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What is the correct treatment of the estate income for individual income tax purposes？
A.The estate income is not taxable
B.The estate income will be taxed as occasional (ad hoc) income
C.The estate income will be taxed as other income
D.The estate income will be taxed as service income
答案
更多“In 2014 Mr Yuan inherited an estate of RMB2 million from his uncle who had died two months”相关的问题
第1题
(i) Mr Lee would subscribe RMB 70,000 yuan in cash and RMB 110,000 yuan in the form. of computer software. He should make the first payment of RMB 20,000 yuan in cash to the special account of the certified public accountant firm, and the remaining RMB 50,000 yuan plus the computer software would be contributed within one year upon the incorporation of the company.
(ii) Mr Wang would subscribe RMB 150,000 yuan in the form. of equipment and land use right and make all the capital contributions within six months upon the incorporation of the company.
(iii) Mr Chan would subscribe RMB 270,000 yuan in cash. The first payment of RMB 90,000 yuan should be made before the incorporation, the remaining RMB 180,000 yuan should be made in the third year upon the incorporation of the company.
Required:
Answer the following questions in accordance with the Company Law of China, and give your reasons for your answers:
(a) discuss whether the initial capital contributions made by the sponsors were in conformity with relevant provisions of law; (3 marks)
(b) discuss the total amount of capital contributions in currency; (3 marks)
(c) state whether the time arrangement of making capital contributions by the three sponsors respectively was in conformity with the relevant provisions of law. (4 marks)
第2题
Several months later, Mr Ma borrowed another RMB 200,000 yuan from Mr Lee and delivered his truck as the pledge to Mr Lee. The two parties then registered the pledge agreement.
Upon the expiration of the loan agreements, Mr Ma was unable to repay the capital and interest. A dispute occurred between Ms Yang and Mr Lee, since they intended to exercise the right of guarantee simultaneously.
Required:
In accordance with the Property Law of China:
(a) Explain whether the mortgage agreement between Mr Ma and Ms Yang came into effect. (2 marks)
(b) Describe when the right of pledge between Mr Ma and Mr Lee was established. (2 marks)
(c) Explain who should be repaid in priority if the truck was auctioned. (2 marks)
第3题
In June 2011 Mr Fang leased the same house to Ms Lee for a period of two years.
Due to the sudden change of the market and poor operation of his enterprise, Mr Fang was unable to repay the principal and interest as agreed when the loan matured at the end of January 2012. Credit Association filed a lawsuit in the people’s court and obtained a judgement in favour of its claim for the principal RMB 2 million yuan plus interest.
Credit Association then advised Ms Lee to leave the house, as it has been authorised by the people’s court to organise a public auction to sell the house for the enforcement of the judgement. Ms Lee refused to leave the house on the grounds that the lease agreement was an effective one between Mr Fang and herself and would last until the end of June 2013. In addition, Credit Association’s right of mortgagee should not affect her right under the lease agreement.
Required:
Answer the following questions in accordance with the relevant provisions of the Property Law, and give your reasons for your answer:
(a) state whether Ms Lee’s grounds for refusal to leave the house can be established. (5 marks)
(b) state how Ms Lee should deal with the current situation. (5 marks)
第4题
Yado Steel Co Ltd (Yado Steel) entered into a loan agreement with Industry Bank to borrow RMB 20 million yuan for its expansion programme. Yado Steel provided its office building as property mortgaged for the debt, and made the registration as required. Mr Ding, one of the shareholders of Yado Steel, placed a guarantee letter of general liability in favour of Industry Bank.
Due to poor performance, Yado Steel failed to repay the debt when it came to maturity. Meanwhile, Industry Bank, under a restructuring plan, transferred the credit of RMB 20 million yuan together with the right of pledge to Oriental Assets Management Co (OAM). It also made a written notice to Yado Steel and Mr Ding, but failed to transfer the right of mortgage to OAM. On the contrary, Industry Bank concluded an agreement with Yado Steel before it went bankrupt, and settled other debts owed by the latter through the sale of the office building as mortgaged for the loan. Having found this fact, OAM, as a transferee of the credit, requested the court to order Mr Ding to bear its guarantor’s liability for the debt. Mr Ding asserted that he was a pledger with a general liability and would be responsible for the debt only if the things mortgaged could not satisfy the debt.
Required:
Answer the following questions in accordance with the relevant provisions of the Property Law and the Contract Law, and give your reasons for your answer:
(a) State whether the defence of Mr Ding should be supported by the court. (6 marks)
(b) State what was the cause of this dispute between OAM and Industry Bank. (4 marks)
第5题
What is the total amount of individual income tax (IIT) which Mr Li will pay on the above incomes？
A.RMB2,492
B.RMB2,576
C.RMB2,548
D.RMB3,680
第6题
阅读理解：阅读下面的短文，根据文章内容进行判断，正确为“T”，错误为“F”。
One of the masterpieces of modern architecture, the fantastic Hangzhou Bay Bridge has been opened to the public since May 2008.
