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:

  1. Employment income: (i) Salary in Dai An corporation; (ii) 6 types of benefit in kind (both subject and not subject to PIT).
  2. 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.
  3. Deductions: Compulsory insurances; 3 dependants of different types.

Requirements:

  1. 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.
  2. 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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