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QLLM163 Value Added Tax (Sem 2)

Module Description

VAT is one of the most important taxes in the United Kingdom, and in every major European State. The tax has acquired particular importance in the last ten years as a major source of revenues for national tax authorities, which rivals those derived from direct taxation. The main emphasis in the course will be on VAT as it operates under the EU Directives, but with particular reference to how it has been implemented in the United Kingdom. The form of VAT used in the UK and other Member States is shaped to a large extent by EU requirements which are directly effective, and accordingly a significant part of the course will be devoted to the EU legislation and jurisprudence. Opportunity will be taken to note on a comparative basis variations in the VAT regimes between Member States. The EU form of VAT is not the only form in current use. In particular the form introduced in non-EU Countries (such as Canda, Singapore and India) as the Goods and Services Tax (GST) has proved attractive to a number of states, and we will consider GST on a comparative basis.

Prerequisites

None

Applicable Groupings

Mode of Assessment

2.15 hour written examination paper

Credits

22.5 Credits

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