Tax and Financial Law
Tax law
Understand the constitutional basis of taxation (taxes only by law), the elements of a tax (subject, object, base, rate, period, deadlines), and the distinction between taxes and fees. Know the main taxes: profit tax, personal income tax, VAT, excise, property and land tax. Master tax administration: registration, declarations, assessment, audits, and appeals.
Rights and guarantees
Taxpayers have rights to information, representation, appeal, and refund of overpaid tax. Authorities must respect procedural guarantees; assessments must be reasoned. Know the limitation periods for assessment and collection.
Financial law
Understand the budget process, the treasury, state debt, banking supervision, and anti-money-laundering obligations of financial institutions.
Traps
Frequent traps: assuming a tax can be created by a Cabinet resolution (it must be by law); confusing VAT input and output mechanics; and overlooking procedural defects that invalidate an assessment. Another trap is mixing tax liability with administrative or criminal liability for tax offences.
Rule of thumb
For any tax scenario, list the six elements; if any is missing from the legal basis, the assessment is defective. Then check procedure and deadlines.