HOME

TheInfoList



OR:

Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect
tax A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax co ...
es in a legal context. The rates and merits of the various taxes, imposed by the authorities, are attained via the political process inherent in these bodies of power, and not directly attributable to the actual domain of tax law itself. Tax law is part of public law. It covers the application of existing tax laws on individuals, entities and corporations, in areas where tax revenue is derived or levied, e.g. income tax, estate tax, business tax, employment/payroll tax, property tax, gift tax and exports/imports tax. There have been some arguments that
consumer law Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Consumer protection measures are often established by law. Such laws are intended to prevent businesse ...
is a better way to engage in large-scale redistribution than tax law because it does not necessitate legislation and can be more efficient, given the complexities of tax law.


Major issues

Primary taxation issues differ among various countries, although similarities might exist.


Developed countries

* Taxes can fail to raise sufficient revenue to cover government spending. * Taxes are generally complex and can be viewed as benefitting high income earners more than they do to lower income earners (in the payment of relatively less tax). * Tax evasion and avoidance occur, leading to reduced government revenue. * Taxes can produce poor desired outcomes (lower productivity and provide less incentive for businesses to grow). * Taxes can curb economic growth through inefficiency, e.g. corporate taxes/hurdles that could impede smaller entities to grow. * Taxation can be viewed as disproportionate, as in the case of the taxation of
capital gain Capital gain is an economic concept defined as the profit earned on the sale of an asset which has increased in value over the holding period. An asset may include tangible property, a car, a business, or intangible property such as shares. ...
s versus labor income, in which investors generally pay less tax on investment income vs workers who proportionally pay more on their wages. * Taxes can remain questionable in achieving desired goals, such the
Ecotax An environmental tax, ecotax (short for ecological taxation), or green tax is a tax levied on activities which are considered to be harmful to the environment and is intended to promote environmentally friendly alternatives via economic incentive ...
which is primarily intended to promote environmentally friendly activities via economic incentives. * Definitions of tax law can be confusing to laypeople and even attorneys who specialize in other areas of law.


Developing countries

* Taxes in developing economies can be hard to standardize since most workers work in small, and often unregulated enterprises. * Tax systems without sound establishments and competent administration to run and manage them can be burdensome and inefficient. * Tax systems without reliable data are hard to regulate and change. * Tax systems tend to have the rich bear a heavier burden of taxation.


Education


Australia

Tax law education is a specialisation of accountants, tax agents, and lawyers. Accountants are required by either CPA Australia to complete a course in law of taxation and law of financial services. There is a legal obligation to complete taxation law and commercial law for registration as a tax agent with the Tax Practitioner's Board. Law students are not typically required to complete a unit in tax law, but may opt to take it as an elective in Australian universities.


Pertaining to the US


Pre-requisites

* completion of a bachelor's degree - students contemplating tax law might have to consider majoring in economics, accounting or finance. * sitting for Law School Admission Test (LSAT).


Law school

* In law school, the students take foundational courses from "constitutional law to civil procedures." * At this level, law students can take more specialized courses in taxation, such as "limited partnerships and income taxes, business liquidations and acquisitions." * Upon completion, the law students graduate with a Juris Doctor (J.D.) degree—which is sufficient for admission to an LL.M. in Taxation.


Post law school

* JD graduates may then enroll in a Master of Laws in Taxation (LL.M.), a one-year program. Other concentrations available to students include: estate planning or business taxation. * The Bar exam.


Pertaining to other countries


Post law school

* JD graduates enroll in a
Master of Laws A Master of Laws (M.L. or LL.M.; Latin: ' or ') is a postgraduate academic degree, pursued by those either holding an undergraduate academic law degree, a professional law degree, or an undergraduate degree in another subject. In many jurisdi ...
(LL.M) program, as is seen in Canada, United Kingdom, Australia, and the Netherlands.


=General requirements

= * A bachelor's degree - required for entry into law school. * Law School Admission Test (LSAT) - Required for law school admission in United States, Canada and a growing number of countries. J.D. (Juris Doctor) or First degree in law. * The Juris Doctor (JD) program is offered by only a number of countries. These include: United States, Australia, Canada, Hong Kong, Japan, Philippines, Singapore and the United Kingdom. The courses vary in duration of years, curriculum and whether or not further training is required, depending on which country the program is in.


= In Africa

= Most African countries use the British legal education curriculum in their law educational system to train lawyers. Overall, legal education, across African countries, starts at the university level as an undergraduate course although a few universities have promulgated a law degree as a graduate program "akin to
hat A hat is a Headgear, head covering which is worn for various reasons, including protection against weather conditions, ceremonial reasons such as university graduation, religious reasons, safety, or as a fashion accessory. Hats which incorpor ...
… in the United States, Canada, and India." In most African countries, a law degree does not necessarily qualify one to practice as a lawyer. Further post-graduate practical training is required. Graduates earn an undergraduate law degree, viz. the Bachelor of Laws (LL.B.), via a four-year program (as in Malawi, Kenya, Zambia, and most of South African law universities). Subsequently, graduates with the
Bachelor of Laws A Bachelor of Laws (; LLB) is an undergraduate law degree offered in most common law countries as the primary law degree and serves as the first professional qualification for legal practitioners. This degree requires the study of core legal subje ...
seek to earn the
Master of Laws A Master of Laws (M.L. or LL.M.; Latin: ' or ') is a postgraduate academic degree, pursued by those either holding an undergraduate academic law degree, a professional law degree, or an undergraduate degree in another subject. In many jurisdi ...
or greater in order to become practitioners of the law. Some law institutions offer tracks to a Master of Philosophy (M.Phil.), a Doctor of Philosophy degree (Ph.D.), or a Doctor of Laws degree (LL.D.) with emphasis on tax law. A list of tax faculty ranked by publication downloads is maintained by Paul Caron at TaxProf Blog.


