Legal forms of the family business. Specialties in taxing their income. Income allocation, supply of goods, services, or rights within the family group. Impact of entrepreneurs on special schemes in personal and corporate income taxes. Self-consumption of goods in the family business and the VAT. Taxation of the transfer of the family business. Onerous and lucrative transmissions of individual companies, corporations, shares in companies, and corporate assets. Business restructuring in the family business. Detailed examination of the system of tax incentives applicable under Spanish tax legislation (ISD, IAE, IBI).
This course enables students to acquire the knowledge and skills necessary for the practical application of the tax system related to the family business, achieving the necessary specialization in taxation in order to properly perform the professional exercise.
Competencies and learning outcomes
- Ability to analyze, select, and synthesize information and relevant legal and tax sources for resolving problems, forming action strategies, and advising clients.
- Capacity to fully handle all portions relating to the legal and tax field, nationally and internationally.
- Capacity to manage complex and varied data sets and other tax information.
- Ability to identify, interpret, and solve highly complex problems within the tax area.
- Capacity to know how to act in situations that can, at any moment, arise in various complex tax scenarios.
- Ability to argue with sound and reasoned criteria, when resolving tax problems advanced in nature.
- Capability of developing a reasoned critical sense about tax regulations and practices.
- Ability to integrate ethical and socially responsible behavior in professional activities.
- Capacity to work in professional and multidisciplinary teams effectively and efficiently, reproducing actual contexts and contributing and coordinating own knowledge with other branches of knowledge.
- Capability to make individual decisions and actively participate in collective decision-making.
- Capability of applying acquired tax knowledge and methodologies for resolving unforeseen situations in professional practice, foresee and minimize potential problems, and anticipate solutions in the field of tax advice.
- Ability to integrate and interrelate knowledge and confront the complexity of formulating judgments with incomplete or limited information on taxation.
- Capacity to communicate conclusions from professional advisory activities, as well as final reasons and rationale that support them, to specialized and non-specialized groups in a clear and unambiguous manner.
- Capacity to direct, follow and resolve any tax matter, achieving professional excellence in actions.
- Continuous learning capability that will allow for further study in an autonomous or self-directed manner.
- Demonstrate advanced theoretical and practical knowledge of the Spanish tax system, and the relationships existing between the taxes that comprise it.
- Capacity for resolving conflictive situations arising from the multitude of sources within the tax system (community, national, regional, and local) with professional excellence.
- Capability to advise skillfully on tax obligations about compliance with different formal duties deriving from the applications of taxes.
- Capability to dominate, from a professional standpoint, the different taxes that affect personal taxpaying of resident taxpayers/physical persons in Spain.
- Capability of achieving a high degree of specialization in applying taxes from economic activities developed by persons or entities on a national level.
- Capacity to evaluate the effect of tax incentives for a business and to select the most adequate business strategy for each case.
- Capability to advise taxpayers in a qualified manner regarding the most advantageous territorial locations for their personal and business assets from a taxation point of view.
- Ability to evaluate the tax burden on the company, taking into account not only the payment of taxes, but also all other indirect taxation costs.
Objectives (Learning outcomes)
- Students will be able to skilfully analyse the different types of taxation for the different types of family businesses and choose the best one according to the specific case of the business.
- Students will be able to apply the different taxes (national, autonomous and local taxes) applicable to the wealth of the company whether related to ownership, transfer or enjoyment.
- Students will be able to professionally solve any complex problem that may arise from the taxation of the profits from family businesses.
- Students will be able to design complex planning strategies for the transfer of family businesses, taking into account the different taxes that can be applicable to them.
- Students will be able to thoroughly asses the different taxation options that a family business can benefit from and suggest the most appropriate alternative for each case.
- Students will be able to interpret administrative doctrine, and national and international jurisprudence which is relevant to the case applying them to solve any controversial issue that arises from the taxation scheme of family businesses.
- Students will be able to offer expert consultancy in the process of restructuring of family businesses.
Methodology and grading
- Case studies: Learning through the analysis of actual or simulated cases in order to interpret and resolve them by employing various alternative solution procedures.
- Lecture: Pass on knowledge and activate cognitive processes in students, encouraging their participation.
- Solving exercises and problems: Exercise, test, and apply previous knowledge through routine repetition.
- The evaluation system of the course has a double order of items: A. continuous assessment and B. on site examination of the student, both aspects being weighted at 50% each:
A. 50% for continuous assessment of the student is obtained taking into account the following criteria assessment and weighting percentages and can thus assess the degree and process of acquiring the necessary knowledge students and the different skills and competencies required:
a) 30% of the grade will come from the completion of questionnaires and other case studies (views, simulation activities, etc.) made in the classroom teaching as well as their level of participation and interest shown in the contact sessions imparted.
b) The degree of participation of each student in seminars, workshops, public exhibitions and developed throughout the semester papers will be quantified at most by 20% of the continuous assessment mark.
B. In the one site examination, the student, using the current legal instruments and applying the acquired knowledge to study the subject, will respond to theoretical issues and practical cases that arise pertaining to the program of the respective course.