Course Objectives

The course will provide students with knowledge of the central regulations in the tax law for the calculation of:

• income (income subject to tax and expenses which are tax deductible)
• wealth (wealth entries adjusted for debt) for both individual taxpayers and limited companies
• employer’s contributions for businesses with employees

The course will also provide information concerning value-added tax and insight into the main tax assessment documents for tax subjects.

Course Description

The course will focus on the following topics:

• Taxation of individual tax subjects (adults and children) in various life and work situations, e.g. students, employees, unemployed, people on sick-leave and senior citizens
• Taxation of trade and business, organised as individual activities or limited companies
• Value-added tax on purchases and sales, and withdrawal from registered businesses and individuals
• Employer’s contributions expenditure
• Calculation of shares value in private limited companies
• Profit and loss calculation on realisation of shares
• Calculation of personal income in connection with business ownership (individual economic activity)
• Taxation of dividends from limited companies
• Regulations for the administration and payment of taxes of employees
• The principal tax assessment documents for trade and business, employees and other categories

Learning Methods

The lectures will cover theoretical topics and legal texts, as well as provide practical examples. Assignments will be worked on in some of the lectures.

Assessment Methods

3 obligatory assignments which must be submitted; 2 of the assignments must receive passing marks. Written examination, 4 hours.

Minor adjustments may occur during the academic year, subject to the decision of the Dean