Question: QUESTION 1. a. Discuss two differences between direct and indirect taxes. b. According to Keynesians, tax affects nations tremendously. You have an opportunity to make
QUESTION 1. a. Discuss two differences between direct and indirect taxes. b. According to Keynesians, tax affects nations tremendously. You have an opportunity to make a presentation to the Vice President of Ghana. Explain how tax affects citizens using the forward and backward shifting analysis c. List and explain four attributes of a good tax system d. Discuss how you will deal with the below situation as a Chief Finance Adviser in Malcom X Company Limited; REQUIRED: i. Your company was established four months ago at a village in Oda. The managers are all non- residents. Malcom X Company was providing services to another company in Kumasi. Should amount receivable attract a WHT? If yes, what percentage? ii. One of the managers of Malcom X is required to be paid for management services? How should the WHT be charged if he stays at Switzerland? Any double taxation rules? iii. A foreigner who is one of the managers decides to stay in Ghana for seven months? Is it compulsory to withhold a final WHT? If yes, why & how much? If no, how WHT should be charged. iv. Discuss two advantages and disadvantages of direct taxes
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