| CODE | CVL5037 | ||||||||
| TITLE | Fiscal Legislation Associated with Immovables 1 | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Civil Law | ||||||||
| DESCRIPTION | A detailed analysis of the Duty on Documents and Transfers Act is carried out in respect of the liability to tax (under the Duty on Documents and Transfers Act) (a) when immovable property is transferred inter vivos, and (b) when it immovable property devolves causa mortis (c) some implications relating to movable property where immovable property is involved in share transfers and trust scenarios. Students will carry out a detailed analysis of the legal provisions governing the tax liability under the Duty on Documents and Transfers Act, following the acquisition inter vivos and devolution causa mortis of immovable property and also the fiscal implications where immovable property is concerned in trust and company related scenarios. The accent shall be on the practical concrete application of the law Following a thorough examination of the parameters set by law these provisions are then applied to practical, concrete scenarios., with an emphasis on the actual mathematical workings of the law. Recurrent themes within the law shall be explored such as the exemptions related to residence, powers of the Inland Revenue Director, benefits, exemptions and rebates due to disabled persons/spouses/family members. The critical scrutiny leads to an evaluation of current fiscal policies associated with recurrent themes, such as the residential home. This study-unit is very relevant to those students who wish to practise as notaries, and accordingly intend to submit themselves for the examination leading to the warrant of notary public. Study-unit Aims: This study-unit aims to teach to the students Maltese Law related to Immovable Property from the point of view of Fiscal Law. The main provisions contained in the Duty on Documents and Transfers Act will be studied in detail. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: • Write on fiscal provisions governing tax liability, exemptions and deductions; • Discuss the way these provisions are applied in terms of law. 2. Skills: By the end of the study-unit the student will be able to: • Calculate the tax liability associated with transfers and transmissions of immovables property, under the Duty on Documents and Transfers Act; • Apply the methodologies contemplated in the law to new diverse, concrete scenarios. Main Text/s and any supplementary readings: Main Text: Indirect Taxation Manual – Duty on Documents and Transfers Act – Published 2013 published by the Malta Institute for Taxation Supplementary readings: - The Duty on Documents and Transfers Act (Cap 364), and some related subsidiary legislation – Appeals (Board of Special Commissioners for Duty on Documents and Transfers) Rules - SL364.05 – Duty on Documents and Transfers Rules - SL364.06 – Duty on Documents and Transfers Appeals Rules of Court -SL364.07 |
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| ADDITIONAL NOTES | Students taking this study-unit need to have a background in law. | ||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Marc Dimech Rebecca Janelle Wellman Daniel John Bugeja |
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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 2023/4. It may be subject to change in subsequent years. |
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