GRA – Knowsia

STP – Aug 2016 – L2 – Q2 – VAT on Imports

Discuss taxable value for VAT on imported goods and services.

Question

VAT is chargeable on imports. The basic information required to facilitate the VAT charge on imported goods and services is the value of the goods or services. At a recent meeting organized by the Ghana National Chamber of Commerce and Industry to educate members on the taxable value for determining the VAT on imported goods and services you, as a renowned tax consultant, were invited to discuss this issue.

The topic you are to speak on is “What is the taxable value for determining the VAT on imported goods and services.

Required
a) As the preferred consultant, please present to the Chamber a discussion paper on the taxable value for determining the VAT on imported goods and services.

b). Also indicate in your presentation the procedures that must be followed before payment of VAT on the import of services is made.

Answer

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Tags: GRA, Import Services, Payment Procedures, Tax Compliance, VAT
Level: Level 2

Topic: Strategic Indirect Tax Management
Series: AUG 2016

TAI – Feb 2020 – Q1- Tax Audit Objectives

Explain four objectives of Ghana Revenue Authority's audit of taxpayer returns and records.

Question

(A) The Ghana Revenue Authority is empowered under the tax laws to audit, or review returns, and information submitted by taxpayers.

Required:
i) Explain briefly four (4) objectives why Ghana Revenue Authority may conduct an audit of a taxpayer’s returns and records.

ii) Mention and explain five (5) circumstances that may necessitate Ghana Revenue Authority to audit the returns and records of a taxpayer.

(B) Your firm is the external auditor of Waheed Engineering Services Limited, a listed company, which has turnover of GH 100 million. The head office site includes the manufacturing unit, the accounting functions and main administration. There are a number of sales offices in different parts of the country.

Your client has received the following letter from the Ghana Revenue Authority, Sunyani Medium Taxpayer Office.

The Managing Director,
Waheed Engineering Services Limited
Kenyasi Ahafo.
Dear Sir,
AUDIT OPERATIONS
This letter serves to introduce to you:
Awura Amma Druwaa: and
Haruna Wahab Rashid.
of the Medium Taxpayer Office, Sunyani who have been assigned to conduct audit verification into the operations of your business vis-à-vis your declaration to the Ghana Revenue Authority. We request in accordance with the Income Tax Act, 2015 (Act 896) and Value Added Tax Act 2013 (Act 870) and accompanying Regulations, you provide them with all relevant information, records and other documents to enable them to complete the assignment on time.

Yours faithfully,

Signed
GRA

Upon receipt of the letter, your client has expressed concerns that, the audit cannot proceed properly because the present condition makes it difficult for him to cooperate and as such, he requests that, the audit should be temporarily suspended. Your client has asked you to write to the Ghana Revenue Authority to that effect.

Required:
i. Discuss five (5) situations which a taxpayer can request temporarily suspension of audit.

ii. State any three (3) rights available to the taxpayer under an audit engagement other than the right to postpone audit engagement.

Answer

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Tags: Audit Objectives, GRA, Tax Audit, Tax Compliance, Taxpayer Returns
Level: Level 1

Topic: Tax Audit Engagements and Investigations
Series: AUGUST 2020

PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Advise Ekumfi Fruit Processing on the conditions required for a VAT refund under the Value Added Tax Act, 2013.

Question

You are a student of taxation at Ebeyeyie Tax Education Institute. You have been contacted for tax advice by Ekumfi Fruit Processing Ghana Ltd. The company produces various kinds of fruit juices for both local and foreign markets. The Finance Director recently learned that the company can apply for VAT refund from the Ghana Revenue Authority (GRA) and has approached you for advice.
Required:
Advise the company on SIX (6) conditions that must be satisfied before the GRA may refund the excess VAT Input Tax to the company under the Value Added Tax Act, 2013 (Act 870), as amended. (9 marks)

Answer

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Tags: GRA, Input VAT, Tax Administration, Tax Refund Conditions, VAT Refund
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: AUG 2022

TX – May 2019 – L3 – Q1c – Tax Planning

Explain the purpose of taxpayer segmentation by the Ghana Revenue Authority.

