Course Objectives

The course includes an introduction to tax law consisting of understanding and use of the law, use of legal sources, tax assessment law, payment of taxes and tax collection. Further, the course provides students with thorough professional knowledge and a good understanding of the regulations concerning taxation of wealth and income, specially aimed at the practical use of the regulations in business and other contexts. The main part of the course is concerned with taxation in the private sector, i.e. taxation of limited companies, amongst other things in relation to restructuring, transfer of businesses and generation change in businesses.

The course will also provide students with knowledge of duty and tax law, such as value added tax, employer’s contribution law and inheritance taxes, with special focus on the use of regulations in practical contexts.

Course Description

The course includes:
Part I (basic principles, taxation of private individuals, tax assessment management and similar topics)
 Introduction to the basic principles of tax law – including tax base
 Wealth and income taxation of private individuals – including general income, personal income, net wealth tax
 Introduction to tax assessment management law, including tax assessment, changes in tax assessment, complaints, qualification regulations and sanctions against taxpayers
 Filling out of tax assessment forms
 Introduction to payment of taxes and tax demands, including advance payment of tax (earned income), advance payment of tax and back payment of tax
 Employer’s contributions, with special emphasis on management of payment in kind and expenses allowance
Part II (taxation of trade and business)
 Introduction to taxation of trade and business, with a special focus on the differences in relation to the taxation of private individuals
 General income in commercial activities, with emphasis on specification of the date of income and expenditure, including differences in relation to Accounting Act regulations
 Special rules in relation to limited companies and shareholders – including postponed tax model and correction of income
 Special rules in relation to participant companies
 Personal income in trade and industry (estimated personal income), including conditions and calculations
 Restructuring, transfer of businesses and generation change in businesses, including tax exemption and comparison of various types of companies and alternative procedure practices, taxation of companies and company participants
 Filling out of tax assessment forms, including harmonisation of provisional differences between finance accounting and tax accounting
Part III (Duty Law)
 Value-Added Tax system – including the extent of duties liable to taxation (area of duty liability) and the possibility of voluntary registration of duties, basis for duty liability and special exemptions for outgoing value-added tax and special limits in tax deductibility for incoming value-added tax
 Inheritance taxes – including the extent of tax liability and tax liability basis, with special emphasis on generation change in businesses

Learning Methods

Lectures in the spring and autumn semesters. Discussion of theoretical topics and legal texts. The lectures will also provide solutions to practical examples and exercises.

Assessment Methods

Obligatory assignments in the first and second semester. The assignments must receive passing marks before students will be permitted to sit the examination. Written individual examination, 6 hours.

In ordered to qualify as a registered public accountant candidates must achieve a grade of C or better.

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