Business Taxation
Main language of instruction: Spanish
If the student is enrolled for the English track then classes for that subject will be taught in the same language and also in Spanish.
Financial law is the branch of law that regulates the financial activities of public bodies, namely, the activity of collecting, managing and using monetary resources necessary to meet collective needs. Thus, the course consists of two separate parts: public income (tax law and the law of public credit or debt) and government spending (budget law). However, financial law is taught in economics faculties in particular way meaning that, without going into detail, only one kind of public revenue is included in the content of Spanish Tax System courses: taxes. Therefore excluding other sources for public authorities to obtain revenue and the rules governing public spending, tax management, inspection, collection, review and sanctioning procedures.
The objective of the Spanish Tax System course is for students to acquire a solid knowledge of the two main tax types: tax on personal income, tax on company earnings and value added tax.
Become familiar with the legal framework within which companies operate and be able to apply the rules in the business world.
Theme 1.
Introduction to the Spanish Tax System
1. Main features of the Spanish Tax System
2. Types of taxes. Authorities.
Theme 2.
Personal Income Tax
1. Personal income tax: nature and taxable event of.
2. Taxpayer and other aspects of personal income tax.
3. Determining taxable income.
4. Income from labour and capital.
5. Income from economic activities.
6. Direct estimation.
7. Habitual capital gains and losses.
8. Taxable base. Gross tax amount.
9. Tax deductions. Amount owed.
10. Withholding. Net tax amount.
11. Tax management.
PRACTICES: Case Studies on Personal Income Tax.
Theme 3.
Corporation Tax
1. General principles.
2. Taxable base I: General principles.
3. Taxable base II: Income and expenses
4. Taxable base III: Depreciation and amortisation.
5. Taxable base IV: Provisions.
6. Taxable base V: Income derived from the transfer of assets and special valuation rules.
7. Determining gross tax amount.
8. Determining amount owed.
9. Determining tax liability: liquidation and management.
10. Special treatments.
PRACTICES: Corporation Tax Case Studies.
Theme 4
Value Added Tax (VAT)
1. Nature and scope.
2. Taxable event: concept of entrepreneur or professional.
3. Taxable event: transactions not subject to VAT.
4. Taxable event: delivery of goods.
5. Taxable event: provision of services.
6. Exempt transactions.
7. Tax accrual.
8. Taxable base.
9. Taxpayer.
10. Rate. VAT deductions. Rule of proportionality.
11. EU Intracommunity transactions.
12. Tax returns.
PRACTICES: Value Added Tax Case Studies.
To understand the exact content of legal categories and tax figures and the corresponding application to each tax, theoretical explanations must be combined with practical work. For an accountant the case study method is essential.
Therefore, the course has a practical slant through using real case studies. However, an attempt will be made to overcome the purely arithmetical aspect so that students can reflect on the principles underpinning legislative regulations.
To calculate the final grade will be the average of the marks for continuous assessment (practice) with the grade of the final exam. The final exam will have a theoretical and practical cases (IS, VAT and income tax).
* EMILIO ALBI, Spanish Tax System I and II, Editorial ARIEL
* Practical Manual Income Tax Agency.
* PRACTICAL GUIDE IS AEAT.
* Practical Manual VAT AEAT.
Several authors * Center for Financial Studies, Introduction to the Spanish tax system, CEF.
Several authors * Center for Financial Studies, Tax. Reviews and Case Studies (2 volumes).
Several authors * Center for Financial Studies, Tax Personal Income Tax. Reviews and Case Studies (2 volumes).
* Value-added tax. Comments and prácticos cases. 2012 (2 volumes). CEF
* TAX Memento, Editorial Francis Lefebvre.