Taxation And Tax Planning 21st Edition Patrick Kin-wai Ho; Kelvin Po-lung Mak - Solutions

Explain when stock borrowing is chargeable with or exempt from stamp duty.e. f.
Explain the procedures involved in the stamping of the sale and purchase of Hong Kong stock. Explain the procedures involved in the stamping of the transfer of Hong Kong stock as a gift.
Define Hong Kong stock under the Stamp Duty Ordinance. C. d.
Explain the meaning of stock under the Stamp Duty Ordinance.
Explain how a lease of immovable property and an agreement for a lease of immovable property are stamped.
Explain how to calculate the amount of stamp duty chargeable on the transfer of immovable property.
Explain the procedures involved in the stamping of a gift of immovable property.
Explain the procedures involved in the stamping of the conveyance on sale of residential immovable property.
Explain the procedures involved in the stamping of the conveyance on sale of non-residential immovable property.
Explain the procedures involved in the sale and purchase of immovable property.
Explain who may be liable for the payment of stamp duty.
Explain when the Collector will issue a stamp duty assessment.
Explain how a voluntary disposition inter vivos is chargeable with stamp duty.
Explain the operation of the "contingency principle" under the stamp duty law.
Explain how to determine the stamping value when payments are made over a period.
Explain in what situations Sections 24(1), (2) and (3) are applied.
Explain what can be the consideration for the purpose of the Stamp Duty Ordinance.
Explain the principle of "substance over form" under the stamp duty law. C.d. e.
List the instruments that are required to be stamped under the Stamp Duty Ordinance.
m. n. Explain how the general anti-avoidance provisions under Section 61A are applicable to specific anti-avoidance provisions such as change of accounting date under Section 18E.
Explain how a Type II Service Company under DIPN 24 operates.
Explain how a Type I Service Company under Section 9A operates.
Explain how the payment of royalty provisions under Section 21A operate.
Explain how the purchase of intellectual properties provisions under Sections 16E, 16EA, 16EB and 16EC operate.
Explain how the limited partner's loss relief provisions under Section 22B operate.
Explain how the transfer of rights provisions under Section 15A operate.
Explain how the general anti-avoidance provisions under Sections 61 and 61A operate.
Explain how the utilisation of losses provisions under Section 61B operate.d. e.
Explain how leveraged leasing provisions under Section 39E operate.
Explain how the transfer pricing provisions under Section 50AAF operate.
Explain how the deduction of interest expenses under Sections 16(2) to (2C) operates.
Explain how transfer pricing operates.
Explain how licensing and franchising income may be taxed.
Explain how a Hong Kong company can set up an overseas subsidiary to earn foreign income.
Explain how to set up a business in Hong Kong.
Explain how deduction of interest would affect foreign borrowing.
Explain the double taxation relief with the Mainland.
Explain when a taxpayer may object to a personal assessment tax assessment.
Explain briefly how to compute personal assessment tax.
Explain the steps and procedures for electing for personal assessment.
Explain who may elect for personal assessment.
List the advantages of election for personal assessment.
Explain how to distinguish between the different tax treatments for capital expenditure incurred on improvement and refurbishment.
Explain how to compute the annual allowance for a second-hand acquired commercial building.
Explain how to compute the balancing allowance and balancing charge for a commercial building.
Explain how to determine the cost of construction and annual allowance for a commercial building.
Explain the definition of a "commercial building".
Explain how to distinguish between the different tax treatments for capital expenditure incurred on improvement and refurbishment.
Explain how to compute the annual allowance for a second-hand acquired industrial building.
Explain how to compute the balancing allowance and balancing charge for an industrial building.
Explain how to determine the cost of construction, initial allowance and annual allowance for an industrial building.
Explain the definition of an "industrial building".
Explain how to compute depreciation allowances for assets acquired under leveraged leasing terms.
Explain how to compute depreciation allowances for assets acquired under the sale and leaseback scheme.
Explain how to treat assets disposed in the computation of depreciation allowances.
Explain in what circumstances that the expenditure incurred for the acquisition of fixed assets can be fully deducted.
