Mr Lee is a Korean living in Korea. He is an employee of K(Korea) Ltd and a non-executive director of K(HK) Ltd. K(Korea) Ltd is a Korean company carrying on business in Korea, while K(HK) Ltd is a company managed and controlled in Hong Kong. During the year ended 31 March 2021, Mr Lee received director’s fee of $730,000 from K(HK) Ltd. He visited Hong Kong for 20 days to attend the director meetings of K(HK) Ltd during the year. Mr Lee’s total assessable income for the year of assessment 2020/21 is: Select one: a. $40,000 b. $365,000 c. Nil d. $730,000

Mr Lee is a Korean living in Korea. He is an employee of K(Korea) Ltd and a non-executive director of K(HK) Ltd. K(Korea) Ltd is a Korean company carrying on business in Korea, while K(HK) Ltd is a company managed and controlled in Hong Kong. During the year ended 31 March 2021, Mr Lee received director’s fee of $730,000 from K(HK) Ltd. He visited Hong Kong for 20 days to attend the director meetings of K(HK) Ltd during the year. Mr Lee’s total assessable income for the year of assessment 2020/21 is: Select one: a. $40,000 b. $365,000 c. Nil d. $730,000

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 48P

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