The tax system is used to support industry through special incentives. Some target specific industries (primary production, mining and energy, films), some target sectors of the economy (small business), while others apply to industry generally (research and development, intellectual property). Modern modes of doing business, most notably the advent of ecommerce, also present problems in the traditional application of tax laws.
This course covers special tax rules and incentives that apply to persons or entities operating in specific industries or sectors of the economy, including small business, as well as more general incentives to encourage inventiveness and increase competitiveness. Concentration is on productive sectors of the economy (as opposed to financial services) and extends to taxation of ecommerce. Coverage includes a critical analysis of why special rules exist and the desirability and effectiveness of using the tax system to achieve government industry policy.