Course Details

Course Information Package

Course Unit TitleTAXATION II
Course Unit CodeABSA414
Course Unit Details
Number of ECTS credits allocated5
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. Interpret the results of advanced tax computations for individuals and companies.
  2. Identify the system of group relief in Cyprus and compare it to the UK.
  3. Construct advanced tax computations for individuals and companies.
  4. Examine computational and theoretical aspects of VAT and propose tax saving schemes..
  5. Evaluate case study scenarios on a multiple of taxes and propose tax saving schemes.
Mode of DeliveryFace-to-face
Recommended optional program componentsNONE
Course Contents

Corporation tax: Construct computations involving advanced aspects. Group tax theory. Foreign tax aspects. Balancing allowances and charges.

Income tax and business tax: Assess the basic principles of income tax. Prepare income tax computations for individuals involving both basic principles and advanced aspects. Rental income assessments. Foreign tax aspects. Benefits in kind.

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax. Examine aspects of capital gains tax in the areas such as gifts, inheriting property, exchanging property etc. Produce solutions to minimising tax using available tax reliefs.

VAT: Evaluate the basic principles of VAT for individuals and companies. Registration and deregistration. Tax point theory. Computations of VAT. The calculation of the VAT Return bearing in mind various reliefs that may be claimed. VAT for groups.

Administration of tax: Apply the procedures concerning the administration of tax giving advice to clients in the form of letters, memos or reports. Provide tax advice concerning late payment of tax and potential interest and penalty payments for individuals and companies.

Social insurance: An introduction to Social Insurance and its computations concerning employees and employers.

Tax planning: Applying tax planning solutions for individuals and companies concerning: corporation tax, income tax, husband and wife cases, capital gains tax and VAT.

Recommended and/or required reading:
  • BPP (2008), AIA Professional Level 2 - Paper 16: Taxation and Tax Planning, 2nd Edition, BPP Learning Materials.
  • Kaplan Publishing (2010), ACCA Paper F6 Taxation, December 2009 &June 2010 Edition, Kaplan Publishing.
  • Deloitte Cyprus, Cyprus Tax Facts 2011, Deloitte Cyprus.
Planned learning activities and teaching methods

The taught part of course is delivered to the students by means of lectures. Lecture notes and presentations are available through the web for students to use in combination with the textbooks.Lectures are supplemented with class exercises carried out in class and via homework. The students will be asked to complete an assignment during the course.

Assessment methods and criteria
Final Exam60%
Language of instructionEnglish
Work placement(s)NO

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