Preparation of profits tax return and computation 2017/18 - Workshop 2018

This workshop will provide you with an understanding on how to complete a profits tax return and prepare a simple profits tax computation.


Key topics covered:

  • How an assessor examines a taxpayer's profits tax return
  • How to calculate profits tax payable and complete the profits tax return for the year of assessment 2017/2018
  • How to calculate assessable profits under section 20AE
  • Treatment of royalty under section 15(1)(a), (b) and (ba) and section 21A and completion of BIR54
  • Basic treatment of deduction of expense (including interest, commission and other expenses)
  • Treatment of repair, replacement, refurbishment and improvement
  • How to handle loss of a corporation
  • Treatment of assessable profits in the year of commencement of business
  • How to complete data boxes in the profits tax return
  • Practice on preparing a simple profits tax computation


Trainer profile:

Patrick Ho, LL.B, LL.M., MBA, MCS, FCCA, FCPA

Barrister-at-law, Principal Lecturer, FTMS Training Systems (HK) Limited. He is the sole author of the book “Hong Kong Taxation and Tax Planning”, and has more than 35 years’ experience in tax practice, university teaching and in-house teaching in all the Big 4.

Learning objectives

  • Understand how an assessor examines a taxpayer's profits tax return and how to calculate profits tax payable and complete the profits tax return for the year of assessment 2017/2018
  • Know how to calculate assessable profits under section 20AE
  • Recognise treatment of royalty under section 15(1)(a), (b) and (ba) and section 21A and completion of BIR54
  • Apply basic treatment of deduction of expense (including interest, commission and other expenses)
  • Understand treatment of repair, replacement, refurbishment and improvement
  • Understand how to handle loss of a corporation
  • Recognise treatment of assessable profits in the year of commencement of business
  • Able to complete data boxes in the profits tax return
  • Prepare a simple profits tax computation

Audience

This workshop is suitable for commercial accountants, auditors, tax professionals and those who are interested in the preparation of Profits Tax Return and Computation 2017/18.

3 hours

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