Assume that the estimated chargeable income for BANKU LTD for the 2016 year of assessment was...
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Assume that the estimated chargeable income for BANKU LTD for the 2016 year of assessment was GH¢100,000,000 but its actual chargeable income declared at the end of the year was GH¢160,000,000. The return was submitted on 30th April, 2017. The BOG discount or prevailing rate is 25% and the corporate tax is also 25%. You expected to calculate (if any) the penalty for underestimation.
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The rate of penalty shall be fifty per cent of the tax payable on under repor View the full answer
Related Book For
Advanced Accounting
ISBN: 9780134472140
13th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Posted Date:
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