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Question 1 (Total 20 marks) Please state the effects or consequences under Hong Kong Tax Administration in the following situations. What is the requirement of relevant section of IRO in each situation ? a. A taxpayer who runs a small clothing business fails to declare his profit for profits tax purposes. (5 marks) b. A taxpayer who owns a laundry business fails to keep and maintain business records properly. (2 marks) c. Mr. Wong who is single commenced a job on 1 December 2020 on a salary of HK$35,000 per month. By which date must he inform the CIR of his chargeability to salaries tax? (6 marks) d. Mr. Lam was employed as a marketing manager of a watch company on 1 May 2020. State the date by which the CIR will need to be notified of Mr. Lam's employment. (2 marks) c. Mr. Anger will move back to USA, his home country, and will not back to Hong Kong. He informs his employer that he wishes to terminate his employment on 31 December 2020 and return to USA. What are the obligations of the employer under $52? (5 marks) Question 2 (Total 15 marks) Mr. Yang owns a property which he lets to Mr. Yip for a four year period commencing 1 January 2017. The consideration was a lump sum premium of HK$108,000 payable on 1 January 2017 and monthly rental of HK$30,000 payable in advance on the first day of each month Required Compute the assessable value for 2016/17 to 2020/21. (Show your calculations) (15 marks) Question 3 (Total 15 marks) Mr. Leung owns a flat which he lets on a two year lease commencing on 1 June 2020 for a premium of HK$240,000, monthly rental of HK$30,000 and a monthly service fee of HKS 1,500. Mr. Leung paid rates of HK$6,500, government rent 4,000 and incurred HKS28,000 on essential repairs during March 2021. Required Calculate the property tax payable for 2020/21. (Ignore rates concession and provisional tax) (15 marks)