Duration
24h Th
Number of credits
| Master in economics : general (120 ECTS) | 5 crédits | |||
| Master in management (120 ECTS) | 5 crédits |
Lecturer
Language(s) of instruction
French language
Organisation and examination
Teaching in the first semester, review in January
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
1. Scope.
This course aims to introduce students to the legislation and tax regimes of banks and insurance companies, with a view to approaching the legal problems which these institutions face on the one hand and the taxation on their products on the other. Analysis of these products will cover tax aspects of saving and investment products, but also certain hybrid products.
2. Contents.
a. Distinction debt vs. equity. Analysis of certain hybrid products issued by financial institutions.
b. The banking world. (i) banking products for individuals. Interest, dividends, capital gain and group investments. (ii) Banking products for companies. (iii) Tax regime of investment funds.
c. The world of insurance. Introduction. (i) Life insurance and income tax. (i) Life insurance and inheritance law. (iii) The success of Luxembourg life insurances linked to individual funds
d. The end the banking secrecy and the automatic exchange of information. Money laundering.
Learning outcomes of the learning unit
By the end of the course, students should be able to:
- Demonstrate that they are familiar with concepts relating to the banking and insurance world, such as: money laundering; compliance; the automatic exchange of information (CRS). Describe the taxation regime of a savings or investment product (shares and investment bonds, mutual funds, pension plans, life insurance, insurance bonds etc.) or certain hybrid instruments (bonds convertible into shares).
- Identify the problem described in a case, find the legal rules or regulations which are applicable and justify their application;
- Help a third party choose a savings or investment product with full knowledge of the taxation regime.
Prerequisite knowledge and skills
Course in tax law from the 3rd year of the Baccalaureat in Belgian and international tax law from the 1st year of the Masters.
Planned learning activities and teaching methods
Mode of delivery (face-to-face ; distance-learning)
1. Methodology used
- A1 Theoretical presentation illustrated with examples and practical cases.
- A3 Casework resolution
2. General course planning Oral examination
3. Distribution of student workload.
4 ECTS x 24 hours TE = 96 hours - 24 hours of in-class lessons
- 30 hours of course study and understanding the subject
- 18 hours of reading, casework resolution and on-line exercises.
Recommended or required readings
Text of Powerpoint slides on-line.
Assessment methods and criteria
E1/E3 Reproduction of concepts, principles, regulations and the ability to explain them and to identify them in a case. E3 Casework resolution, justification of the tax rules being applied.
Students will be assessed on their mastery of concepts and principles and their ability to construct a reasoned and coherent argument respecting the hierarchy of norms and legal principles.
Oral examination both in the first and second sessions (and in the second extended session). In the first session: during the week following the end of the course (organised in modules in September and October).
This course exempts students from the course on Taxation of savings and insurance in the Complementary Masters in Taxation law. Students have to choose, however a replacement course of the same length.
Relative weight of individual assessment: 100%