All Topics  
Tax law

 

 
   Email Print
   Bookmark   Link
 

 

Tax law
 
 
  Topics Tax law Topic Home

"Tax code" redirects here. For the term as used in the United Kingdom PAYE system, see Tax code (PAYE).
Tax law is the codified system of law
LAW

LAW may refer to:* Anti-tank warfare, e.g. the US Army M72 LAW or the British Army LAW 80*Palestinian Society for the Protection of Human Rights ...
s that describes government
Government

Government is the body within any organization that has the authority to make and the power to enforce laws, regulations, or rules. Typically, the government refers to a civil government -- local, provincial, or national -- but commercial, academic, religious, or other formal organizations are also administered by governing bodies....
 levies on economic transactions, commonly called tax
Tax

To tax is to impose a financial charge or other levy upon an individual or Legal person by a state or the functional equivalent of a state.Taxes are also imposed by many subnational entity....
es.
ary taxation issues facing the governments world over include;

a class="link1" onMouseover='showByLink("m1857",this)' onMouseout='hide("m1857")'href="http://www.absoluteastronomy.com/topics/Law_school">law school
Law school

A law school is an institution specializing in legal education....
s, "tax law" is a sub-discipline and area of specialist study.






Discussion
Ask a question about 'Tax law'
Start a new discussion about 'Tax law'
Answer questions from other users
Full Discussion Forum



Encyclopedia


"Tax code" redirects here. For the term as used in the United Kingdom PAYE system, see Tax code (PAYE).
Tax law is the codified system of law
LAW

LAW may refer to:* Anti-tank warfare, e.g. the US Army M72 LAW or the British Army LAW 80*Palestinian Society for the Protection of Human Rights ...
s that describes government
Government

Government is the body within any organization that has the authority to make and the power to enforce laws, regulations, or rules. Typically, the government refers to a civil government -- local, provincial, or national -- but commercial, academic, religious, or other formal organizations are also administered by governing bodies....
 levies on economic transactions, commonly called tax
Tax

To tax is to impose a financial charge or other levy upon an individual or Legal person by a state or the functional equivalent of a state.Taxes are also imposed by many subnational entity....
es.

Major issues

Primary taxation issues facing the governments world over include;
  • taxes on income
    Income tax

    An income tax is a tax levied on the financial income of people, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence....
     and wealth (or estates)
    Wealth tax

    A wealth tax is generally conceived as a direct tax on all household wealth holdings, including home; cash, bank deposits, money funds, and savings in insurance and pension; investment in real estate and Unincorporated entity; and stock, financial securities, and personal trusts....
  • taxation of capital gains
  • taxation of retirement pensions
    Retirement

    Retirement is the point where a person stops employment completely. A person may also semi-retire and keep some sort of retirement job, out of choice rather than necessity....
     and social security contributions
    Social security

    Social security primarily refers to a social insurance program providing social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment and others....
     etc.
  • inheritance tax
    Inheritance tax

    Inheritance tax, estate tax and death duty are the names given to various taxes which arise on the death of an individual. It is a tax on the estate, or total value of the money and property, of a person who has died....
    es
  • taxation of gift
    Gift

    A gift or a present is the transfer of something, without the need for compensation that is involved in trade. A gift is a voluntary act which does not require anything in return....
    s
  • consumption tax
    Consumption tax

    A consumption tax is a tax on spending on goods and services. The term refers to a system with a tax base of consumption. It usually takes the form of an indirect tax, such as a sales tax or value added tax....
    es (or sales tax
    Sales tax

    A sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax is usually set as a percentage by the government charging the tax....
    )
  • taxation of corporation
    Corporation

    A corporation is a legal entity separate from the persons that form it. It is a legal entity owned by individual stockholders. In British tradition it is the term designating a body corporate, where it can be either a corporation sole or a corporation aggregate ....
    s, LLCs
    Limited liability company

    A limited liability company in the law of the vast majority of United States jurisdictions is a legal form of business company that provides limited liability to its owners....
    , partnerships


Tax education from law schools

In law school
Law school

A law school is an institution specializing in legal education....
s, "tax law" is a sub-discipline and area of specialist study. Tax law specialists are often employed in consultative roles, and may also be involved in litigation. Many U.S. law schools
Law school in the United States

In the United States, a law school is an institution where students obtain a Professional degree Legal education in the United States after first obtaining an undergraduate degree ....
 require about 30 semester credit hours of required courses and approximately 60 hours or more of electives. Law students pick and choose available courses on which to focus before graduation with the J.D. degree
Juris Doctor

