User Account

All Pages

Evaluate and comment of the inland revenue ordinance

Assignment Help Accounting Basics
Reference no: EM132807704

Jason is an IT engineer employed by Blockchain Ltd. ("Blockchain"), which is carrying on cryptocurrency business in Hong Kong. Jason has a plan that he will terminate his existing employment contract with Blockchain and incorporate a self-owned Hong Kong company ("Service Co."), which will enter into an IT service agreement with Blockchain.

Under the IT service agreement, Jason will provide IT consultancy services to Blockchain in the capacity of Service Co. 's employee. An annual fee will be payable by Blockchain to Service Co. at an amount equivalent to Jason's annual salary under the existing employment contract with Blockchain. The fee will be payable on a monthly basis through bank transfer. Jason will be entitled to the staff discount on purchasing cryptocurrency from Blockchain. As an employee of Service Co., Jason receives accommodation and other fringe benefits from Service Co.

Required:

Problem 1: Regarding the arrangement proposed by Jason, evaluate and comment whether s.9A of the Inland Revenue Ordinance is applicable to the relationship between Blockchain and Jason, and the consequences if this section is applicable.

Reference no: EM132807704

Questions Cloud

Boost attraction and retention rates : What strategic changes should be made in order to boost attraction and retention rates? Use examples to support the answer.
How should mettle account for the tax effect of share option : If the intrinsic value of the share options on December 31, 20x1 is ?2,400,000, how should METTLE account for the tax effect of the share options?
What are the pros and cons of using mediation : From the employer perspective, what are the pros and cons of using mediation, arbitration, and conciliation?
What should be the accounting entry at the date of purchase : What should be the accounting entry at the date of purchase of the inventory? Doc, a public limited company, has purchased inventory of P100,000.
Evaluate and comment of the inland revenue ordinance : Evaluate and comment whether s.9A of the Inland Revenue Ordinance is applicable to the relationship between Blockchain and Jason
Make the things and intention of kavery transparent : He recollected the conversation between him and Kavery on the transfer application of Vijay Kavery says, "Sudan, Vijay is very dynamic.
What the net asset value per share is : Average expected profit is Rs. 8,500. Transfer to reserves is 10% preference dividend is payable. NRR is 9%. The Net Asset Value Per share is
What is the total initial cash outflow for corporation : What are the estimated annual operating cash flows? The annual revenues (sales) for the new product line are expected to be $233,512.00
Determine the employee satisfaction and retention : According to Bauer (2004) onboarding systems range and vary from highly structured to a more 'sink or swim' approach.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd