1. Which of the following is NOT a characteristic of the Hong Kong tax system? A) Low tax rates. B) Mandatory total income tax. C) Territorial source concept. D) No capital gains tax. 2. The chairman of the Board of Inland Revenue is: A) The Secretary for Justice. B) The Commissicher of Inland Revenue. C) The Chief Executive. D) The Financial Secretary. 3 Keith resigned from SPACE Ltd on 28 April 2015 after working there for eight years. On 1 July 2015, he received a bonus of $38,000 in respect of SPACE Ltd's financial result for the year ended 31 December 2014. The date of accrual of the bonus to Keith was A) 31 December 2014. B) 31 March 2015. C) 28 April 2015 D) 1 July 2015 4. Mr Tin retired on 31 January 2019 after working with SPACE Lid for 15 years. He received a gratuity of $36,000 from his employer on 28 February 2019. Mr Tin applied to have the gratuity related back. What will be the amount of gratuity to be included in the year of assessment 2018/2019? A) $10,000 B) $11,000 C) $12.000 D) $36,000 End of Section A