- Introduzione
- Module 4 - Registration, taxes and other legal requirements
Module 4 - Registration, taxes and other legal requirements
In this module, you will gain some insight into the application and legal requirements of general aspects of business types available and their legal, fiscal, and financial implications. (Information is general overall and will not be detailed to specific country requirements. General links are provided for the participant countries by the partners that include Malta, Italy, Greece, Ireland, Bulgaria, The Netherlands and Germany. *)
Syllabus
Module 4 is divided in 5 units- Unit 1. Business Formation
- Unit 2. Taxes
- Unit 3. Licences, Standards, Intellectual Property Rights
- Unit 4. Staff employment
- Unit 5. Company Registration and Winding up
Furthermore, there are Multiple Choice Questions related to each Unit
Duration of reading through and understanding each unit is approx. 2 hours Each unit varies and external links are provided. It is also proposed that students access the SME Hub Doing Business for additional information
Expected learning outcomes:
Knowledge
Upon completion of this module you will be aware of:
- General aspects of business types available and understanding their legal, fiscal and financial implications
- The legal requirements related to opening and owning a business (including licences, insurances, trademarks, patents, tax matters, financial statements)
- The potential advantages, constraints and implications of registering the business formally or turning an informal business into a formal one
- Understanding liability for the business debts
- Due diligence requirements
- Different taxes that may apply to the business (such as income tax, corporation tax and sales tax) and the business responsibility to pay/remit taxes
- Administrative and legal procedures related to hiring employees or apprentices (payroll, pensions, health care, safety, etc.)
- Legal and fiscal requirements related to different exit strategies and the legal implications and requirements of bankruptcy
- Understanding Patents and trademarks and protecting your business
Competences and Skills
Upon completion of this module you will be able to:- Understand taxation issues on a very generic EU aspect as they apply to businesses in the EU.
- Understand the legal format to decide what legal format you want to operate under. This is one of the most important decisions you need to take at an early stage as this will determine how you will operate your business in the future.
- Understand that when running a business in whatever legal form, one must comply with tax obligations – on time, and in the spirit and letter of the law.
- Understand
the importance of tax implications of proposed activities or plans, referring
to up-to-date legislation and that timely
interventions are required such as preparing financial statements, dealing with
licenses, tax filing and remitting.
- Demonstrate
knowledge of a very generic level as how tax law may apply wide variety
of different business types a such as companies, trusts, partnerships and
sole proprietors and evaluate and synthesise information and existing knowledge
from a number of sources.
- Being able to comply with due diligence requirements if necessary
- Know where to look for and find the required
updated information