The Advanced Taxation module (Paper 3.3) is part of the Professional Level (Level 3) in the ICAG professional qualification syllabus. This module builds on the knowledge gained from Principles of Taxation (Paper 2.6) and further develops aspects of tax-related competencies that allow students to ensure compliance and identify opportunities for tax planning, where appropriate. Both Ghanaian and further international dimensions of taxation will be considered, with skills being developed from analysis and evaluation of complex scenarios. Students will be able to demonstrate skills by conveying appropriate levels of advice to a wide range of clients, applied to a high ethical standard.
Below is the syllabus coverage in tabular form, including main topics and their approximate weightings (guiding study time and exam mark allocations).
| Syllabus Topic | Description | Weighting (%) |
|---|---|---|
| A. Tax Administration | Identify and explain the obligations of taxpayers and/or their agents and the implications of non-compliance, including systems for self-assessment and preparation of tax returns, time limits for submission of information, claims, and payment of taxes, tax identification numbers, tax clearance certificates, procedures for compliance checks, appeals, and dispute resolution, penalties for non-compliance. Discuss tax administration reforms in Ghana, emphasizing challenges and key issues, and how to make reforms effective. Discuss the role and relationship between tax policy, tax legislation, and administration, including identifying problems to be addressed by tax policy and legislation, guiding principles of the Ghanaian tax system, selecting the right tax system, and taxation as a tool for economic management and development. | 10 |
| B. Business Income Tax | Explain the various income tax bases (chargeable incomes), including identifying and describing various sources of income tax base, identifying incomes, amounts, and persons exempt from taxes, explaining allowable deductions using general rules, residual deduction rules, and specific rules, and identifying rules on capital allowance and computing capital allowance. Explain and compute the tax liabilities of individual companies and groups of companies, including the scope of income tax, taxable total profits, comprehensive computation of taxable income and income tax liabilities including capital allowances, the effect of a group corporate structure for corporate tax purposes, the use of exemptions and reliefs in deferring and minimizing income tax liabilities, taxation of insurance companies, taxation of trust companies, taxation of charitable organizations, and property and investment income. Explain and compute the tax liabilities of partners in partnership companies, including partnership income or loss, taxation of partners, and cost of and consideration received for partnership interest. | 15 |
| C. Fiscal Policy | Understand and apply fiscal policy measures in relation to taxation as a tool for economic development, including main types of fiscal policy (expansionary and contractionary), explanation of the use and application of taxation as a tool of fiscal policy to stabilize the economy, analysis of public debt as an alternative to taxation, its causes, and consequences, examination of inter-governmental fiscal relations and Ghana’s experience with revenue allocation, and evaluation of the theory and practice of grants in relation to local governments. | 10 |
| D. Taxation of Natural Resources | Understand and explain the taxation of mining and minerals, including explanation of provisions in the administration of mining and minerals, computation of royalty payable, corporate tax payable by mining companies, computation of capital allowances, taxation of rehabilitation and decommissioning activities, treatment of losses, and assignment of interest. Understand and explain the taxation of petroleum activities, including discussion of various revenues available to government from petroleum exploration and production, upstream petroleum operations, taxation of upstream, taxation of gains on assignment, distribution of oil to stakeholders, government take, different contractual obligations, computation of capital allowances, taxation of subcontractors, and Petroleum Revenue Management Law. | 15 |
| E. Tax Planning and Ethics | Provide advice on minimizing and/or deferring tax liabilities using standard tax planning measures, including types of investment and other expenditures that will result in a reduction in tax liabilities for an individual and/or a business, legitimate tax planning measures by which tax liabilities arising from a particular situation or course of action can be mitigated, the appropriateness of such investment, expenditure, or measures given a particular taxpayer’s circumstances or stated objectives, the mitigation of tax in the manner recommended by reference to numerical analysis and/or reasoned argument, and tax incentives for various business sectors, including Free Zones, Ghana Investment Promotion Council, and their influence on business setup options, support to local and foreign investors, and approaches to availing a business of tax incentives. Identify and evaluate the impact of relevant taxes on various situations and courses of action, including taxes applicable to a given situation or course of action and their impact, alternative ways of achieving personal or business outcomes leading to different tax consequences, taxation effects of financial decisions made by businesses and by individuals, tax advantages and/or disadvantages of alternative courses of action, and statutory obligations imposed in a given situation, including any time limits for action and the implication of non-compliance. Discuss the differences between tax avoidance and tax evasion, emphasizing common ways by which taxpayers commit tax evasion, tax avoidance strategies, and anti-avoidance schemes. Discuss ethical issues relating to tax planning and tax avoidance, including what a tax practitioner should do when there is a conflict of interest, ethical and professional issues arising from the giving of tax planning advice, identifying and explaining the relevance, importance, and consequences of ethical and legal issues including interpretation of tax statutes, recommending and justifying appropriate actions where ethical dilemmas arise in a given scenario, approval and signing of tax returns by a tax practitioner, disclosure of tax information, tax advice and the tax consultant, the different roles of a tax adviser, and actions where the client refuses to disclose irregularity. | 15 |
| F. Transaction Taxes | Advise on VAT computations and other transaction taxes, including explaining the concept of Value Added Tax with reference to taxable person and taxable activity, VAT registration, supply of goods and services, taxable supplies, taxable value, calculation of tax payable and refunds. Explain the concept of customs duty and tax, including assessment of duties, types and methods of valuation under the customs administration. | 15 |
| G. Emerging and Current Trends in Taxation | Discuss and explain current and emerging trends in taxation, including e-Commerce taxation, current issues in transfer pricing including thin capitalization and income splitting, the Africa Continental Free Trade Area (AfCFTA), appreciation of the tax effect of AfCFTA and ways to improve domestic taxation, digitization in tax administration, discussion of the overview of technological impact on tax practice and administration, taxation implication of mergers, amalgamations, reorganizations, and business acquisitions, and development on any of the issues narrated in the syllabus. | 10 |
| H. International Taxation | Discuss issues relating to international taxation, including permanent establishment and its tax implication, evaluating the meaning and implication of permanent establishment, double taxation treaties including types of double taxation treaties (economic and juridical), benefits and problems of double taxation, and trading in Ghana and trading with Ghana. | 10 |
