Question: QU ESTION TWO A. Explain any four (4) key functions of taxation in the Ghanaian Economy. (4 marks) B. Outline any four (4) benefits of

QU ESTION TWO A. Explain any four (4) key functions of taxation in the Ghanaian Economy. (4 marks) B. Outline any four (4) benefits of withholding taxes. (4 marks) C. What is income in the context of Act 896? Distinguish between assessable and chargeable incomes. (4 marks) D. Outline any ten (10) incomes that are exempted from tax under the Income Tax Act 896 of 2015 . (5 marks) E. Explain the conditions under which corporate expenditure would be allowable for tax purposes under the act 896 of 2015. (3 marks) TOTAL 20 MARKS

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

QUESTION TWO A. Explain any four (4) key functions of taxation in the Ghanaian Economy. (6 marks) B. Outline any four (4) benefits of withholding taxes. (2 marks) C. What is income in the context of...

Please attemp the question I have attached and I have guideline for the answers.For question 3,difference between tax evasion and avoiddance can be found in seminar 2 slides.Tax avoidance mean the...

questions; 7. (a) "The Balance of Payments figures give the most detailed information on Ireland's large and rapidly growing internationally traded services sector' (The Irish Times, September 2012)....

Assessment Details Qualification Code/Title ICT50220 Diploma of Information Technology Assessment Type Assessment -01 (Written Questions) Time allowed Due Date Location AHIC Term / Year Unit of...

Please solve the following in statement forms I will appreciate 5. (a) Explain the following terms which are commonly used in estimating the National Income statistics of a country: Subsidies;...

tackle all parts 1. The diagram below shows a firm operating under conditions of perfect competition in the short run. Price (a) What is represented by the lines numbered 1 to 3? Use the answer box...

echr Section C Question 5 Production Function Estimation. Suppose that you have a random cross section of firm- level data, with information on output, labor and capital. In logs, (uni, hi, k : i =...

hello hello explain the answers 1. The diagram below shows a firm operating under conditions of perfect competition in the short run. Price (a) What is represented by the lines numbered 1 to 3? Use...

this assignment is regarding return the tax of a client by using handy taxassignment. can anyone help me to complete the income section of this assignment, just write the solution in a pdf file?I...

Let D(1) denote the set of all first order linear differential operators L = p(x) D + q(x) where p, q are polynomials. (a) Prove that D(1) is a vector space. Is it finitedimensional or...

A big part of nutritional programming and goal setting is avoiding negative nutritional behaviors. Which of the following is the BEST way to achieve these goals? Select one: a. Identify triggers for...

Question 1 3 ( 1 point ) In HRIS, the information for accounting system is used in Health and safety Payroll interface Labor Relations Performance Evaluation

a=2 b= 0 c= 2 d=0 e=0 f=9 g=3 5. Draw the Network diagram for the following project. Estimate the Earliest start time and Latest finish time for each activity. If every day it cost 200 rials for this...