PRACTISING CERTIFICATE EXAMINATIONS

 
HONG KONG INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

Syllabus for the Paper PC-Tax Planning
(For Reference Only)

The coverage of the paper is defined in competency-based terms. Each unit of competency within a field of competency is listed, together with an indication of the main related areas of skills and knowledge. Each of these is assigned a numerical indicator on the following three-point scale as a guide to the applicable level of competency:

  1. A general professional awareness of the field and related concepts, but without a detailed operational knowledge at the applied level

  2. A good understanding of the field with the ability to perform professional tasks competently without assistance in straightforward situations or applications

  3. A comprehensive mastery of the concepts and techniques sufficient to deal competently and unaided with complex and unusual situations and applications

Fields included:

Candidates are expected to demonstrate competence both within individual fields and across fields in combination.

Taxation and Tax Planning

Unit 1 Compute tax liabilities for individuals, unincorporated businesses, partnerships and companies
  		 
 
  • Determination of the taxation situation of an individual
  • Determination of the taxation situation of an unincorporated business
  • Determination of the taxation situation of a partnership
  • Determination of the taxation situation of a company

 3
3
3
3
Unit 2 Advise on the Hong Kong tax system, including tax planning, in relation to individuals and other entities
 		  
 
  • Analysis of the present and future application of the Hong Kong tax system to the situation of individuals and other entities

 3
Unit 3 Develop an awareness of the impact of major taxes on transactions and organisation
  		 
 
  • Impact of all major taxes on various forms of activity and transaction
  • Impact of major taxes on various forms of organisation
     
 2
2
Unit 4 Advise on the taxation effect of external communication; promote taxation awareness within own and/or client organisations; and develop systems for recording taxation liabilities and their payment
 		  
 
  • Taxation aspects of external communication
  • Taxation awareness within organisations
  • Development of systems for recording tax liabilities and their payment

 2
2
2
Unit 5 Establish objectives for the taxation function within an organisation, manage taxation work and projects, including staffing of the function
 		  
 
  • Objectives of the taxation function within an organisation
  • Management of taxation work and projects
  • Staffing of the taxation function in an organisation
 2
2
2

Examination Format
- 3-hour open-book format plus 1/2 hour reading time.
- the examination will comprise 2 sections and the marks allocation are as follows:
  Case
Essay/Short Questions		 50
50

Note:
1 The syllabus of this paper adopts that of Module D - Taxation of the Institute’s Qualification Programme.
2 Updated version of the Candidate Learning Pack designed for Module D will be available for sale around 4 months prior to the Examinations.


Reference List


Primary references

Inland Revenue Ordinance, Hong Kong Government Printer

Inland Revenue Rules, Hong Kong Government Printer

Stamp Duty Ordinance, Hong Kong Government Printer

Departmental Interpretation and Practice Notes, Inland Revenue Department

Stamp Office Interpretation and Practice Notes, Inland Revenue Department

Hong Kong Taxation, Law & Practice, Smith and Macpherson, The Chinese University Press

Hong Kong Master Tax Guide, CCH Asia Pte Limited

Advanced Taxation in Hong Kong, Dora Lee, Longman

Inland Revenue Board of Review Decisions, Hong Kong Government Printer

Hong Kong Tax Cases, Hong Kong Government Printer

Budget Proposals submitted by the Hong Kong Institute of Certified Public Accountants to the Financial Secretary, Hong Kong Institute of Certified Public Accountants


Supplementary references

Candidate Learning Pack of the Taxation Module (Module D) of the Qualification Programme of the Hong Kong Institute of Certified Public Accountants

Hong Kong Revenue Legislation, CCH Asia Pte Limited

Hong Kong Tax Manual, CCH Asia Pte Limited

Encyclopaedia of Hong Kong Taxation, PG Willoughby and AJ Halkyard, Butterworths

Hong Kong Institute of Certified Public Accountants Members’ Handbook, Hong Kong Institute of Certified Public Accountants

Relevant articles in A Plus

Hong Kong Inland Revenue Handbook, Nisha Mohamed, Lexis Nexis


Notes:

The tax ordinances, DIPNs and certain Board of Review decisions are also available in the home page of the Inland Revenue Department (http://www.info.gov.hk/ird).

The above publications are subject to editorial amendments.

The relevant technical articles in A Plus are also available in HKICPA website (http://www.hkicpa.org.hk)