Juris Doctor is a first professional degree graduate degree and professional doctorate in law degree. The degree was first awarded by Harvard University in the United States in the late 19th century as a degree similar to the old European doctor of law degree and the legal studies counterpart to the M.D....
 in the United States. This freedom allows law students to take many tax courses such as federal taxation, estate and gift tax
Gift tax

A gift tax is a tax imposed on the Gift of ownership of property.When a taxable gift is made the tax is usually imposed on the donor unless there is a retention of an interest which delays completion of the gift....
, and estates and successions before completing the Juris Doctor
Juris Doctor

Juris Doctor is a first professional degree graduate degree and professional doctorate in law degree. The degree was first awarded by Harvard University in the United States in the late 19th century as a degree similar to the old European doctor of law degree and the legal studies counterpart to the M.D....
 and taking the bar exam in a particular U.S. state.

There are many fine LLM or Masters in Laws Graduate programs currently being offered in the United States, United Kingdom, Australia, Netherlands etc. Many of these programs offer the opportunity to focus on domestic and international taxation
International taxation

International taxation can mean several things* the study of the interaction of different countries' tax laws, as they affect individuals and companies with income and assets in more than one country...
. In the United States most LLM programs require that the candidate be a graduate of an American Bar Association
American Bar Association

The American Bar Association , founded August 21, 1878, is a voluntary association bar association of lawyers and law students, which is not specific to any jurisdiction in the United States....
-accredited
School accreditation

Educational accreditation is a type of quality assurance process under which services and operations of an educational institution or program are evaluated by an external body to determine if applicable standards are met....
 law school while a mere graduate law degree
Law degree

A Law degree is the degree conferred on someone who successfully completes studies in law. However many law degrees are insufficient education for a license to practice law by the administrative body of that jurisdiction....
 is a sufficient eligibility criterion in other countries for admission to LLM in Taxation law programmes.

Tax education from business school programs

There are hundreds of accredited business schools in the USA. Many are accredited by the AACSB or ACBSP or recognized by AAFM. These undergraduate or graduate programs may allow the student to major or graduate with a tax related degree such as a Masters in Taxation. Also, the undergraduate focus on accounting would allow a student to go the Certified Public Accountant
Certified Public Accountant

Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA....
 (CPA) track. After a student completes the individual state or jurisdictional requirements for accounting, the applicant may sit for the Uniform Certified Public Accountant Examination
Uniform Certified Public Accountant Examination

The Uniform Certified Public Accountant Examination is the examination administered to most people who wish to become Certified Public Accountants in the United States....
.

See also

  • Taxation in the United States
    Taxation in the United States

    Taxation in the United States is a complex system which may involve payment to at least four different levels of government and many methods of taxation....
  • Taxation in the United Kingdom
    Taxation in the United Kingdom

    Taxation in the United Kingdom may involve payments to a minimum of two different levels of government: The Her Majesty's Government and Local government in the United Kingdom....
  • Taxation in the Netherlands
    Taxation in the Netherlands

    The Netherlands has a rich history dealing with taxation, predating the Ancient Rome.Some of the most important taxes are that of the income tax , the Withholding_tax#Employment , the value added tax and the corporate tax ....
  • Taxation in Australia
    Taxation in Australia

    Personal income taxesThe federal government imposes income taxes on individuals, and this is the most significant source of revenue for this level of government....
  • Taxation in Canada
    Taxation in Canada

    The level of Taxation in Canada is average among Organisation for Economic Co-operation and Development countries. Approximately 70% of the Canadian government's income comes from taxation, the rest from tariffs, fees, and investments....
  • Taxation in China
  • Taxation in France
    Taxation in France

    Taxation in France is determined by the yearly budget vote by the French Parliament, which determines which kinds of taxes can be levied and which rates can be applied....
  • Taxation in Germany
    Taxation in Germany

    Taxes in Germany?being a Federation?are levied by the federation , the States of Germany as well as the Municipality . Many direct and indirect taxes exist, whereof income tax and Value added tax are the most relevant....
  • Taxation in India
    Taxation in India

    Taxes in India are levied by the Government of India and the States of India Governments. Some minor taxes are also levied by the local authorities such the Municipality or the Local Council....
  • Taxation in Colombia
    Taxation in Colombia

    Taxation in Colombia is determined by the Congress of Colombia, the Departments of Colombia Assemblies and the Municipalities of Colombia councils, which determine what kind of taxes can be levied and which rates can be applied....