Course Details

Course Information Package

Course Unit TitleTAXATION I
Course Unit CodeABSA413
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 tax computations for individuals and companies.
  2. Identify the tax system in Cyprus and compare it to the UK.
  3. Construct tax computations for individuals and companies.
  4. Examine computational and theoretical aspects of VAT.
  5. Evaluate case study scenarios on business tax and propose tax saving schemes
Mode of DeliveryFace-to-face
Recommended optional program componentsNONE
Course Contents

Capital Gains Tax: Examine the scope of this tax. Prepare computations for the tax and recognise the administration of the tax.

Corporation tax: Construct computations involving basic aspects (such as taxable income, losses). Rental income assessments. Capital allowances.

Overview of tax system: Identify the structure of the tax system in Cyprus and compare it to the UK. Examine the roles of tax inspectors and tax collectors. Examine the issue of tax residency in Cyprus.

VAT: Evaluate the basic principles of VAT for individuals and companies. Registration and deregistration. Tax point theory. Computations of VAT.

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.

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 methodsThe 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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