Question

As part of efficient tax administration, taxpayers have been segmented into Large Taxpayers, Medium Taxpayers, and Small Taxpayers by the Ghana Revenue Authority. In the view of tax reformers, taxpayer segmentation is the way to go in order to grow revenue.

Required:

What purpose does this segmentation seek to achieve?
(4 marks)

Answer

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Tags: GRA, Revenue Growth, Tax Administration, Taxpayer Segmentation
Level: Level 3

Topic: Tax administration in Ghana
Series: MAY 2019

AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana

Write to Commissioner-General about activities reserved for Ghanaians and justification for taxing all businesses regardless of ownership.

Question

Ghana Union Traders Association (GUTA) has expressed their dissatisfaction with the government and the Ghana Revenue Authority (GRA) on handling activities of non- Ghanaians who choose to engage in business reserved for only Ghanaians. They have consequently threatened not to honour their tax obligation until their concerns are addressed.

Required:

Write to the Commissioner-General indicating the areas of activities that are preserved for only Ghanaians and why you think the Commissioner-General is right in taxing all businesses irrespective of their ownership except as exempt by law. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: GRA, GUTA, Non-Ghanaian businesses, Reserved Activities, Tax Administration
Level: Level 3

Topic: Tax administration in Ghana
Series: NOV 2021

STP – Aug 2016 – L2 – Q2 – VAT on Imports

Discuss taxable value for VAT on imported goods and services.

Question

The topic you are to speak on is “What is the taxable value for determining the VAT on imported goods and services.

Required
a) As the preferred consultant, please present to the Chamber a discussion paper on the taxable value for determining the VAT on imported goods and services.

b). Also indicate in your presentation the procedures that must be followed before payment of VAT on the import of services is made.

Answer

Find Related Questions by Tags, levels, etc.

Tags: GRA, Import Services, Payment Procedures, Tax Compliance, VAT
Level: Level 2

Topic: Strategic Indirect Tax Management
Series: AUG 2016

TAI – Feb 2020 – Q1- Tax Audit Objectives

Explain four objectives of Ghana Revenue Authority's audit of taxpayer returns and records.

Question

(A) The Ghana Revenue Authority is empowered under the tax laws to audit, or review returns, and information submitted by taxpayers.

Required:
i) Explain briefly four (4) objectives why Ghana Revenue Authority may conduct an audit of a taxpayer’s returns and records.

ii) Mention and explain five (5) circumstances that may necessitate Ghana Revenue Authority to audit the returns and records of a taxpayer.

Your client has received the following letter from the Ghana Revenue Authority, Sunyani Medium Taxpayer Office.

Yours faithfully,

Signed
GRA

Required:
i. Discuss five (5) situations which a taxpayer can request temporarily suspension of audit.

ii. State any three (3) rights available to the taxpayer under an audit engagement other than the right to postpone audit engagement.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Objectives, GRA, Tax Audit, Tax Compliance, Taxpayer Returns
Level: Level 1

Topic: Tax Audit Engagements and Investigations
Series: AUGUST 2020

PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Advise Ekumfi Fruit Processing on the conditions required for a VAT refund under the Value Added Tax Act, 2013.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: GRA, Input VAT, Tax Administration, Tax Refund Conditions, VAT Refund
Level: Level 2

Topic: Value-Added Tax (VAT), Customs, and Excise Duties
Series: AUG 2022

TX – May 2019 – L3 – Q1c – Tax Planning

Explain the purpose of taxpayer segmentation by the Ghana Revenue Authority.

Question

Required:

What purpose does this segmentation seek to achieve?
(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: GRA, Revenue Growth, Tax Administration, Taxpayer Segmentation
Level: Level 3

Topic: Tax administration in Ghana
Series: MAY 2019

AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana

Write to Commissioner-General about activities reserved for Ghanaians and justification for taxing all businesses regardless of ownership.

