Tax residency – Knowsia

STP – Aug 2016 – L2 – Q4 – Bonded Warehouses

Discuss advantages and disadvantages of bonded warehouses for tax payments.

Question

(a) Does your country have bonded warehouses in which goods may be stored without triggering a taxable presence?

Required
Discuss three advantages and three disadvantages that the operation of a bonded warehouse will extend to traders in the payment of taxes.

b) Professor Zoel is a visiting professor from the University of South Africa, on sabbaticals in Ghana. He was invited by the head of the Business School, Angella University here in Ghana on 1 January 2016. After a three week closed door brush up, he was persuaded by his host, Prof Mensah, to fill in a vacancy in the department and also to stay in Ghana to the end of his sabbaticals. Prof Zoel has decided to take up the teaching appointment with Angella University.
AngellaUniversity intends to pay Prof Zoel from grants received from Columbia University (USA) marked for a special research work in Ghana. Prof Mensah has assured Prof Zoel that his (Prof Zoel) pay will be paid in USD directly to his bank account in South Africa. Prof Zoel will also receive standard benefit package in cash (relocation allowance, Ghana business travel expense allowance, accommodation, etc.) which will be paid/given to him in Ghana by Angella University.
His salary will be paid by Columbia University on a bimonthly basis and there will be no chargeback of any cost to any other location.

Prof Zoel finds his new working conditions particularly rewarding since he will additionally receive his full Professor’s salary as normally paid by his mother University employer in South Africa.

Prof Zoel is a little disturbed because he was not sure about the tax implications of his combined multiple salaries as he earns allowances in Ghana, is paid by Columbia University for work done in Ghana into his bank account in South Africa and additionally earns his professorial salary in South Africa.

As a Chartered Tax Advisor, Prof Zoel has referred this apparent tax difficulty to you for your advice. Prof Zoel intends to live the full term of his sabbaticals in Ghana which could run for at least 2 years.

Required:
Kindly identify and advise Prof Zoel on the tax implications of his entire earnings for this sabbatical in Ghana.

Answer

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Tags: Double Taxation, Expatriate Income, Ghana, Payroll Tax, Tax residency
Level: Level 2

Topic: Tax Administration and Management
Series: AUG 2016

TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)

This question requires explaining key terms related to tax residence and nationality under the Personal Income Tax Act (as amended).

Question

Explain the following terms in relation to the First Schedule to the Personal Income Tax Act 2011 (as amended):
i. Resident individual
ii. Non-resident individual
iii. Residence and nationality
iv. Place of residence
v. Principal place of residence

Answer

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Tags: : Principal Place of Residence, Non-Resident Individual, Personal Income Tax Act, Resident Individual, Tax Concepts, Tax residency
Level: Level 2

Topic: Personal Income Tax
Series: NOV 2015

TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)

This question requires determining the appropriate tax authority for an individual with multiple places of residence.

Question

Mr. Abass works with the Federal Ministry of Works, Abuja. He lives in a self-contained flat in Gwagwalada and travels every weekend to see his first wife and children in Kaduna. He also visits and stays with his second wife and children in Nyanya, Nassarawa State on Thursdays and Fridays of every week.

Required:
Determine the tax authority to which Mr. Abass would be liable to tax in any year of assessment.

Answer

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Tags: : Principal Place of Residence, Multiple Residences, Nigerian Tax Law, Tax authority, Tax residency
Level: Level 2

Topic: Personal Income Tax
Series: NOV 2015

TAX – Nov 2015 – L2 – Q4a – International Taxation

This question explains the tax treatment of income earned by a non-resident individual who has spent time in Nigeria.

Question

Mr. Alexis Sanchez was employed by Zenon Ltd as Director Commercial, West and Central Africa with effect from 1 March 2011. He entered Nigeria on the date his employment became effective and remained in Nigeria till 25 August 2011. He returned to Nigeria on 15 January 2012, and remained in Nigeria till 31 July 2012.

Required:
Explain the basis for the taxation of income earned by Mr. Alexis Sanchez in Nigeria for the relevant tax years.

Answer

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Tags: Employment Income, Non-resident, Personal Income Tax Act (PITA), Tax residency
Level: Level 2

Topic: International taxation
Series: NOV 2015

AT – March 2023 – L3 – Q3a – International taxation

Evaluate the taxation of global income of Ghanaian businesses in accordance with the Income Tax Act, 2015 (Act 896).

Question

In an ICAG taxation lecture, the class captain said he read an article from the internet that states, “Ghanaian business entities which conduct businesses across the globe are subject to tax in Ghana.”

This statement ignited a debate in the class. Your class lecturer walked into the classroom to witness this argument and decided to show interest in the topic. He has asked that the class should take up the issue as a class assignment.

Required:
Evaluate this statement in the light of the Income Tax Act, 2015 (Act 896).

Answer

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Tags: Corporate Taxation, Global income, Tax residency
Level: Level 3

Topic: International taxation
Series: MAR 2023

STP – Aug 2016 – L2 – Q4 – Bonded Warehouses

Discuss advantages and disadvantages of bonded warehouses for tax payments.

Question

(a) Does your country have bonded warehouses in which goods may be stored without triggering a taxable presence?

Required
Discuss three advantages and three disadvantages that the operation of a bonded warehouse will extend to traders in the payment of taxes.

Prof Zoel finds his new working conditions particularly rewarding since he will additionally receive his full Professor’s salary as normally paid by his mother University employer in South Africa.

