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Professional Level – Taxation
9 sections available · 79 chapters available
Free Professional Level – Taxation study notes for HKICPA QP (Hong Kong CPA) students. Each chapter covers a key topic with examples and practice prompts you can continue inside the thinka app.
Demonstrate an Understanding of the Tax System and Administration in Hong Kong
Principles of taxation
Types of tax
Sources of Hong Kong tax law: statute, case law, Board of Review decisions
Interpretation of tax statutes
The Basic Law
Departmental and Stamp Office Interpretation and Practice Notes
Structure and administration of the Inland Revenue Department
Duties and powers of officers of the IRD, and official secrecy
Obligations and liabilities of a taxpayer, agent, trustee or executor
Returns, offences and penalties
Assessments, additional assessments and provisional assessments
Payment, recovery, holding over and refund of tax
Objections, appeals and claims
Board of Review
Board of Inland Revenue
Field audit and investigation
Property Tax
Scope of property tax charge
Chargeable property and owners of land and/or buildings
Ascertainment of property tax liability
Salaries Tax
Scope of salaries tax charge
Time basis assessment
Incomes
Benefits in kind, housing, share-based and holiday journey benefits
Lump sum receipts
Expenses and deductions
Losses
Personal allowances
Separate taxation on spouses and joint assessment
Ascertainment of salaries tax liability
Profits Tax
Scope of profits tax charge
Badges of trade
Source of profits
Deemed trading receipts
Foreign-sourced income exemption
Distinction between capital and revenue items
General deductions and specific deductions
Cessation and post-cessation receipts and payments
Sharkey v Wernher principle
Stock borrowing and lending transactions
Financial instruments and foreign exchange differences
Exemption for funds
Family-owned investment holding vehicles
Alternative bond schemes
Corporate treasury activities
Regulatory capital securities
Corporate amalgamation
Company re-domiciliation
Aircraft and ship leasing activities
Intellectual property income
Special classes of business
Partnerships, joint ventures and allocation of profit/loss
Losses
Depreciation allowances: plant and machinery
Depreciation allowances: industrial and commercial buildings
Ascertainment of profits tax liability
Personal Assessment
Election of personal assessment
Ascertainment of tax liability under personal assessment
Stamp Duty
Scope of stamp duty charge
Conveyance on sale of immovable property
Agreement for sale of immovable property
Lease of immovable property
Hong Kong stock
Hong Kong bearer instrument, duplicate and counterpart
Voluntary disposition inter vivos
Alternative bond schemes
Exemptions and reliefs
Adjudication, assessment and administration
Ascertainment of stamp duty liability
Profits Tax for Cross-border Transactions and E-commerce
Tax implications for cross-border transactions and e-commerce business
Calculate tax liabilities for cross-border transactions and e-commerce
Tax System and Administration in the Chinese Mainland
Key aspects of the tax system in the Chinese Mainland
Hong Kong Tax Planning Ideas and Strategies to Enhance Tax Efficiency
Anti-avoidance provisions in the Inland Revenue Ordinance
The Ramsay principle
Offences and penalties
The advance ruling system
Hong Kong tax planning opportunities
Transfer pricing
Double taxation agreements/arrangements for tax planning
Professional, ethical and legal considerations in tax compliance and planning
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