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4. One of the partners has a separate employment, and mandatory contributions (for a MPF scheme) have been made by him both in the capacity of a self-employed person and an employee. How should tax deductions be claimed under profits tax?

In arriving at the deductible amount, sums already deducted in the partner's Salaries Tax assessment, and Profits Tax assessments of his other businesses have to be taken into account. In other words, the aggregate amount to be deducted for that partner in respect of MPF contributions should not exceed $18,000 in any year.

 

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