Notes to Candidates:
1. In attempting the assignment, you may make reference of your discussion with the context of taxation regulations and administration in Hong Kong and / or other countries.
2. Marks are allocated on the basis of strength of argument, clarity of presentation, appropriate reference to authorities (Inland Revenue Ordinance, Board of Review Decisions, Precedent Cases, etc.), and comprehensiveness of consideration.
3. You can freely decide on the length of your paper.
Please carry out an analysis of the various tax types and bases that are currently adopted by other countries (please note that there is no restriction on your choice of reference countries, or the number of references) that you wish to make reference to, and then based on your discovery analysis, please discuss, with reasons and justifications, whether you would propose to introduce a new tax type or base in Hong Kong.
If you propose to introduce a new tax base in Hong Kong, please provide detailed discussion of the following:
1. Reasons why we need to introduce a new tax base in Hong Kong
2. Reasons of introducing this tax base (and NOT other bases) in Hong Kong
3. The estimated or expected result and impact of introducing this new tax base
4. Proposed procedure and timeline for the introduction of the new tax base
5. Any foreseeable problem or issue that needs to be taking care of in the introduction of this proposed tax base.
Please consider the following: Broadness, Neutrality, Fairness, Effectiveness, Efficiency, Certainty and Simplicity, Flexibility, International Competitiveness, and Revenue Yield.
