Prospectus - ACCA

22 Pages·2013·0.53 MB·English

Prospectus
The Advanced Diploma in
International Taxation 2014
Contents
Introduction 3
Registration as a Diploma candidate 4
The Diploma entry procedure – examinations and thesis 5
Dates, centres and fees 5
Withdrawal from the examination 6
The papers 7
Format 7
Sitting ADIT papers 7
Thesis option 10
Resources 10
Examination results 11
Prizes 11
Certificates 11
Affiliates 11
Further information 12
Permitted texts and calculators 12
Permitted text regulations 14

Courses of study 15
Courses specific to ADIT 15
Relevant courses not specific to ADIT 17
University courses 18
About the CIOT 21
The syllabus, suggested reading and guidance notes for the writing of a thesis
are available as a separate publication.
2
Introduction
Advanced Diploma in achieving recognition of the Diploma by leading
International Taxation – ADIT authorities in tax around the world.
International tax is an important part of the The Diploma is supervised by an Academic
work of many tax advisers. However, a key Board of distinguished international tax
characteristic of international advisers is that practitioners.
they have a variety of backgrounds and typically
spend time in more than one country. Holders of the Diploma are entitled to use the
designatory letters “ADIT” after their name.
This unique, specialist Diploma meets the
needs of international tax practitioners in the The Diploma is a free-standing qualification
corporate area. which will not give the right to membership of
the Chartered Institute of Taxation. However,
ADIT is awarded and administered by the holders of the Diploma may apply to become
Chartered Institute of Taxation (CIOT), the an ‘International Tax Affiliate of the Chartered
leading professional body in the United Institute of Taxation’. This ongoing link with
Kingdom concerned solely with taxation (see the CIOT will entitle the individual to receive a
page 21). Applicants for ADIT are welcomed number of benefits, including:
from all parts of the world, and residence in
the UK is not necessary in order to achieve the • the right to describe oneself as an
qualification. ADIT has been pursued in over ‘International Tax Affiliate of The
90 countries and in every continent around the Chartered Institute of Taxation’
world. The Institute considers that there are • the right to apply to become a
significant benefits in having an internationally virtual member of the CIOT Technical
recognised Diploma. The Diploma indicates Committee’s various Sub-Committees
a high level of competence in international • provision of the monthly journal Tax
taxation, and a successful candidate will be able Adviser, which includes technical articles,
to demonstrate knowledge in three areas: current tax notes, digests of tax cases and
news from the Institute
• the principles of international taxation • the right to contribute articles to Tax
• in-depth knowledge of international tax Adviser
issues for their primary jurisdiction • networking opportunities through our
• an awareness of basic tax issues, global branches including Asia Pac,
particularly in relation to international tax, Australasia, Europe, Hong Kong, North
in at least one secondary jurisdiction or America and the UK
subject. • a framework of ethical standards and
practice guidelines
It is possible to substitute a thesis for one • CPD opportunities
examination paper (see page 10). • use of the Institute’s Tony Arnold Library at
King’s College, London.
The overall standard of the Diploma is
broadly comparable to the CTA in the UK. A These benefits are subject to compliance with
key goal is to make this a truly international the Institute’s terms and conditions.
qualification. As this vision is realised, advisers
moving from one country to another will Diploma holders will be awarded a credit (on
have a common qualification as an important application) for the Advanced Corporation Tax
credential. The Institute is working towards Advisory Paper of the CIOT’s Chartered Tax
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Adviser examination, providing the Paper II
UK Option was completed during their ADIT
studies. The credit will be valid for five sittings
following the candidate’s first sitting of a CTA
written tax paper.
Registration as a Diploma Candidate
The only pre-condition for registration is the registration will be valid for five years.
possession of an email address. Applicants
are welcomed from all parts of the world, and The Diploma Committee reserves the right to
residence in the UK is not necessary in order to refuse or cancel any application for registration
register. as a student without assigning any reason to
the refusal or cancellation.
Candidates are strongly encouraged to register
an interest in sitting a Diploma paper five Candidates should visit the website at
months prior to the first examination they wish www.adit.org.uk and register online, or
to sit. They can then be contacted via email download the relevant forms, or contact the
with pertinent information. Education Team at the Chartered Institute of
Taxation as below.
