Learning outcome

After successfully completing the course, the candidate will have achieved the following learning outcomes:

The candidate:

• Has knowledge of principal tax regulations within the area of general income and capital taxation of individuals not involved in commercial activities
• Has knowledge of principal tax regulations within the area of general income and capital taxation of individuals and legal taxable entities involved in commercial activities
• Has thorough knowledge of income and capital taxation of privately owned real estate and commercial real estate
• Has knowledge of the main VAT regulations and the VAT system
• Has good knowledge of the VAT rules regarding real estate
• Is familiar with the main regulations for inheritance and gifts, especially rules regarding real estate
• Can use the rules for determining taxable income and deductible expenses, especially those concerning real estate for people not involved in commercial activities, and the accrual of such income and expenses
• Can use the rules for determining taxable ordinary income and ordinary tax -deductible expenses (including depreciation), especially regarding real estate owned in association with commercial activities, and the accrual of income and expenses for different forms of enterprise (limited companies, general partnership and sole proprietorships)
• Can calculate the net taxable income of individuals not involved in commercial activities, especially concerning real estate
• Can calculate the net taxable income of commercial enterprises of different types (limited companies, general partnerships and sole proprietorships), especially concerning real estate
• Can calculate taxes on the basis of different tax bases for personal and impersonal tax entities within and outside the context of commercial activities
• Can apply VAT rules and calculate VAT, especially relating to real estate (purchase, ownership and disposal), including the voluntary registration of leased buildings in commercial activities

Course Description

The course includes:

Tax law

General information about the Norwegian tax system, types of tax entities, tax location and calculation of different tax bases

Travel expenses: business and work-related

Taxation of real estate (dwelling and leisure properties), privately owned and used in commercial activities, which includes:

• Purchase of real estate
• Use of real estate
• Renting out real estate property
• Costs concerning maintenance of real estate property
• Sale of real estate property, including land
• Sale of household goods and personal property with the sale of real estate
• Tax regulations concerning the purchase or rental of real estate
• Tax regulations concerning dwellings on farms

Taxation of real estate (residential, recreational, land and buildings used in commercial activities) owned by commercial enterprises. This includes:

• Purchase of real estate
• Private use of real estate
• Renting out real estate
• Costs and maintenance
• Depreciation
• Voluntary and involuntary sales
• Multi-purpose buildings
• Entrepreneurial activities: sale of land and provision of building services
• Entrepreneurial activities: sale of completed projects

Property taxation of real estate within and outside the context of commercial activities.

Inheritance and gifts

• Inheritance taxes when real property is acquired through inheritance or as a gift

VAT law

• General rules concerning VAT
• Private use of real estate
• Changed use of real estate, adjustments and VAT
• Voluntary registration in the VAT register concerning leasing of property
• VAT requirements concerning the sale of real estate
• Entrepreneurial activities: sale of land and provision of building services

Teaching and Learning Methods

Lectures with review of laws and other legal sources. Examples are reviewed in relation to the review of subject theory. Exercises will be reviewed in some lectures.

Assessment Methods

• Written examination, 4 hours, graded mark
• Work requirements, mandatory assignments that must be approved in order for the student to take the written examination

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