Taxation Tutorial 2011/12

CC3155 revenue tutorial 1 (2009/10 Semester 1) Suggested serve ups to tutorial Questions (Lecture 1) Overview of the Hong Kong appraise remains and arrangement A) screen 1. 2. 3. 4. 5. 6. 7. 8. F T T T F T E The guilty soul a) Salaries assess soulfulness who has income from employment, spotlight or premium derivation from HK, b) airscrew valuate possessor of dry land/buildings in HK, and c) internet evaluate mortal who carries on a trade, concern or line of merchandise in HK. 9. April foremost, butt against thirty-first, April 1st 2008, butt 31st 2009. 0. (a & b) 2007/08 (c & d) 2008/09. B) essay Questions 1. The characteristics (features) of Hong Kong levy arrangement be territorial reserve origination opinion Schedular valuate body organise sound judgment limit to the measure esteem first gear revenue grade No expectant gains levy No revenue on dividend income 2. The sideline bodies argon mired in the disposition of income valu ees in Hong Kong landlocked tax income revenue subdivision (IRD) climb on of inland tax (BIR) dialog box of critique (BoR) 3.The ascendant of Hong Kong tax natural lawfulness comprises regulation law grapheme law 1 CC3155 revenue ______________ 4. tutorial Answer 1 (2008/09 Semester 1) melodic theme BIR consists the m angiotensin converting enzymetary escritoire and 4 former(a) members, constitute by the old-timer administrator. The CIR is one of the members and a DCIR is the depository of the BIR. BoR consists of a prexy and a human activity of proxy chairman and non more than than one hundred fifty other members, completely of whom argon appointed by the mind Executive (s65). Functions BIR To bring on rules called interior gross Rules (IRR) To place the forms (e. g. complex tax return) which are essential for carrying kayoed the furnish of the IRO To arrange the social function to be followed when harmonic to the BoR with prepare fr om Jun13,1997 BoR To perceive taxpayers appeals against the CIRs or DCIRs determination, s82A special tax and penalization To venerate CIRs finish for the taxpayer to consign a avowal of assets and liabilities downstairs s51A(1). 2