The Irish Tax institute has launched a competition aimed at raising awareness of the Irish tax system among new undergraduates.

The 'Your take on Tax' competition calls on first and second year third level students to create a video or to submit a written submission on four tax-related topics.

Offering a prize of €1,500, teams are asked to create a video or write a submission outlining their understanding of the tax system in Ireland. Themes include questions about the types of tax relief available in Ireland and the role played by tax advisers.

The video should be no-longer than 5 minutes long – it doesn’t need to be recorded using an expensive video or recording device. Entrants can use their phones or digital cameras to record the footage before uploading the entry to YouTube.

Teams must have a minimum of two members with a maximum of four.

Entries will be accepted from teams of students who are registered as first or second year undergraduate students on any degree programme in an Irish university or college for the 2015/16 academic year.

Each entry will be judged by tax experts in the Irish Tax Institute.

Entries have to be submitted by 5pm on Friday, 26 February 2016.