim of losses. Interaction of various losses. Use of carry forward losses.
Change of ownership. Recognize the factors that will influence the choice of loss relief claim
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Group relief
Meaning of groups for losses and for capital gains.
Group Relief for losses.
Restriction of loss relief. Co-terminus periods. Late filing of returns
Intra group payments.
Intra group transfer of assets
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Close Companies
Definition of a Close Company. Sections 436 Expense payments to shareholders and Associates. Section 437 Excessive Interest. Section 438 Loans to Directors. Close Company Surcharge Calculation. Preferential Interest for Shareholders who may be employed by the Company -BIK’s, Gifts. Overvalue of assets sold to company or purchase of Assets at undervalue
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Tax Residence of Companies
Company tax residence. Central management & control. Tax implications re residence status of the company.
The tax implications for an Irish company trading abroad through a branch or subsidiary.
The tax implications of a non-resident Irish company trading in Ireland.
The concept of a permanent establishment.
Double Taxation Relief. Credit relief. Exemption. Deduction. UK Irish Treaty.
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SETU Carlow Campus reserves the right to alter the nature and timings of assessment
Module Resources
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Recommended Book Resources |
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Patrick Mulcahy. (2020), Irish Taxation: Law & Practice, 18. 35, Institute of Taxation, Dublin, p.900, [ISBN: 9781842605561].
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Supplementary Book Resources |
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Irish Tax Institute. (2020), Taxation Summary Finance Finance Act, 44th. 34, Irish Tax Institute, Dublin, p.564, [ISBN: 9781842605547].
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Supplementary Article/Paper Resources |
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'The Irish Tax Review'.
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'Accountancy Ireland'.
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'Accounting & Business'.
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Other Resources |
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www.revenue.ie, The Irish Revenue Website.
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www.taxireland.ie, The Irish Taxation Institute.
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www.irlgov.ie, Website of the Irish Government.
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Irish Tax Institute. Taxfind.
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