Taxation
16 ECTS
Taxation
Get 70% back via Tax Credit
€385 refund on this module
Module Description
This module serves as an introduction to the principles and technicalities of taxation, exploring its impact on both individuals and companies.
By delving into the functions of the tax system and various types of taxes, students gain essential knowledge to navigate tax-related issues effectively.
Additionally, the module addresses tax liabilities, requiring students to justify their calculations.
Through practical exercises and case studies, students develop proficiency in calculating tax obligations accurately and understanding the underlying principles governing tax liabilities.
Overall, the module equips students with the foundational knowledge and skills necessary to comprehend and manage taxation matters in diverse contexts.
Entry Requirements
Candidates who apply for this course will possess:
• A related qualification at MQF Level 4
and/or
• Two ‘A’ Levels (MQF Level 4) or equivalent one of which should be related to Accounts, Business or Economics and a pass in English Language and Mathematics at MQF Level 3 (‘O’ Level or equivalent).
• Preference will be given to applicants having 1 year work experience related to the study programme.
In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted in the course.
Such RPL process will subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA Academy, so as to verify their experiences and prior learning.
Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.
Target Audience
- Individuals seeking to advance their academic and professional knowledge in Accounting.
- Individuals wanting to pursue a wide range of accounting, consulting, financial and managerial career paths.
- Individuals wanting to enhance their ability to interpret, assess and communicate financial related data.
Module / Unit Instructions
The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning. The structure uses primarily two dimensions of teaching-learning modes:
- Face to Face sessions
Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.
- Online Learning Activities
Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises. Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Assessment 1
- Assessment 2
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Module Intake Dates
October 2024
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Gain a thorough knowledge of the structure of the Maltese Tax System.
- Evaluate the differences between direct and indirect taxation.
- Analyse the purpose of social security contributions.
- Identify the scope of Value Added Tax and describe the VAT Registration Requirements.
- Apply appropriate knowledge of declaring income separately for individuals.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Gain a thorough knowledge of the structure of the Maltese Tax System.
- Evaluate the differences between direct and indirect taxation.
- Analyse the purpose of social security contributions.
- Identify the scope of Value Added Tax and describe the VAT Registration Requirements.
- Apply appropriate knowledge of declaring income separately for individuals.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Compute interest on overdue tax, when the tax has not been paid by the established due dates.
- Calculate income tax on international employment income.
- Identify the method of establishing the residence of an individual.
- Differentiate between a resident’s income tax treatment and the income tax treatment for a non-resident individual.
- Distinguish between employment and self-employment.
- Calculate the taxable profits during self-employment and how this is taxed.
- Identify which expenses are allowable to be deducted for tax purposes.
- Differentiate between tax avoidance and tax evasion.
- Work out the corporate income tax liabilities of single businesses and groups of organisations.
- Assess value added tax requirements for companies and individuals.
- Establish when it is not necessary to register for VAT
- Analyse and assess transactions in light of the VAT Act
- Calculate and claim tax refunds.
- Compile the necessary documents for VAT and tax departments .
- Advise on tax mitigation.
Module-Specific Communication Skills:
At the end of the module/unit the learner will be able to:
- Communicate ideas, problems, and solutions effectively to both specialist and non-specialist audiences verbally or in writing (PowerPoint presentations, reports, etc.).
- Participate in class/online discussions and in organised workshops.
- Present ideas, work, and findings to peers, lecturers, and specialist and non-specialist audiences.
- Contribute to team work as required.
Module-Specific Learner Skills:
At the end of the module/unit the learner will be able to:
- Distinguish between VATable and non-VATable supplies.
- Illustrate the scope of Social Security Contributions (SSC) and demonstrate how to calculate SSC for employed and self-employed individuals.
- Assess the scope of income tax, distinguishing between tax computations for companies and tax computations for individuals.
- Illustrate how to fill in an Individual Income Tax Return.
Module-Specific Digital Skills and Competences:
At the end of the module/unit, the learner will be able to:
- Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.