VAT Act – Knowsia

STP – Feb 2018 – L2 – Q3 – Tax Administration

Explain categories of tax representatives for companies and local authorities under VAT Act 870, and their responsibilities.

Question

The VAT Act, 2013 (Act 870) accepts that tax consultants may act in a representative capacity for and on behalf of the substantive taxpayer. This provision in the law encourages and accepts the professional development of private tax practitioners but lays down the specific parameters which would qualify such professionals to act as taxpayers’ representatives.

As the Tax Partner for ABC Practice Firm, a new entrant of the firm has approached you with a request to educate him on the types of persons who can act in a representative capacity for an on behalf of the taxpayer.

Required a) With reference to the provisions of Act 870, specify the categories of persons who qualify to be declared by the Commissioner-General as a representative person of: i. a Company; ii. a Local Authority? b) What are the responsibilities of the tax representative of a taxable person?

Answer

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Tags: Commissioner-General, Company Taxation, Local Authority, Tax Representative, Taxpayer Representation, VAT Act
Level: Level 2

Topic: Tax Administration and Management
Series: FEBRUARY 2018

STP – Feb 2018 – L2 – Q2 – VAT Credit Notes

Explain circumstances for issuing VAT Credit Notes and tax implications for prior period supplies.

Question

a) As a Tax Consultant, you receive a note from Mr. Emilio Ditto, the Managing Director of a company based in the United Kingdom seeking to expand its operations in Africa through the opening of an office in Accra. He is interested in discussing with you details of some aspects of the VAT regime in Ghana particularly, the basic VAT concepts on the following:
(i) Under what circumstances can a VAT-registered person issue a Credit Note to cancel or amend a VAT invoice?
(ii) What are the tax liability implications for a VAT-registered person who issues a Credit Note to a customer for a supply that was made in a previous tax period?

Required:
Provide a brief for Mr. Emilio Ditto giving your responses to the issues raised above, with reference to the VAT Act, 2013 (Act 870) as amended.

b) Under the provisions of the Excise Duty Act, 2014 (Act 878), the Commissioner-General may, based on any information available, make an assessment of the amount of excise duty payable by a person.

Required:
State four (4) different circumstances under which the Commissioner-General may exercise the discretion to make an assessment of the excise duty payable by a person.

Answer

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Tags: Credit Notes, Ghana Revenue Authority, Indirect Taxes, Tax Compliance, VAT, VAT Act
Level: Level 2

Topic: Strategic Indirect Tax Management
Series: FEBRUARY 2018

ATP – Feb 2020 – L2 – Q1 – Indirect Taxes

Compute GET Fund, NHIL, and VAT payable for Nyameaye Limited for January 2019.

Question

a) Nyameaye Limited is a company registered under the Companies Act 1963, Act 179 and has been in consultancy business over the years. The company has been registered to operate as a Value Added Tax (VAT) registered company, since it deals in both taxable and non-taxable supplies.

The company’s operations for January, 2019 were as follows:

	GH¢
Total value of taxable supplies invoiced (VAT inclusive)	4,353,372
Input Tax on Taxable Supplies	460,317
Value of Exempt Supplies	360,000
Purchase of double cabin Toyota Pick Up (VAT exclusive)	240,000
Value of relief Supplies	108,400

Your review of the invoices showed that VAT and other levies on the Toyota pick-up and hotel bills of GH¢1,880.00 were included in the Input Tax on Taxable supplies.

Required:
Compute the GET Fund Levy, National Health Insurance Levy (NHIL) and VAT payable for the month of January, 2019.

b)i. State and explain the treatments of transactions and filing of returns in respect of the following legislations: Value Added Tax Act, (Act 870); GET Fund levy Act, 2000 (Act 581) and National Health Insurance Levy Act, 2003 (Act 650).

ii. Concisely, outline how taxes are computed and filed under the following Amendment Acts: VAT (Amendment) Acts, 2018 (Act 970), and National Health Insurance Levy (Amendment) Act, 2018 (Act 971); GET Fund (Amendment) Act, 2018 (Act 972).

Answer

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Tags: Amendments, GET Fund, NHIL, Tax Returns, VAT Act
Level: Level 2

Topic: Indirect Taxes
Series: FEB 2020

PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)

Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).