Candidates should aim to be registered by 30
November if they wish to sit an examination The website also contains up-to-date
the following June (and 31 May if they wish to information on ADIT course providers.
sit an exam the following December), although
registration will remain possible up to the end Education Team
of January for June exam candidates and the The Chartered Institute of Taxation
end of July for December exam candidates. 1st Floor, Artillery House
Entry for the examination itself is a separate 11-19 Artillery Row
procedure. London
SW1P 1RT
An application for registration must be T: [phone]
submitted with a fee of £180. Diploma
4
The Diploma Entry Procedure – Examinations and Thesis
Dates, Centres and Fees will be 8 September 2014. Examination entry
can be made online via the ADIT website, or
To provide greater flexibility to ADIT candidates an examination form can be sent via post.
around the world, an increased number of Examination forms are available to download
examination centres will be available for the from the website. Employers registering and
June 2014 ADIT exam session. Centres in the paying for several employees should contact
most popular ADIT locations are designated as the Education Team in advance.
regular exam centres, for which all exam centre
fees will continue to be included in the ADIT All examination entries are normally
examination fee. In addition, a range of special acknowledged via email, within ten working
exam centres will be provided to candidates days. Candidates should email or telephone if
wishing to sit in locations where there are fewer this is not received.
ADIT candidates. Candidates entering to sit ADIT
exams at a special exam centre will need to pay The Institute does strive to provide the
an additional fee directly to the centre. best possible exam conditions for its
students. However, the Institute cannot take
Regular exam centres are available in June 2014 responsibility for circumstances or events
in the following countries: Australia, Brazil, outside its control which occur at exam venues
Cyprus, Greece, Hong Kong, India (Chennai and during the period of the exams, for example
Mumbai), Ireland, Kenya, Malta, Mauritius, external noise, climate conditions, industrial
Pakistan, Romania, Singapore, Switzerland, the action affecting travel, etc.
UAE, the UK, and the USA (New York).
Entry forms arriving after the closing date
Special exam centres are available in June 2014 cannot be guaranteed, and will be subject to a
in the following countries: Azerbaijan, Bulgaria, late fee. The fee for the 2014 examinations will
China, Croatia, Egypt, India (Delhi), Indonesia, be £165 per paper.
Kazakhstan, Kuwait, Netherlands, Nigeria,
Russia, South Africa, Spain, Uganda, Ukraine, The thesis registration fee is £165. This fee
the USA (Houston), Vietnam and Zambia. is only charged upon approval of the thesis
application and proposal. A proposal form for
Candidates wishing to sit June 2014 ADIT exams the thesis may be submitted at any time.
in a location not listed above should contact
the Education Team, or indicate their preferred
exam location, no later than 31 December
2013. Any new exam centre requests received
after 31 December 2013 will unfortunately be
rejected.
More information about ADIT exam centres can
be found on the website at
www.adit.org.uk/examcentres
It is the responsibility of candidates to enter
for ADIT examinations. The last date for receipt
of June 2014 examination entries (the closing
date) will be 28 February 2014. For December
2014 examination entries, the closing date
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2014 Exam Dates Withdrawal from Diploma
Examinations
Exams for the June 2014 exam session will take
place on the following dates: Examination fees are not refundable.
Candidates who withdraw from the examination
10 June 2014 after the closing date forfeit one half of the
Paper I entry fee, provided that written notification
is given no later than 14 days before the first
11 June 2014 examination of the session (i.e. Tuesday 27
Paper II May 2014 for June 2014 exam withdrawals, and
• A – United Kingdom Option Tuesday 25 November 2014 for December 2014
• B – United States Option exam withdrawals). After that time the full fee
• C – Hong Kong Option is forfeited. Any unforfeited amount is carried
• D – Singapore Option forward towards the fee payable for the next
• E – Malta Option examination session only.
• F – Australia Option
• G – India Option
• H – Ireland Option
• J - Cyprus Option
12 June 2014
Paper III
• A – United States Option
• B – European Union Option
• D – China Option
• F – Transfer Pricing Option
Exams for the December 2014 exam session will
take place on the following dates:
9 December 2014
Paper I
10 December 2014
Paper IIA – United Kingdom
11 December 2014
Paper III
• B – European Union Option
• F – Transfer Pricing Option
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The Papers
Format Sitting ADIT papers
The Diploma is assessed in modular form and is Each examination taking place during the June
awarded when all stages have been completed. 2014 ADIT exam session can be sat either as
If candidates pass any of the ADIT papers, these a traditional, handwritten exam or as a typed
passes will remain valid for the next five years. exam, using our on-screen exam system.