The Bridge is an S-shaped stayed-cable bridge with six lanes in both directions and is linking Ningbo's Cixi county in the south to Jiaxing in the north. It shortens the highway travel distance between Ningbo and Shanghai by 120 kilometers, and reduces the driving time from 4 to 2.5 hours.
It is the longest sea-crossing bridge in the world - 36 kilometers (22 miles) long. This fantastic bridge crossing the Hangzhou Bay is expected to have a 100-year lifespan, and has a price tag of 11.8 billion yuan (US$1.70 billion).
The toll fee is 80 yuan per vehicle. As the bridge has six lanes in both directions, you can be quite sure that you will have a smooth ride.
The speed limit is 100 kilometers / 62 miles.
The first preparations for planning the bridge started a decade ago close to 600 experts spent nine years on designing the Hangzhou Bay Bridge. Chief Commander of the Bridge Project is Mr Wang Yong. The bridge was linked in 2007 and an opening ceremony was held on 26th June. But the Bridge was first open to the public, almost one year later, after a series of tests and evaluations.
1.The fantastic Hangzhou Bay Bridge has been opened to the public since May 2010.{T、F}
2.It is the longest sea-crossing bridge in the world - 36 kilometers (22 miles) long.{T、F}
3.The toll fee is 100 yuan per vehicle.{T、F}
4.The speed limit is 100 kilometers / 62 miles{T、F}
5.Chief Commander of the Bridge Project is Mr Yang Yong.{T、F}
第7题
What is the amount of individual income tax (IIT) payable by Mr Lee in 2014？
A.RMB0
B.RMB40,000
C.RMB22,400
D.RMB32,000
第8题
(a) Mr Xu, a domestic Chinese, is a designer. He is considering the following four options:
Option A: Joining Delta Ltd as a manager with a monthly salary of RMB40,000 and an annual bonus of RMB100,000 payable in December each year.
Option B: Providing services to Delta Ltd as a consultant for a consultancy fee of RMB50,000 per month.
Option C: Setting up his own sole proprietorship. He will pay himself a monthly salary of RMB20,000 from this sole proprietorship. For 2014 the net profit of the sole proprietorship after charging Mr Xu’s salary is expected to be RMB420,000.
Option D: Setting up a limited company, Xupa Ltd. He will pay himself a monthly salary of RMB20,000 from Xupa Ltd. For 2014 the net profit of the company after charging Mr Xu’s salary is expected to be RMB420,000. Xupa Ltd will pay enterprise income tax at the rate of 25% and distribute all of its profit after tax to its shareholder, Mr Xu, as a dividend.
Required:
Calculate the individual income tax (IIT) payable by Mr Xu for 2014 under each of the four options.
Note: Ignore value added tax and business tax. (10 marks)
(b) State, giving reasons, whether the following persons will be subject to individual income tax in China on their worldwide income in 2014:
(1) Ms Wang has her household in Xiamen and holds a China identity card. She has been studying in Australia since 2010 and has not returned to China for the last six years, including in 2014.
(2) Mr Beth is a US citizen, who has lived in China working for a non-government organisation since 2010. He has not travelled outside China for the last six years, including in 2014.
(3) Ms Ruth is an Australian citizen. She travelled to China and stayed in China for a total of 250 days in 2014. (5 marks)
第9题
(i) Hangle Garment Co had given up a credit of RMB 500,000 yuan owed by its affiliate enterprise in August 2013;
(ii) Some shareholders of Hangle Garment Co failed to make full capital contributions as prescribed in the articles of association of the company;
(iii) There was a contract between Hangle Garment Co and Bright Department Store, which was concluded before the bankruptcy application was accepted and had been partly performed.
Required:
In accordance with the Enterprise Bankruptcy Law of China:
(a) State whether the action of giving up credit could be revoked during the process of liquidation. (2 marks)
(b) State how the lack of full capital contributions by some of the shareholders of the company should be dealt with. (2 marks)
(c) State what right the bankruptcy administrator has regarding the partly-performed contract between Hangle Garment Co and Bright Department Store. (2 marks)
第10题
(a) Phi Ltd is a company set up in Guangzhou. In 2014 Phi Ltd incurred the following expenses:
(1) A consultancy fee of RMB3,500 for services provided in China paid to Mr Xie, who is a China tax resident.
(2) A consultancy fee of RMB70,000 for services provided in China paid to Ms Ma, who is not a China tax resident.
(3) A royalty of RMB80,000 paid to Deji Ltd, which is a China tax resident enterprise.
(4) A royalty of RMB90,000 paid to Backa Ltd, which is not a China tax resident enterprise.
Required:
For each of the four payments, state whether Phi Ltd will be a withholding agent for income tax, and where Phi Ltd is the withholding agent, calculate the amount of income tax to be withheld.
Note: Ignore value added tax and business tax, and any tax incentives available under tax treaties. (7 marks)
(b) Jack has set up an e-shop selling goods via an internet platform. His total sales in 2014 were RMB400,000. He did not register with the tax authorities or pay any taxes in 2014. This was discovered by the tax bureaus in 2015.
Required:
State the possible consequences Jack may be exposed to under the Tax Collection and Administrative Law, as a result of his failure to comply with the tax registration and tax payment requirements. (3 marks)
