Universitat Internacional de Catalunya
Business Taxation
Other languages of instruction: Catalan, English,
Teaching staff
asegarra@uic.es
jblanco@uic.es
Introduction
Financial law is the branch of law that regulates the financial activities of public bodies, namely, the activity of collecting, managing and using monetary resources necessary to meet collective needs. Thus, the course consists of two separate parts: public income (tax law and the law of public credit or debt) and government spending (budget law). However, financial law is taught in economics faculties in particular way meaning that, without going into detail, only one kind of public revenue is included in the content of Spanish Tax System courses: taxes. Therefore excluding other sources for public authorities to obtain revenue and the rules governing public spending, tax management, inspection, collection, review and sanctioning procedures.
Objectives
The objective of the Spanish Tax System course is for students to acquire a solid knowledge of the two main tax types: tax on personal income, tax on company earnings and value added tax.
Competences/Learning outcomes of the degree programme
- 01 - To be familiar with, understand and apply the methods, techniques and instruments specific to accounting.
- 02 - To be familiar with and know how to interpret and apply current accounting standards.
- 03 - To select and adequately apply applicable accounting alternatives.
- 04 - To understand and know how to use financial terms within a business framework.
- 05 - To understand the functions of corporate finance departments.
- 06 - To know how to apply the main policies for capital structure and asset management.
- 07 - To be familiar with the basic features of the Spanish economy, both in terms of structure and economic policies.
- 15 - To acquire a solid knowledge of the main taxation models at a state, regional and local level.
- 16 - To identify and understand the tax regulations which have the most direct impact on individuals and legal entities and know how to carry out settlements.
- 31 - To develop the ability to identify and interpret numerical data.
- 33 - To be able to search for, interpret and convey information.
- 45 - To be able to work with academic papers.
- 48 - To be able to identify the information needs in order to manage the main departments within organisations.
- 50 - To acquire the ability to relate concepts, analyse and synthesise.
- 51 - To develop decision making skills.
- 53 - To acquire the skills necessary to learn autonomously.
- 63 - To be able to analyse business related behaviour and decisions and evaluate them from an economic, social and ethical point of view.
- 65 - To acquire the ability to put knowledge into practice.
- 68 - To develop mechanisms that encourage sensitivity towards social welfare issues.
Learning outcomes of the subject
Become familiar with the legal framework within which companies operate and be able to apply the rules in the business world.
Syllabus
Theme 1.
Introduction to the Spanish Tax System
1. Main features of the Spanish Tax System
2. Types of taxes. Authorities.
Theme 2.
Personal Income Tax
1. Personal income tax: nature and taxable event of.
2. Taxpayer and other aspects of personal income tax.
3. Determining taxable income.
4. Income from labour and capital.
5. Income from economic activities.
6. Direct estimation.
7. Habitual capital gains and losses.
8. Taxable base. Gross tax amount.
9. Tax deductions. Amount owed.
10. Withholding. Net tax amount.
11. Tax management.
PRACTICES: Case Studies on Personal Income Tax.
Theme 3.
Corporation Tax
1. General principles.
2. Taxable base I: General principles.
3. Taxable base II: Income and expenses
4. Taxable base III: Depreciation and amortisation.
5. Taxable base IV: Provisions.
6. Taxable base V: Income derived from the transfer of assets and special valuation rules.
7. Determining gross tax amount.
8. Determining amount owed.
9. Determining tax liability: liquidation and management.
10. Special treatments.
PRACTICES: Corporation Tax Case Studies.
Theme 4
Value Added Tax (VAT)
1. Nature and scope.
2. Taxable event: concept of entrepreneur or professional.
3. Taxable event: transactions not subject to VAT.
4. Taxable event: delivery of goods.
5. Taxable event: provision of services.
6. Exempt transactions.
7. Tax accrual.
8. Taxable base.
9. Taxpayer.
10. Rate. VAT deductions. Rule of proportionality.
11. EU Intracommunity transactions.
12. Tax returns.
PRACTICES: Value Added Tax Case Studies.
Teaching and learning activities
In person
To understand the exact content of legal categories and tax figures and the corresponding application to each tax, theoretical explanations must be combined with practical work. For an accountant the case study method is essential.
Therefore, the course has a practical slant through using real case studies. However, an attempt will be made to overcome the purely arithmetical aspect so that students can reflect on the principles underpinning legislative regulations.
Evaluation systems and criteria
In person
To calculate the final grade will be the average of the marks for continuous assessment (practice) with the grade of the final exam. The final exam will have a theoretical and practical cases (IS, VAT and income tax).
Bibliography and resources
* EMILIO ALBI, Spanish Tax System I and II, Editorial ARIEL
* Practical Manual Income Tax Agency.
* PRACTICAL GUIDE IS AEAT.
* Practical Manual VAT AEAT.
Several authors * Center for Financial Studies, Introduction to the Spanish tax system, CEF.
Several authors * Center for Financial Studies, Tax. Reviews and Case Studies (2 volumes).
Several authors * Center for Financial Studies, Tax Personal Income Tax. Reviews and Case Studies (2 volumes).
* Value-added tax. Comments and prácticos cases. 2012 (2 volumes). CEF
* TAX Memento, Editorial Francis Lefebvre.