Tax law

Public finance
This article is part of the series: Finance and Taxation
Taxation
Income tax · Payroll tax CGT · Stamp duty · LVT Sales tax · VAT · Flat tax Tax, tariff and trade Tax haven · Property tax
Tax incidence
Tax rate · Proportional tax Progressive tax · Regressive tax Tax advantage · Fixed tax Excess burden of taxation
Taxation by country Australia • British Virgin Islands Canada • China • Colombia France • Germany • Hong Kong India • Indonesia • Ireland Netherlands • New Zealand Peru • Russia • Singapore Switzerland • Tanzania Thailand • United Kingdom United States • European Union v • d • e Tax rates around the world Tax revenue as % of GDP
Economic policy
Monetary policy Central bank • Money supply Gold standard
Fiscal policy Spending • Deficit • Debt
Policy-mix
Trade policy Balance of trade Tariff • Trade agreement
Finance
Financial market Financial market participants Corporate · Personal Public · Regulation
Banking
Fractional-reserve · Full-reserve Free banking · Islamic banking Deposit insurance
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"Tax code" redirects here. For the term as used in the United Kingdom PAYE system, see Tax code (PAYE).

Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.

Major issues

Primary taxation issues facing the governments world over include;

• taxes on income and wealth (or estates)
• taxation of capital gains
• taxation of retirement pensions and social security contributions etc.
• inheritance taxes
• taxation of gifts
• consumption taxes (or sales tax)
• taxation of corporations, LLCs, partnerships

Tax education from law schools

In law schools, "tax law" is a sub-discipline and area of specialist study. Tax law specialists are often employed in consultative roles, and may also be involved in litigation. Many U.S. law schools require about 30 semester credit hours of required courses and approximately 60 hours or more of electives. Law students pick and choose available courses on which to focus before graduation with the J.D. degree in the United States. This freedom allows law students to take many tax courses such as federal taxation, estate and gift tax, and estates and successions before completing the Juris Doctor and taking the bar exam in a particular U.S. state.

There are many fine LLM or Masters in Laws Graduate programs currently being offered in the United States, United Kingdom, Australia, Netherlands etc. Many of these programs offer the opportunity to focus on domestic and international taxation. In the United States most LLM programs require that the candidate be a graduate of an American Bar Association-accredited law school while a mere graduate law degree is a sufficient eligibility criterion in other countries for admission to LLM in Taxation law programmes.

Tax education from business school programs

There are hundreds of accredited business schools in the USA. Many are accredited by the AACSB or ACBSP or recognized by AAFM. These undergraduate or graduate programs may allow the student to major or graduate with a tax related degree such as a Masters in Taxation. Also, the undergraduate focus on accounting would allow a student to go the Certified Public Accountant (CPA) track. After a student completes the individual state or jurisdictional requirements for accounting, the applicant may sit for the Uniform Certified Public Accountant Examination.

See also

• Taxation in the United States
• Taxation in the United Kingdom
• Taxation in the Netherlands
• Taxation in Australia
• Taxation in Canada
• Taxation in China
• Taxation in France
• Taxation in Germany
• Taxation in India
• Taxation in Colombia

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