ØBR112 Tax Law 2

Contents and structure

The course will provide the student with sound knowledge of the Norwegian tax system, as well as enable the student to interpret the regulations and make calculations of taxes and duties. The course is based on ØBR111 Tax Law I, and goes deeper into the tax system. The course is twofold; with the main focus on taxation of business activities and owners of such activities, and special VAT matters.

Together with ØBR111 Tax Law 1, the course covers the requirements for the profiling course Tax law in the Recommended plan, Bachelor in Business Administration - profiling accountant.

The course assumes that ØBR111 Tax Law 1 has been completed.

The course is twofold; and the central content of each section is as follows;

Business taxation

· Calculation of taxable ordinary income in business activities, based both on the profit and loss account's profit before tax expense and directly on the tax act's rules for sole proprietorships without an accounting obligation

· Review of key tax assessment and accrual rules in business activities, including the rules for gains and losses in business and treatment of losses

· Calculation of personal income in business activities (enterprise model)

· Taxation of personal shareholders, including the shareholder model

· Taxation of company shareholders, including the exemption method, rules for group contributions, cut-through, etc.

· Taxation of participants in general partnerships (participant model)

· Tax effects of reorganisation, conversion and winding up of business activities

· Asset determination for non-listed shares and shares in general partnerships

· Relevant rules on deductions from assessed tax

Employer's National Insurance contributions and financial tax

· Tax administration law in brief, based on ØBR111

Value added tax

· Main rules for VAT registration, sales subject to VAT, withdrawals and imports, exemptions and exemptions, and deductions for input VAT

· Value added tax and real estate (builds on ØBR111)

The adjustment rules

· Value added tax and public sector

· VAT treatment of imports and exports

Learning Outcome

The student has:

knowledge

• about which transactions and events regarding ownership and equity may entail taxation
• on the tax effects of transformation, cessation of business and liquidation of a company
• on rules for reporting wages and calculating employer's contribution

skills

• can make the correct timing of the items for calculating ordinary income in business (EPF, AS, ANS).
• can calculate tax cost, tax payable and treatment of temporary differences for limited companies
• can determine the basis for taxation of shareholders (the exemption method), and owners of sole proprietorships (the enterprise model), including knowledge of the taxation of participants in responsible companies (the participant model)
• can make ethical reflections on tax planning
• can assess a business's VAT situation
• can process ordinary transactions in terms of VAT, including within/outside the law, import/export and various VAT rates.

competence

• knows about tax reporting and tax payment, including central rules for disregarding and additional tax
• knows the tax treatment of assets received as a gift or inheritance
• knows the rules for withdrawals
• knows the rules about adjustment

Entry requirements

None

Recommended previous knowledge

The course ØBR111 Tax Law 1 or equivalent courses are recommended previous knowledge. A similar course means courses that cover ØBR111's content within personal taxation, business taxation and VAT.

Teaching methods

The teaching is mainly lectures and case solving.

Compulsory learning activities

There is no compulsory learning activity.

Assessment

Written school exam, 5 hours. The exam can be held on a digital exam system.

The time and place of the exam will be stated on Studentweb.

Grading scale A-F, where F equals fail.

Examination support material

Lovdata Pro in general examination mode

All calculator models are allowed, with the following exceptions

- the calculator should not have the possibility of receiving / sending

- the calculator should not be able to process symbolic mathematical expressions

- the calculator cannot be connected to the mains

- the calculator must not make noise

More about examination support material

Course reductions

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