Question: question 1 (3 marks): Mrs. Thien Ly, a 40 year-old CEO of Dai An corporation, is going to prepare her PIT return for the tax
question 1 (3 marks): Mrs. Thien Ly, a 40 year-old CEO of Dai An corporation, is going to prepare her PIT return for the tax year 2021 with the following data:
- Employment income: (i) Salary in Dai An corporation; (ii) 6 types of benefit in kind (both subject and not subject to PIT).
- Other incomes: (i) 2 item subject to PIT at the rate of 10% on assessable income; (ii) 1 item subject to PIT at the rate of 2% on selling price.
- Deductions: Compulsory insurances; 3 dependants of different types.
Requirements:
- Giving necessary detailed figures and information in order to identify Thien Lys income tax liability for the tax year 2021 provided that 4 brackets are used to compute Thien Lys employment income tax.
- Computing Thien Lys income tax liability for the tax year 2021 basing on above given information and the figures and information supposed.
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