| CODE | CML5029 | ||||||||
| TITLE | International Fiscal Principles | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 8 | ||||||||
| DEPARTMENT | Commercial Law | ||||||||
| DESCRIPTION | Fiscal considerations are of paramount importance to any financial centre, its users and their advisors. This study-unit will deal with the following key issues: (i) The Maltese tax system relevant to international transactions: The study-unit deals with salient provisions contained in the Maltese income tax system which are relevant to the structuring of international transactions, including among others, the manner in which the non-resident person features in Maltese tax law, the Maltese systems of double taxation relief, the tax accounts, distributions of dividends, certain key statutory concepts, e.g. 鈥減articipating holding鈥� and 鈥渁dvance revenue rulings鈥�, taxation of collective investment schemes and investors therein, and trusts. Furthermore, a number of tax planning techniques will be examined and illustrated with particular emphasis on the taxation of domestically-based non-resident activity. The study-unit will also deal with certain key features of other Maltese taxes/ features which may be relevant for international tax planning purposes, e.g. VAT, duty on documents and transfers and permanent residence permit holders. (ii) International tax considerations: The role of double taxation conventions in attracting investment and in alleviating the imposition of double taxation will be considered and illustrated by reference to the OECD Model Convention and salient selected articles therefrom, as well as by various practical applications from Malta's treaty network. Salient international tax concepts will be discussed, as well as issues relative to international tax planning, tax havens and tax incentives, international anti-avoidance mechanisms and other tax provisions (such as salient EU direct tax directives) which are relevant in the context of structuring international transactions. Study-unit Aims: This study-unit aims to help students become conversant with the Maltese tax system and selected international and European tax instruments in the context of international transactions. To this effect, one of its objectives is to render students knowledgeable about the potential of taxation regimes to be used as a tool in the attraction of foreign direct investments (FDIs). In achieving this objective, the study unit introduces a number of themes related to ecosystems wherein taxation concepts which can be used to attract FDIs, e.g. tax optimisation and tax incentive legislation interrelate with anti-tax avoidance measures. Furthermore, this study-unit aims to instil ethical conduct in implementing international tax legislation, whether it is tax optimisation measures or anti- tax avoidance mechanisms. Learning Outcomes: This study-unit is aimed at achieving two broad objectives: (a) Demonstrating the importance of international tax issues in the structuring of cross-border investment, particularly investment in the financial services industries; (b) Providing a good background to international tax legislation, which whilst using Maltese statutory tax provisions as its backdrop, delves in some detail in creatures of international tax law such as double taxation treaties and EU direct tax directives which are of key relevance to investment in the financial services industries. By the end of the study-unit students would be expected to have a good grasp of the relevant international tax provisions and to be in a position to apply them in discussing relevant international tax issues as well as in solving international tax case studies and computations. Reading List: Selected Books including 1. Arnold Brian J & McIntyre Michael J, International Tax Primer, Kluwer Law International, 2002 2. Attard Robert, An Introduction to Income Tax Theory, Agenda, 2005 3. Baker Philip, Double Taxation Conventions: a manual on the OECD Model Tax Convention on Income and on Capital, Sweet & Maxwell, 2001 4. Ogley Adrian, The principles of International Tax: a multinational perspective, Interfisc Publishing, 1993 Selected Legislation including 5. The Income Tax Act (Chapter 123 of the Laws of Malta), the Income Tax Management Act (Chapter 372 of the Laws of Malta), the Duty on Documents and Transfers Act (Chapter 364 of the Laws of Malta), the Value Added Tax Act (Chapter 406 of the Laws of Malta) 6. OECD Model Tax Convention on Income and on Capital 1992 7. Selected EU direct tax directives, mainly the Council Directive of 23 July 1990 on the common system of taxation applicable in the case of parent companies and subsidiaries of different Member States (90/435/EEC as amended) and the Council Directive of 3 June 2003 on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States (2003/49/EC) 8. During lectures students will also be referred to selected University of Malta theses and various articles, academic papers and other relevant material. |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Bernard Attard Neville John Gatt (Co-ord.) Mark Lautier |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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