ØKB2008 Tax Laws 2

Contents and structure

The course aims to give students knowledge of the Norwegian tax system, including the calculation of tax and value-added tax for businesses. The course mainly includes:

General income for businesses, including taxable operating and capital revenues and deductible operating and capital costs, taxable capital gains and deductible capital losses, and deficits.

Calculation of gross employment income in sole proprietorship, including the shielding model for self-employed individuals and tax on gross employment income.

Taxation of limited companies and shareholders, including the shareholder model, the exemption model, and liquidation, etc.

Taxation of partnerships, including the shielding model for partnerships, and calculation of gain/loss on the sale of shares of the partnership.

Principles of Norwegian value-added tax legislation

Learning Outcome

Knowledge

The student:

• Has knowledge of the tax legislation (both regular tax and value added tax) regarding businesses and companies
• Has knowledge of key exemptions without deductions and exemptions with deductions within the tax rules (value added tax).
• Is familiar with which transactions and events concerning ownership and equity that may cause taxation
• Has knowledge of tax effects caused by discontinuance and liquidation of businesses
• Knows the regulations concerning the calculation of employers' contributions
• Has knowledge of the stipulation of wealth for unlisted companies and parts of partnerships
• Is familiar with relevant regulations concerning deductions in assessed tax
• Is familiar with the main principles concerning regulation of acquisition value for assets received as gifts or inheritance
• Has knowledge of tax planning
• Has knowledge of basic tax administrative law and tax payment and central regulations concerning neglect

Skills

• Can determine taxable revenue, deductible costs, and carry out correct accrual of items included in calculations of general income in businesses (sole proprietorship, limited companies, and partnerships)
• Can calculate tax, tax payable, and deferred tax for limited companies
• Can determine the basis of taxation of shareholders (the shareholder model and exemption model), participants in partnerships (the shielding model for partnerships), and holders proprietor of sole proprietorships (the shielding model for self-employed individuals)
• Can handle tax-related issues concerning transformation from sole proprietorships to limited companies
• Can assess tax-related effects concerning transfer of businesses
• Can assess value-added tax-related issues in a business
• Can treat common transactions, and the most common exemptions without deduction and exemptions with deduction, in accordance with value-added tax regulation
• Can reflect ethically on tax planning

General Knowledge

• Is able to acquire up-to-date knowledge within the areas of knowledge and skills mentioned above
• Can pass on important knowledge through relevant expressions and can exchange points of view and experiences with other professionals
• Is able to view the course in a bigger social context

Entry requirements

None

Recommended previous knowledge

ØKB2006 Tax Law I eller tilsvarende

ØKB3117 Intermediate Financial Accounting eller tilsvarende

Teaching methods

Lectures, plenary exercises, and guidance related to individual exercises or exercises in groups.

Compulsory learning activities

None

Assessment

Exam at home, (Individual), 7 days, 30%

Written schoolexam, 4 hours, 70%

A pass is needed in both parts.

Grad Scale A-F

Examination support material

Part I, Exam at home (individual); All printed and written study aids may be used

Part II, Written exam at school ; All calculator models allowed, Tax law collection with regulations (Skattelovsamling med forskrifter)

https://www.hvl.no/student/eksamen/hjelpemiddel-ved-eksamen/

More about examination support material

Course reductions

• ØKB2033 - Skatterett II - Reduction: 6 studypoints
• ØKB033 - Skatterett II - Reduction: 6 studypoints
• SA040 - Skatterett (revisor) - Reduction: 6 studypoints
• SA040 - Skatterett (revisor) - Reduction: 6 studypoints
• ØBR112 - Skatte- og avgiftsrett 2 - Reduction: 7.5 studypoints
• JU6-1002 - Skatte- og avgiftsrett 2 - Reduction: 7.5 studypoints