- 5 Marks
AT – May 2020 – L3 – Q5d – Business income – Corporate income tax
Determine the tax payable by Kankoka, an NGO, on various income sources including support from benefactors, transport business, and government project disbursement.
Question
Kankoka is registered with the Registrar General Department of Ghana as a Non- Governmental Organisation (NGO) and had income amounting to GH¢30,000,000 in 2018 year of assessment.
A detailed analysis reveals the following composition of the income: Support from Benefactor based in Germany GH¢10,000,000 Transport business GH¢10,000,000 Government afforestation project disbursement GH¢10,000,000
Required: Determine the tax payable if any by Kankoka and comment on your answer and state any relevant assumption.
Find Related Questions by Tags, levels, etc.
- Tags: Business income of NGOs, Charitable organization, NGO Taxation
- Level: Level 3
- Topic: Business income - Corporate income tax
- Series: MAY 2020