Taxation by jurisdiction

;Africa * Taxation in South Africa * Taxation in Tanzania ;Americas *
Taxation in Argentina Due to the absence of the tax code in Argentina, the tax regulation takes place in accordance with separate laws, which, in turn, are supplemented by provisions of normative acts adopted by the executive authorities. The powers of the executive a ...
*
Taxation in Canada In Canada, taxation is a prerogative shared between the federal government and the various provincial and territorial legislatures. Legislation Under the ''Constitution Act, 1867'', taxation powers are vested in the Parliament of Canada under s ...
* Taxation in Colombia *
Taxation in the British Virgin Islands Taxation in the British Virgin Islands is relatively simple by comparative standards; photocopies of all of the tax laws of the British Virgin Islands (BVI) would together amount to about 200 pages of paper. Among the items in the British Vir ...
* Taxation in Peru *
Taxation in the United States The United States has separate Federal government of the United States, federal, U.S. state, state, and Local government in the United States, local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, ...
;Asia * Taxation in China (*
Taxation in the People's Republic of China Taxes provide the most important revenue source for the Government of the People's Republic of China. Value-added tax (VAT) produces the largest share of tax revenue in China and corporate income tax producing the next largest share. Tax is a k ...
) *
Taxation in India Taxes in India are levied by the Government of India, Central Government and the State governments of India, State Governments by virtue of powers conferred to them from the Constitution of India. Some minor taxes are also levied by the local a ...
*
Taxation in Iran Taxation in Iran is levied and collected by the Iranian National Tax Administration under the Ministry of Finance and Economic Affairs of the Government of Iran. In 2008, about 55% of the government's budget came from oil and natural gas reve ...
* Taxation in the Palestinian territories ;Europe *
Taxation in the European Union The European Union value-added tax (or EU VAT) is a value added tax on Good (economics), goods and services within the European Union (EU). The EU's institutions do not collect the tax, but member states of the European Union, EU member states ...
*
Taxation in Azerbaijan The tax legislation of Azerbaijan is comprised by the Constitution of Azerbaijan Republic, the Tax Code and legal standards which are adopted herewith. The taxes levied in Azerbaijan can be generally broken down into 3 main types: state taxes, t ...
*
Taxation in Bulgaria Taxes in Bulgaria are collected on both state and local levels. The most important taxes are collected on state level, these taxes include income tax, social security, corporate taxes and value added tax. On the local level, property taxes as we ...
*
Taxation in France In France, taxation 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. Overview Taxation in France covers all taxes, duties, fees, contribution ...
*
Taxation in Germany Taxes in Germany are levied at various government levels: the federal government, the 16 states ('' Länder''), and numerous municipalities ('' Städte/Gemeinden''). The structured tax system has evolved significantly, since the reunification o ...
*
Taxation in the Republic of Ireland Taxation in Ireland in 2017 came from Personal Income taxes (40% of Exchequer Tax Revenues, or ETR), and Consumption taxes, being VAT (27% of ETR) and Excise and Customs duties (12% of ETR). Corporation taxes (16% of ETR) represents most o ...
*
Taxation in the Netherlands Taxation in the Netherlands is defined by the income tax (Wet op de inkomstenbelasting 2001), the Withholding tax, wage withholding tax (:nl:Wet op de loonbelasting 1964, Wet op de loonbelasting 1964), the value added tax (:nl:Wet op de omzetbel ...
*
Taxation in Poland Taxes in Poland are levied by both the central and local governments. Tax revenue in Poland is 33.9% of the country's GDP in 2017. The most important revenue sources include the income tax, Social Security Welfare spending is a type of govern ...
*
Taxation in Portugal Taxes in Portugal are levied by both the national and regional governments of Portugal. Tax revenue in Portugal stood at 34.9% of GDP in 2018. The most important revenue sources include the income tax, social security contributions, corporate tax ...
*
Taxation in Russia The tax system of the Russian Federation ( ) is a complex of relationships between fiscal authorities and taxpayers in the field of all existing taxes and fees. It implies continuous communication of all its members and related objects: payers; le ...
*
Taxes in Spain Taxes in Spain are levied by national (central), regional and local governments. Tax revenue in Spain stood at 36.3% of GDP in 2013. A wide range of taxes are levied on different sources, the most important ones being income tax, Social securit ...
*
Taxation in the United Kingdom In the United Kingdom, taxation may involve payments to at least three different levels of government: Government of the United Kingdom, central government (HM Revenue and Customs), Devolution in the United Kingdom, devolved governments and Loc ...
;Oceania *
Taxation in Australia Income taxes are the most significant form of taxation in Australia, and collected by the federal government through the Australian Taxation Office (ATO). Australian GST revenue is collected by the Federal government, and then paid to the sta ...
* Taxation in New Zealand


See also

*
Corporate law Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corpora ...
*
Corporate tax A corporate tax, also called corporation tax or company tax or corporate income tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but ...


References


External links

* {{DEFAULTSORT:Tax Law Public law Taxation-related lists