Student guide Facoltą di Economia A.A. 2011/12

Tax Law
Aim of the course
The aim of such course is to provide the participant with high level introduction to general principles of tax law and to the main issues related to drafting and interpreting tax rules. It swill be mainly focused on income tax law both for individuals and corporate entities. Relevance will be given also to international tax issues and some comparative analysis.
Participant to the classes will be supported in the analysis above through the discussion of jurisprudence and administrative cases, as well as by other practical cases.
Participation to classes is strongly recommended.

Introduction to Constitutional Principles
The concept of tax and legal process for drafting tax laws
Definition of taxable income
a.         categories of income
b.         taxation of benefit in kind
c.         payment for damages
Tax avoidance
a.         definition
b.         substance over form
c.         the concept of abuse of law
Tax Deduction and Tax Credits
a.         business expenses
b.         capital expenditure
c.         depreciation
f.          typology of losses
h.         personal expenses
Definition of tax payer
a.         individual or family group
b.         anti-assignment of income rules
Selected International tax issues
a.         global taxation vs territoriality
b.         definition of tax residence
c.         outbound transactions
d.         inbound transactions
Accounting for taxes and timing issues
a.         taxable period vs accounting period
b.         cash vs accrual
c.         Net operating losses
Taxation of capital gain or losses
a.         definition of capital gain/losses
b.         tax values
c.         realization vs. recognition
d.         ordinary income vs separate income
c.         participation exemption
Business tax issues
a.         definition of taxpayer for business income purposes
b.         corporate entities and transparent entities
c.         definition of corporate residence for tax purposes
d.         taxable income and tax rated for business
f.          Integration between corporation and shareholder.
Review of some selected issues

Oral session.

Reading list
Compulsory reading:
Reuven S. Avi-Yonah, Nicola Sartori and Omri Marian, Global Perspectives on Income Taxation, OXFORD University Press, 2011.
Suggested reading:  
Victor Thuronyi, Tax Law and Drafting, International Monetary Fund, 1998.
Brian J.Arnold, Michael J. McIntyre, International Tax Primer, Kluwer Law International, 1995.