Explain how to compute depreciation allowances for private assets introduced to business use.
Explain how to compute depreciation allowances for assets acquired under hire-purchase terms.
Draw the format of a depreciation allowance schedule.
Explain the income tax exemptions under profits tax regarding Family-owned Investment Holding Vehicles in Hong Kong.
Explain the income tax concessions under profits and salaries tax regarding carried interest.
Explain the rules behind the Unified Fund Exemption regime under the Inland Revenue (Profits Tax Exemption for Funds) (Amendment) Ordinance 2019.
Explain how income can be exempt from profits tax for trading Hong Kong listed stocks or private shares by non-resident private equity funds, including the special purpose vehicles held by offshore private equity funds.
Explain how income can be exempt from profits tax for trading Hong Kong listed stocks by non- resident individuals or corporations.
Describe the legislation amendments to the Inland Revenue Ordinance since 2006/2007 with respect to income tax exemptions from non-resident funds to resident funds.
Explain how overseas tax on interest income is treated under profits tax.
Explain how overhead expenses of a financial institution are treated in different situations. 799
Explain how the bad debts on loan are differently treated in the case of a financial institution and a non-financial institution under profits tax.
Explain how the gain and loss in foreign exchange are differently treated in the case of a financial institution and a non-financial institution under profits tax.
Explain how interest income received from loan by a financial institution is chargeable to profits tax.
Explain how interest income received from deposits by a financial institution is chargeable to profits tax.
Explain how a financial institution operates its business generally from the angle of carrying on a business in Hong Kong.
Define a "financial institution" under the Inland Revenue Ordinance.
Explain how the assessable profits of a qualifying ship manager is computed. Explain how the assessable profits of a qualifying ship broker is computed.
Explain how the assessable profits of a qualifying ship agent is computed.
Explain how the assessable profits of a qualifying ship leasing manager are.computed.
Explain how the assessable profits of a qualifying ship lessor are computed.
Explain how the assessable profits of a ship owner are computed.
Explain when a ship owner is deemed to be carrying on a shipping business in Hong Kong.
Explain the special tax treatment of unabsorbed losses relating to concessionary trading and normal trading receipts.
Explain the specific anti-avoidance measures to deny concessionary tax rate of a specified insurer under Section 14B(2).
Explain the concessionary tax treatment applicable to general reinsurance business, certain types of general insurance business of direct insurers and certain types of insurance brokerage business of licensed insurance broker companies.
Explain whether the profits made from the disposal of immovable properties or stock by an insurance business are assessable under profits tax.
Explain how the assessable profits of a general reinsurance business or specified general insurance business of a specified insurer are computed under Section 23AB(1). Explain why the profits made by a mutual insurance corporation are assessable under profits tax.
Explain how the assessable profits of a non-life insurance business are computed under Section 23A(1).
Explain how the assessable profits of a life insurance business are computed under Section 23(1)(b).
Explain how the assessable profits of a life insurance business are computed under Section 23(1)(a).
Discuss the advantages and disadvantages of a change of accounting date.
Explain how to determine the basis period when there is a change of accounting date.
Explain how to determine the basis period for the year of cessation of business.
Explain how to determine the basis period for the year of commencement of business.
Explain how to determine the basis period for a continuous business.
Explain the difference between a year of assessment and a basis period.
Explain how the loss of a joint venture is treated in a profits tax computation question.
Explain how the loss of a limited partnership under Section 22B is handled.
Explain how the loss of a corporation is handled.
Explain how the loss of a partnership is handled.
Explain how the loss of a sole-proprietorship business is handled.
Explain how to prepare a personal assessment allocation for a partnership.
Explain how the tax liability of a partnership is borne by a partnership.

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Taxation And Tax Planning 21st Edition Patrick Kin-wai Ho; Kelvin Po-lung Mak - Solutions

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