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Syllabus: CICTA 404
SYLLABUS CICTA 404 - INTERNATIONAL TAXATION (COMPULSORY) PROFESSIONAL LEVEL
The core aim of the course is to help students grasp the application and the computation of taxation regarding international laws. Students are expected to demonstrate knowledge internationally in the application of the principles of taxation, particularly in the area employment income, business income and income from vocation.
It is structured to assist students understand the legal framework, essence and the principles of international taxation particularly the computations. The whole concept of the international components of Direct and Indirect taxes are covered.
SYLLABUS: The background and Evolution of International Taxation. Sources of Internal Tax-Primary and Secondary sources
* The concept of international taxation
* Foreign and local tax jurisdiction
* The Primary and secondary sources of international taxation
* The impact of international law on local tax regimes
* Tax harmonization issues and the international financial reporting standards
The issue of Tax Harmonization and the International Accounting Standards etc.
* The challenges of tax harmonization and the international accounting and? auditing standards
* International tax planning and business organization
* International corporate and non corporate entity tax assessment.
* Taxation of Non- resident and residents person
* The dual residency and tax havens
* The issue of international tax regimes
* Taxation of foreign businesses, employment, investments and vocational incomes.
Transfer Pricing and Capital Gains Tax, etc
* Application and the arms length principle
* Transactions between associate persons, choice of transfer pricing mechanisms and controlled relation
* Transfer pricing regulations and the methodology in respect of the comparable uncontrolled price method; the resale price method; the cost-plus method; the transactional profit split and the transactional net margin method.
* The provisions in administration of the capital gain tax
* Rules in determining the cost base in computing capital gain tax.
* Rational underlying transactions exempted from capital gains tax
* Disposal and acquisition of assets in relation to; hire purchase, part disposal, connected persons, lost/destroyed, death, bargains involving two or more transactions
* Capital Gains in relation to stock and shares
* Tax planning schemes under capital gain tax