If the entire qualification is not completed
within five years then candidates may re- If you wish to sit an ADIT examination using the
register as ADIT students but will have to take on-screen exam system in June 2014, you will
and pass any papers which were passed more need to select this option at the time of your
than five years previously. However, all papers examination entry. You will be required to install
may be sat at one sitting over three days. There the on-screen exam software onto a laptop
will be an element of choice in most papers. device in advance, and bring your device to the
examination hall on the day of the examination.
The Diploma consists of three papers, although
a thesis may be completed in lieu of either Examinations taking place during the December
Paper II or Paper III (but not both). Further 2014 exam session are available as on-
details can be found on page 10. screen exams only. If you wish to sit an ADIT
examination in December 2014, you will need
Paper II is designed to test candidates’ to install the on-screen exam software onto
detailed knowledge of a primary jurisdiction. your device in advance, and bring your device
Because an international tax practitioner to the examination hall on the day of the
needs to understand more than one country’s examination.
tax system, Paper III is designed to test an
awareness of basic tax issues, particularly in Full information on on-screen ADIT
relation to corporate tax and international tax, examinations can be found on the website at
in at least one secondary jurisdiction or area www.adit.org.uk/onscreen
of taxation. Accordingly, candidates for the
ADIT will be required to pass Papers II and III by
relating to different countries or jurisdictions.
For example, a candidate who completes the
United States Option for Paper II will need to
select a different jurisdiction for Paper III.
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Paper I – Principles of tax, federal gift tax and state and local taxes.
International Taxation Please see the Syllabus for full details.
3 hours plus 15 minutes reading time This examination is currently offered in the June
This paper is not country-specific, but focuses ADIT exam session.
on key issues such as Principles of International
Tax Law, Residence, Double Taxation C – Hong Kong Option
Conventions and Treaty interpretation, transfer This paper covers the Hong Kong income tax
pricing, the work of the OECD and international system as it affects individuals and corporate
tax avoidance. Please see the Syllabus for full businesses, with particular emphasis
details. on international trading, and includes
various special categories of taxpayer, tax
This examination is currently offered in the June administration, double tax relief and tax
and December ADIT exam sessions. planning. It also covers the Hong Kong stamp
duty. Please see the Syllabus for full details.
Candidates who pass this examination are
eligible to apply for a certificate. Please see This examination is currently offered in the June
page 11 for more information. ADIT exam session.
Paper II – Advanced International D – Singapore Option
Taxation – Primary jurisdiction This paper covers the main income taxation
issues typically encountered by global
3 hours plus 15 minutes reading time businesses operating in a territorial-based
Candidates are expected to have detailed taxation economy that is highly dependent on
knowledge of a primary country’s tax regime international trade. The topics serve to highlight
regarding international tax matters. tax planning opportunities in cross border
activities. GST planning is being seen as a vital
Available in the following options: tool in shaping corporate competitiveness as
the state increases its dependence on it as a
A – United Kingdom Option stable source of tax revenue. Please see the
This paper covers areas such as UK CFC Syllabus for full details.
legislation, double tax relief, thin capitalisation,
reorganisations, transfer pricing, application This examination is currently offered in the June
of corporation tax to cross-border situations ADIT exam session.
and anti-avoidance provisions. Please see the
Syllabus for full details. E – Malta Option
This paper covers the structure of the Maltese
This examination is currently offered in the June tax system with particular emphasis on Income
and December ADIT exam sessions. Tax, Income Tax from Capital Gains, Property
Transfer Tax, Duty on Documents and Transfers
B – United States Option and VAT. Please see the Syllabus for full details.
This paper covers in detail the federal income
tax, with particular emphasis on in-bound This examination is currently offered in the June
and out-bound cross-border situations, US ADIT exam session.
tax treaties, transfer pricing and cross border
mergers and acquisitions. It also includes basic F – Australia Option
rules and cross-border issues on federal estate This paper covers the structure of the Australian
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tax system with particular emphasis on Income Paper III – Principles of Corporate
Tax, Fringe Benefits Tax and Goods and Services and International Taxation –
Tax. Please see the Syllabus for full details. Secondary jurisdiction
This examination is currently offered in the June 3 hours plus 15 minutes reading time
ADIT exam session. Candidates are expected to be aware of the key
features of the corporate tax system and be
G – India Option able to answer questions on international tax
This paper covers the structure of the Indian in relation to a secondary jurisdiction, without
taxation system with particular emphasis on being expected to offer detailed advice on that
income tax (including Income Tax on Capital country’s tax system.
