Bachelor of Commerce Honours in Taxation

Purpose

The purpose of the qualification is to provide learners in possession of a Bachelor of Commerce and who do not plan to qualify as Chartered Accountants with an alternative qualification that will enable them to practise as Taxation professionals in either the private or public sector. A learner attaining the Bachelor of Commerce Honours (BCom Hons) degree will be able to:

• Apply communicative and numerical skills as lifelong learners and researchers.
• Read academic and professional texts critically.
• Apply the skills of rational argument, judgement, planning, and decision-making analysis to taxation problems.
• Analyse, interpret and make decisions from data about taxation matters.

Rationale

The Bachelor of Commerce (Honours) aims to provide students with current thinking, principles and knowledge on taxation, thereby ensuring that they are prepared for the challenges of working at an advanced level in financial management sector with specifica emphasis on taxation.

It is the intention to produce analytical and research orientated practitioners for the workplace. The curriculum is designed with a strong research focus enabling students to apply acquired research knowledge and skills to their respective departments or organisations.

The degree is designed for people in the following fields

• Junior tax consultants handling tax compliance work.
• Legal officers dealing with tax compliance issues.

The graduates would be ideal for employment by the South African Revenue Services. Commercial organizations requiring accountants with expertise in taxation would find the combination of a Bachelor of Commerce (Accounting) and a Bachelor of Commerce (Taxation) Honours degree most effective.

Graduates wishing to pursue an academic career would progress from the Bachelor of Commerce (Taxation) Honours degree to a Masters in Commerce degree and later a PhD degree in Taxation. There is a desperate shortage in South Africa of tax academics who have doctorate degrees.

Bachelor of Commerce (Accounting) with Taxation at third year level.

Recognition of Prior Learning

As this is an honours degree, learners will require a first degree as a minimum before Recognition of Prior Learning can be considered. The normal entrance requirement is a Bachelor of Commerce (Accounting) degree with Taxation III. Prior learning that incorporates the knowledge area of the normal entrance requirements will be accepted upon submission and acceptance of a suitable portfolio of evidence.

Access to the Qualification

The entrance requirement is a Bachelor of Commerce (or similar) degree with a major in Taxation. A minimum mark of 60% is required for the under-graduate taxation course.

The qualification consists of the following components all of which are compulsory

• Taxation: 32 Credits.
• Theory of Taxation: 32 Credits.
• Introduction to research methods and design: 16 Credits.
• Research dissertation/thesis: 48 Credits.
• Total: 128 Credits.

1. Have a thorough understanding of the more complex tax issues and write opinions on tax problems.
2. Solve practical tax problems and calculate the normal tax liability.
3. Demonstrate an understanding of the research process.
4. Produce a well structured research dissertation paper is written.

Associated Assessment Criteria for Exit Level Outcome 1

• Court decisions are read and interpreted.
• A tax problem is identified and a solution found.
• Lucid arguments related to tax problems are structured.

The specialist areas to which this applies are

• Gross income.
• The general deduction formula.
• Tax evasion, tax avoidance and anti-avoidance and penalty measures.
• Tax planning.

Associated Assessment Criteria for Exit Level Outcome 2

• An integrated approach and with reference to the income tax legislation, relevant court decisions, regulations and interpretation notes are used to calculate normal tax liability of: > Individual tax payers. > Corporate tax payers. > Trusts and estates. > Other tax entities.
• The provisions relating to donations tax are understood and applied in calculating the donations tax liability of natural persons and persons other than natural persons.
• The principles relating to capital gains taxation are understood and applied to calculate the capital gains to be included in the taxable income of the various classes of taxpayers.
• The tax principles governing pre-payments of normal tax, including SITE, PAYE and provisional tax are understood and applied.
• The various withholding taxes provided for in the Income Tax Act, including the withholding of tax on royalty payments to non-residents, on the sale to non-residents of fixed property that is situated in South Africa and on the earnings of visiting sports persons and entertainers are understood and applied.
• The value added tax legislation, related case decisions, regulations, interpretation notes and principles are understood and and applied in calculating the value added tax liability or refund due to a vendor.
• The Estate Duty Act and its principles are understood and applied to calculate the estate duty liability of a deceased person.
• Basic tax planning advice is given based on an understanding of the impact of anti-tax avoidance measures on various types of transactions or schemes.
• The administrative provisions in all of the legislation impacting on taxation is understood.

Associated Assessment Criteria for Exit Level Outcome 3

• A basic literature survey and review is carried out.
• A simple research project is designed.
• A simple research proposal is written.

Associated Assessment Criteria for Exit Level Outcome 4

• Draft chapters of the dissertation essay are written and corrected to reflect supervision feedback.
• An appropriate referencing technique is used and a bibliography in the required format is produced.
• An academic writing style is used with clearly structured arguments.
• An abstract is written in the required form.

Integrated Assessment

Integrated assessment is fundamental in Taxation. Learners are expected to apply theory to applied taxation questions and research. Assessment of course work is done through a combination of formative test, assignments and tutorials. A number of group research tasks are done to assess knowledge of research methodology. The research thesis is assessed by an internal or an external examiner who is not the supervisor.