- 20 Marks
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.
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