Gains) and wealth tax including: Tax jurisdiction
(including territoriality), Taxation of individuals, Available in the following options:
Taxation of companies, Tax planning, Use of tax
treaties, Tax procedures, Withholding taxes, and A – United States Option
Tax administration. Please see the Syllabus for This paper covers the structure of the US
full details. tax system, overview of federal income tax,
inbound investment, outbound investment,
This examination is currently offered in the June transfer pricing, anti-avoidance and
ADIT exam session. partnerships. Please see the Syllabus for full
details.
H – Ireland Option
This paper covers the personal, corporate and This examination is currently offered in the June
indirect taxes in an international context. It ADIT exam session.
also covers double tax relief, reorganisations,
transfer pricing, cross border issues and anti- B – European Union Option
avoidance. Please see the Syllabus for full This paper examines the impact of European
details. Union Law on all aspects of taxation for all
Member States. The paper includes the
This examination is currently offered in the June background to Union Law in the Treaties, and
ADIT exam session. the role of the various Union institutions.
Please see the Syllabus for full details.
J – Cyprus Option
This paper covers the structure of the This examination is currently offered in the June
Cypriot tax system, with emphasis on Income and December ADIT exam sessions.
Tax, sources of income, Special Defence
Contribution, Capital Gains Tax, Immovable D – China Option
Property Tax, Collection and Assessment Tax, This paper covers the structure of the Chinese
Trusts, Land Transfer Fees, Stamp Duty and VAT. tax system with particular emphasis on
Please see the Syllabus for full details. Individual Income Tax, Enterprise Income Tax
and inbound and outbound investment taxes.
This examination is currently offered in the June Please see the Syllabus for full details.
ADIT exam session.
This examination is currently offered in the June
ADIT exam session.
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F – Transfer Pricing Option Resources
This paper covers the fundamentals of transfer
pricing based on the OECD model. The All ADIT students are advised to refer to past
paper will focus on transfer pricing methods, papers, suggested answers and Examiners’
the arm’s length principle, comparability, reports for each exam selected, as these can
compliance issues and avoiding double taxation be used to provide an idea of the types of
and dispute resolution. Please see the Syllabus questions to be answered in an ADIT exam, and
for full details. the standard of answer required.
This examination is currently offered in the June Past papers, suggested answers and Examiners’
and December ADIT exam sessions. reports for previous ADIT exams can be
accessed from the ‘Current Students’ page of
Candidates who pass this examination are the ADIT website:
eligible to apply for a certificate. Please see www.tax.org.uk/adit/Current+Students
page 11 for more information.
In addition, the following resources are
Thesis Option (Paper II/Paper III) available to all ADIT students, Graduates and
Affiliates to assist with study towards the
Candidates have the option of writing a thesis exams, research towards an ADIT thesis, or any
as an alternative to either (but not both other research or professional development:
of) Paper II or Paper III. The thesis’ primary
jurisdiction must differ from that of the exam CIOT Library
selected by the candidate for the remaining The Tony Arnold Library is housed as part of the
Option Paper. law collection of King’s College London, located
on Chancery Lane in central London. For further
The thesis must be between 15,000 and 20,000 information please visit the Tony Arnold Tax
words and must focus on international taxation. Library webpage at:
www.tax.org.uk/members/member-services/
If a candidate wishes to submit a thesis instead library
of Paper II, the topic of the thesis should relate
to some aspect of international tax primarily IBFD Library
concerning the candidate’s primary jurisdiction. The IBFD offer a comprehensive and
inexpensive public library service. For more
If a candidate wishes to submit a thesis instead information please visit the IBFD Library
of Paper III, the topic of the thesis should website at:
relate to some aspect of international tax as www.ibfd.org/Library
it primarily affects a secondary jurisdiction or
transnational grouping such as the EU. ATAX (University of New South Wales) Library
The UNSW Library offers an extensive catalogue
Prior to commencing work on a thesis, and various research services. Please visit the
candidates must have a thesis proposal form UNSW Library website for more information, at:
approved. The thesis must be submitted within www.library.unsw.edu.au
three years of approval being given.
Full guidance notes are included in the Syllabus
publication.
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