Question

Required:

Answer

Find Related Questions by Tags, levels, etc.

Tags: GRA, GUTA, Non-Ghanaian businesses, Reserved Activities, Tax Administration
Level: Level 3

Topic: Tax administration in Ghana
Series: NOV 2021

Question Tag: GRA

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STP – Aug 2016 – L2 – Q2 – VAT on Imports

Discuss taxable value for VAT on imported goods and services.

TAI – Feb 2020 – Q1- Tax Audit Objectives

Explain four objectives of Ghana Revenue Authority's audit of taxpayer returns and records.

PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Advise Ekumfi Fruit Processing on the conditions required for a VAT refund under the Value Added Tax Act, 2013.

TX – May 2019 – L3 – Q1c – Tax Planning

Explain the purpose of taxpayer segmentation by the Ghana Revenue Authority.

AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana

Write to Commissioner-General about activities reserved for Ghanaians and justification for taxing all businesses regardless of ownership.

STP – Aug 2016 – L2 – Q2 – VAT on Imports

Discuss taxable value for VAT on imported goods and services.

TAI – Feb 2020 – Q1- Tax Audit Objectives

Explain four objectives of Ghana Revenue Authority's audit of taxpayer returns and records.

PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Advise Ekumfi Fruit Processing on the conditions required for a VAT refund under the Value Added Tax Act, 2013.

TX – May 2019 – L3 – Q1c – Tax Planning

Explain the purpose of taxpayer segmentation by the Ghana Revenue Authority.

AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana

Write to Commissioner-General about activities reserved for Ghanaians and justification for taxing all businesses regardless of ownership.

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STP – Aug 2016 – L2 – Q2 – VAT on Imports

Discuss taxable value for VAT on imported goods and services.

You're reporting an error for "STP – Aug 2016 – L2 – Q2 – VAT on Imports"

TAI – Feb 2020 – Q1- Tax Audit Objectives

Explain four objectives of Ghana Revenue Authority's audit of taxpayer returns and records.

You're reporting an error for "TAI – Feb 2020 – Q1- Tax Audit Objectives"

PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Advise Ekumfi Fruit Processing on the conditions required for a VAT refund under the Value Added Tax Act, 2013.

You're reporting an error for "PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties"

TX – May 2019 – L3 – Q1c – Tax Planning

Explain the purpose of taxpayer segmentation by the Ghana Revenue Authority.

You're reporting an error for "TX – May 2019 – L3 – Q1c – Tax Planning"

AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana

Write to Commissioner-General about activities reserved for Ghanaians and justification for taxing all businesses regardless of ownership.

You're reporting an error for "AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana"

STP – Aug 2016 – L2 – Q2 – VAT on Imports

Discuss taxable value for VAT on imported goods and services.

You're reporting an error for "STP – Aug 2016 – L2 – Q2 – VAT on Imports"

TAI – Feb 2020 – Q1- Tax Audit Objectives

Explain four objectives of Ghana Revenue Authority's audit of taxpayer returns and records.

You're reporting an error for "TAI – Feb 2020 – Q1- Tax Audit Objectives"

PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties

Advise Ekumfi Fruit Processing on the conditions required for a VAT refund under the Value Added Tax Act, 2013.

You're reporting an error for "PT – Aug 2022 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties"

TX – May 2019 – L3 – Q1c – Tax Planning

Explain the purpose of taxpayer segmentation by the Ghana Revenue Authority.

You're reporting an error for "TX – May 2019 – L3 – Q1c – Tax Planning"

AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana

Write to Commissioner-General about activities reserved for Ghanaians and justification for taxing all businesses regardless of ownership.

You're reporting an error for "AT – NOV 2021 – L3 – Q2a – Tax Administration in Ghana"

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