3. I am a director of a company and receive director's remuneration. Can I claim deductions for tax purposes from my MPF contributions?
An executive director receiving salaries under a contract of employment is required to join a MPFS, and is entitled to a tax deduction for mandatory contributions each year. Any voluntary contributions to a MPFS are not deductible for tax purposes.
A director who receives director's fees in contrast is not considered an employee and is not required to take part in the MPFS.
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