Outward Trade Company Limited ("OTC**) is a trading business company incorporated in Hong Kong

Mr. Peter Lee is the accountant of OTC and has tendered his resignation recently. A new accountant, Mr. Jack Cheung, has been employed and will report duty on 1 October 2023.

Harry Jackson, marketing manager of OTC, informed OTC that he would resign from his job and return to USA to take up his family's business in USA. His last working day with OTC is on 25 October 2023 and he will departure Hong Kong to USA on 1 November 2023.

Required

Explain the above situations with the relevant sections), including the section number, of Inland Revenue Ordinance that OTC has to follow.

Outward Trade Company Limited ("OTC") is a trading business company incorporated in Hong Kong. Mr. Peter Lee is the accountant of OTC and has tendered his resignation recently. A new accountant, Mr. Jack Cheung, has been employed and will report duty on 1 October 2023. Harry Jackson, marketing manager of OTC, informed OTC that he would resign from his job and return to USA to take up his family's business in USA. His last working day with OTC is on 25 October 2023 and he will departure Hong Kong to USA on 1 November 2023. Required Explain the above situations with the relevant section(s), including the section number, of Inland Revenue Ordinance that OTC has to follow. (24 marks)