Direct Tax – Knowsia

POT – Mar 2025 – L2 – Q1- Ghana Tax Structure

Explain the nature of Ghana's tax structure with examples focusing on tax classification and calculation methods.

Question

a) Tax imposes a burden on the tax payer. The type and nature of the burden depends on the tax structure that is being used in a jurisdiction. Ghana’s case is no different.

Required: Explain the nature of Ghana’s Tax Structure with applicable examples.

b) The Ghana Revenue Authority has recently made some major tax reforms in its tax administration efforts. These, by and large, have created convenience to the tax paying community.

Required:

i) State FOUR areas that would usually need tax reforms.

ii) State SIX reforms that have been made to tax administration in Ghana over the years.

Answer

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Tags: Direct Tax, Ghana tax system, Indirect Tax, Progressive Tax, Proportional Tax, Regressive Tax, Tax Structure
Level: Level 2

Topic: Tax Classificatio
Series: MAR 2025

PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation

Compute VAT and direct tax withheld on a taxable supply of medical consumables to a tax withholding agent.

Question

Charley Chemist LTD made a taxable supply of medical consumables amounting to GH¢750,000 exclusive of VAT and levies on 23 November 2023 to the University of Ghana Medical Centre. The University of Ghana Medical Centre is a withholding tax agent for both VAT withholding and Direct Tax withholding.

Required:
i) Compute the amount of VAT withheld by the University of Ghana Medical Center.
ii) Compute the amount of direct tax withheld by the University of Ghana Medical Centre.

Answer

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Tags: Direct Tax, Medical Supplies, Tax Agent, Tax Compliance, Tax computation, Tax deduction, VAT, VAT Withholding, Withholding Tax
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties, Withholding Tax Administration
Series: Nov 2024

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

Question

Mr. Adele has just retired from the public service and is trying to venture into business. He is, however, concerned about the taxes that may affect his new business. As the tax consultant to Mr. Adele, he wants you to explain some terminologies to enable him to have a better understanding of them.

Required:

Explain the following:

(i) Proportional tax and progressive tax (2 Marks)
(ii) Direct tax and indirect tax (2 Marks)
(iii) Statute laws and case laws (2 Marks)
(iv) Franked investment income (3 Marks)
(v) Taxes collectible by local governments (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Case Law, Direct Tax, Franked Investment Income, Indirect Tax, Local Government Taxes, Progressive Tax, Proportional Tax, Statute Law
Level: Level 2

Topic: Introduction to Taxation, The Nigerian Tax System
Series: MAY 2019

POT – Mar 2025 – L2 – Q1- Ghana Tax Structure

Explain the nature of Ghana's tax structure with examples focusing on tax classification and calculation methods.

Question

a) Tax imposes a burden on the tax payer. The type and nature of the burden depends on the tax structure that is being used in a jurisdiction. Ghana’s case is no different.

Required: Explain the nature of Ghana’s Tax Structure with applicable examples.

b) The Ghana Revenue Authority has recently made some major tax reforms in its tax administration efforts. These, by and large, have created convenience to the tax paying community.

Required:

i) State FOUR areas that would usually need tax reforms.

ii) State SIX reforms that have been made to tax administration in Ghana over the years.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Direct Tax, Ghana tax system, Indirect Tax, Progressive Tax, Proportional Tax, Regressive Tax, Tax Structure
Level: Level 2

Topic: Tax Classificatio
Series: MAR 2025

PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation

Compute VAT and direct tax withheld on a taxable supply of medical consumables to a tax withholding agent.

Question

Required:
i) Compute the amount of VAT withheld by the University of Ghana Medical Center.
ii) Compute the amount of direct tax withheld by the University of Ghana Medical Centre.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Direct Tax, Medical Supplies, Tax Agent, Tax Compliance, Tax computation, Tax deduction, VAT, VAT Withholding, Withholding Tax
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties, Withholding Tax Administration
Series: Nov 2024

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

Question

Required:

Explain the following:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Case Law, Direct Tax, Franked Investment Income, Indirect Tax, Local Government Taxes, Progressive Tax, Proportional Tax, Statute Law
Level: Level 2

Topic: Introduction to Taxation, The Nigerian Tax System
Series: MAY 2019

Question Tag: Direct Tax

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POT – Mar 2025 – L2 – Q1- Ghana Tax Structure

Explain the nature of Ghana's tax structure with examples focusing on tax classification and calculation methods.

PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation

Compute VAT and direct tax withheld on a taxable supply of medical consumables to a tax withholding agent.

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

POT – Mar 2025 – L2 – Q1- Ghana Tax Structure

Explain the nature of Ghana's tax structure with examples focusing on tax classification and calculation methods.

PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation

Compute VAT and direct tax withheld on a taxable supply of medical consumables to a tax withholding agent.

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

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POT – Mar 2025 – L2 – Q1- Ghana Tax Structure

Explain the nature of Ghana's tax structure with examples focusing on tax classification and calculation methods.

You're reporting an error for "POT – Mar 2025 – L2 – Q1- Ghana Tax Structure"

PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation

Compute VAT and direct tax withheld on a taxable supply of medical consumables to a tax withholding agent.

You're reporting an error for "PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation"

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

You're reporting an error for "TAX – May 2019 – L2 – Q7a – Introduction to Taxation"

POT – Mar 2025 – L2 – Q1- Ghana Tax Structure

Explain the nature of Ghana's tax structure with examples focusing on tax classification and calculation methods.

You're reporting an error for "POT – Mar 2025 – L2 – Q1- Ghana Tax Structure"

PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation

Compute VAT and direct tax withheld on a taxable supply of medical consumables to a tax withholding agent.

You're reporting an error for "PT – Nov 2024 – L2 – Q5b – Withholding Tax & VAT Calculation"

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

You're reporting an error for "TAX – May 2019 – L2 – Q7a – Introduction to Taxation"

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