Preparing profits tax computations - Workshop 2018

This workshop will give you insights to complete profit tax return 2017/18 with profits tax computation.

This workshop will aim to provide you with an understanding on how to prepare a detailed profits tax computation through an illustration of preparing a profits tax computation with detailed steps and explanation for each item involved. After the workshop, you will gain knowledge on the preparation of a profits tax computation with medium difficulty.


Key topics covered:

  • Advanced treatment of royalty under section 15(1)(a), (b) and (ba) and section 21A
  • Deduction of various expenses (including bad debts, commission, exchange difference, legal fee, provision of stock option for employees and etc.) under profits tax
  • Advanced treatment of deduction of interest expense under sections 16(2), (2A), (2B), (2C), (2CA) and (2CC)
  • Interaction between treatment of repair, replacement, refurbishment and improvement
  • Deduction under sections 16B, 16E, 16EA, 16F, 16G and 16I
  • Preparation of depreciation allowance schedule (including hire-purchase items and disposals)
  • How to determine industrial and commercial building allowance where the cost of construction is not available
  • Practice on preparing a detailed profits tax computation done for daily work with working schedules


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 advanced treatment of royalty under section 15(1)(a), (b) and (ba) and section 21A
  • Identify deduction of various expenses (including bad debts, commission, exchange difference, legal fee, provision of stock option for employees and etc.) under profits tax
  • Understand advanced treatment of deduction of interest expense under sections 16(2), (2A), (2B), (2C), (2CA) and (2CC)
  • Recognise interaction between treatment of repair, replacement, refurbishment and improvement
  • Understand deduction under sections 16B, 16E, 16EA, 16F, 16G and 16I
  • Know the preparation of depreciation allowance schedule (including hire-purchase items and disposals)
  • Understand how to determine industrial and commercial building allowance where the cost of construction is not available
  • Prepare a detailed profits tax computation done for daily work with working schedules

Audience

This workshop is suitable for commercial accountants, auditors, tax professionals and those who are interested in illustration of preparing a profits tax computation with detailed steps and explanation for each item involved.

3 hours

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