Required:
Kindly identify and advise Prof Zoel on the tax implications of his entire earnings for this sabbatical in Ghana.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Double Taxation, Expatriate Income, Ghana, Payroll Tax, Tax residency
Level: Level 2

Topic: Tax Administration and Management
Series: AUG 2016

TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)

This question requires explaining key terms related to tax residence and nationality under the Personal Income Tax Act (as amended).

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: : Principal Place of Residence, Non-Resident Individual, Personal Income Tax Act, Resident Individual, Tax Concepts, Tax residency
Level: Level 2

Topic: Personal Income Tax
Series: NOV 2015

TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)

This question requires determining the appropriate tax authority for an individual with multiple places of residence.

Question

Required:
Determine the tax authority to which Mr. Abass would be liable to tax in any year of assessment.

Answer

Find Related Questions by Tags, levels, etc.

Tags: : Principal Place of Residence, Multiple Residences, Nigerian Tax Law, Tax authority, Tax residency
Level: Level 2

Topic: Personal Income Tax
Series: NOV 2015

TAX – Nov 2015 – L2 – Q4a – International Taxation

This question explains the tax treatment of income earned by a non-resident individual who has spent time in Nigeria.

Question

Required:
Explain the basis for the taxation of income earned by Mr. Alexis Sanchez in Nigeria for the relevant tax years.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Employment Income, Non-resident, Personal Income Tax Act (PITA), Tax residency
Level: Level 2

Topic: International taxation
Series: NOV 2015

AT – March 2023 – L3 – Q3a – International taxation

Evaluate the taxation of global income of Ghanaian businesses in accordance with the Income Tax Act, 2015 (Act 896).

Question

Required:
Evaluate this statement in the light of the Income Tax Act, 2015 (Act 896).

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Taxation, Global income, Tax residency
Level: Level 3

Topic: International taxation
Series: MAR 2023

Question Tag: Tax residency

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STP – Aug 2016 – L2 – Q4 – Bonded Warehouses

Discuss advantages and disadvantages of bonded warehouses for tax payments.

TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)

This question requires explaining key terms related to tax residence and nationality under the Personal Income Tax Act (as amended).

TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)

This question requires determining the appropriate tax authority for an individual with multiple places of residence.

TAX – Nov 2015 – L2 – Q4a – International Taxation

This question explains the tax treatment of income earned by a non-resident individual who has spent time in Nigeria.

AT – March 2023 – L3 – Q3a – International taxation

Evaluate the taxation of global income of Ghanaian businesses in accordance with the Income Tax Act, 2015 (Act 896).

STP – Aug 2016 – L2 – Q4 – Bonded Warehouses

Discuss advantages and disadvantages of bonded warehouses for tax payments.

TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)

This question requires explaining key terms related to tax residence and nationality under the Personal Income Tax Act (as amended).

TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)

This question requires determining the appropriate tax authority for an individual with multiple places of residence.

TAX – Nov 2015 – L2 – Q4a – International Taxation

This question explains the tax treatment of income earned by a non-resident individual who has spent time in Nigeria.

AT – March 2023 – L3 – Q3a – International taxation

Evaluate the taxation of global income of Ghanaian businesses in accordance with the Income Tax Act, 2015 (Act 896).

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STP – Aug 2016 – L2 – Q4 – Bonded Warehouses

Discuss advantages and disadvantages of bonded warehouses for tax payments.

You're reporting an error for "STP – Aug 2016 – L2 – Q4 – Bonded Warehouses"

TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)

This question requires explaining key terms related to tax residence and nationality under the Personal Income Tax Act (as amended).

You're reporting an error for "TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)"

TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)

This question requires determining the appropriate tax authority for an individual with multiple places of residence.

You're reporting an error for "TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)"

TAX – Nov 2015 – L2 – Q4a – International Taxation

This question explains the tax treatment of income earned by a non-resident individual who has spent time in Nigeria.

You're reporting an error for "TAX – Nov 2015 – L2 – Q4a – International Taxation"

AT – March 2023 – L3 – Q3a – International taxation

Evaluate the taxation of global income of Ghanaian businesses in accordance with the Income Tax Act, 2015 (Act 896).

You're reporting an error for "AT – March 2023 – L3 – Q3a – International taxation"

STP – Aug 2016 – L2 – Q4 – Bonded Warehouses

Discuss advantages and disadvantages of bonded warehouses for tax payments.

You're reporting an error for "STP – Aug 2016 – L2 – Q4 – Bonded Warehouses"

TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)

This question requires explaining key terms related to tax residence and nationality under the Personal Income Tax Act (as amended).

You're reporting an error for "TAX – Nov 2015 – L2 – Q4c – Personal Income Tax (PIT)"

TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)

This question requires determining the appropriate tax authority for an individual with multiple places of residence.

You're reporting an error for "TAX – Nov 2015 – L2 – Q4b – Personal Income Tax (PIT)"

TAX – Nov 2015 – L2 – Q4a – International Taxation

This question explains the tax treatment of income earned by a non-resident individual who has spent time in Nigeria.

You're reporting an error for "TAX – Nov 2015 – L2 – Q4a – International Taxation"

AT – March 2023 – L3 – Q3a – International taxation

Evaluate the taxation of global income of Ghanaian businesses in accordance with the Income Tax Act, 2015 (Act 896).

You're reporting an error for "AT – March 2023 – L3 – Q3a – International taxation"

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