PUBLIC FINANCE - ADVANCED COURSE

Teaching in italian
PUBLIC FINANCE - ADVANCED COURSE
Teaching
PUBLIC FINANCE - ADVANCED COURSE
Subject area
SECS-P/03
Reference degree course
Economics Finance and Insurance
Course type
Master's Degree
Credits
6.0
Teaching hours
Frontal Hours: 48.0
Academic year
2016/2017
Year taught
2017/2018
Course year
2
Language
ENGLISH
Curriculum
CURRICULUM FINANZA E ASSICURAZIONI
Reference professor for teaching
ARACHI Giampaolo
Location
Lecce

Teaching description

Principles of microeconomics

The aim of the course is to give students a comprehensive view of the problems related to the taxation of capital income. The taxation of capital will be studied from two different perspectives: from the Treasury’s perspective, which aims at collecting revenue in an efficient and equitable way, and from the taxpayer’s perspective, which tries to minimize the burden of taxes.
Students will develop a foundation for understanding the effects of taxes on consumers’ and firms’ choices, and for evaluating the ensuing impact on market outcome. They will also be able to understand the basic tax planning strategies both in domestic and international markets.

Compulsory written exam (multiple choices, exercises and open questions) and optional complementary oral exam

1 Introduction:
- Main features of the tax systems in industrialized countries
2 Effects of taxes on consumers choices:
- Effects of taxes on savings and risk taking
3 Effects of taxes on firms’ financial choices
- Modigliani-Miller proposition and corporate taxes
- The role of personal taxes: the Miller equilibrium
- Non-debt tax shields and marginal effective tax rates.
4 Taxes and dividend policy
- Implicit taxes
- Static tax clienteles
- Dynamic tax clienteles
5 Effect of taxes on investment
- Effective taxes on investment: the King-Fullerton approach
- Neutral taxes: cash-flow tax, Allowance for Corporate Equity.
6 Introduction to tax-planning
- Main tax planning strategies
- Limits to tax planning
- Tax planning of MNE: base erosion and profit shifting

There is no required textbook for the course. Lectures notes and course material will be posted at http://formazioneonline.unisalento.it

Semester
First Semester (dal 18/09/2017 al 31/12/2017)

Exam type
Compulsory

Type of assessment
Oral - Final grade

Course timetable
https://easyroom.unisalento.it/Orario

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