Question

b) What constitutes supply of services under the VAT Act 870 (Act 2013)?
(4 marks)

Answer

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Tags: Supply of Services, Taxable services, VAT Act, VAT on services

Topic: Taxation of Services, Value-Added Tax (VAT)
Series: APR 2022

STP – Feb 2018 – L2 – Q3 – Tax Administration

Explain categories of tax representatives for companies and local authorities under VAT Act 870, and their responsibilities.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Commissioner-General, Company Taxation, Local Authority, Tax Representative, Taxpayer Representation, VAT Act
Level: Level 2

Topic: Tax Administration and Management
Series: FEBRUARY 2018

STP – Feb 2018 – L2 – Q2 – VAT Credit Notes

Explain circumstances for issuing VAT Credit Notes and tax implications for prior period supplies.

Question

Required:
Provide a brief for Mr. Emilio Ditto giving your responses to the issues raised above, with reference to the VAT Act, 2013 (Act 870) as amended.

b) Under the provisions of the Excise Duty Act, 2014 (Act 878), the Commissioner-General may, based on any information available, make an assessment of the amount of excise duty payable by a person.

Required:
State four (4) different circumstances under which the Commissioner-General may exercise the discretion to make an assessment of the excise duty payable by a person.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Credit Notes, Ghana Revenue Authority, Indirect Taxes, Tax Compliance, VAT, VAT Act
Level: Level 2

Topic: Strategic Indirect Tax Management
Series: FEBRUARY 2018

ATP – Feb 2020 – L2 – Q1 – Indirect Taxes

Compute GET Fund, NHIL, and VAT payable for Nyameaye Limited for January 2019.

Question

The company’s operations for January, 2019 were as follows:

	GH¢
Total value of taxable supplies invoiced (VAT inclusive)	4,353,372
Input Tax on Taxable Supplies	460,317
Value of Exempt Supplies	360,000
Purchase of double cabin Toyota Pick Up (VAT exclusive)	240,000
Value of relief Supplies	108,400

Your review of the invoices showed that VAT and other levies on the Toyota pick-up and hotel bills of GH¢1,880.00 were included in the Input Tax on Taxable supplies.

Required:
Compute the GET Fund Levy, National Health Insurance Levy (NHIL) and VAT payable for the month of January, 2019.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Amendments, GET Fund, NHIL, Tax Returns, VAT Act
Level: Level 2

Topic: Indirect Taxes
Series: FEB 2020

PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)

Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).

Question

b) What constitutes supply of services under the VAT Act 870 (Act 2013)?
(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Supply of Services, Taxable services, VAT Act, VAT on services

Topic: Taxation of Services, Value-Added Tax (VAT)
Series: APR 2022

Question Tag: VAT Act

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STP – Feb 2018 – L2 – Q3 – Tax Administration

Explain categories of tax representatives for companies and local authorities under VAT Act 870, and their responsibilities.

STP – Feb 2018 – L2 – Q2 – VAT Credit Notes

Explain circumstances for issuing VAT Credit Notes and tax implications for prior period supplies.

ATP – Feb 2020 – L2 – Q1 – Indirect Taxes

Compute GET Fund, NHIL, and VAT payable for Nyameaye Limited for January 2019.

PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)

Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).

STP – Feb 2018 – L2 – Q3 – Tax Administration

Explain categories of tax representatives for companies and local authorities under VAT Act 870, and their responsibilities.

STP – Feb 2018 – L2 – Q2 – VAT Credit Notes

Explain circumstances for issuing VAT Credit Notes and tax implications for prior period supplies.

ATP – Feb 2020 – L2 – Q1 – Indirect Taxes

Compute GET Fund, NHIL, and VAT payable for Nyameaye Limited for January 2019.

PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)

Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).

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STP – Feb 2018 – L2 – Q3 – Tax Administration

Explain categories of tax representatives for companies and local authorities under VAT Act 870, and their responsibilities.

You're reporting an error for "STP – Feb 2018 – L2 – Q3 – Tax Administration"

STP – Feb 2018 – L2 – Q2 – VAT Credit Notes

Explain circumstances for issuing VAT Credit Notes and tax implications for prior period supplies.

You're reporting an error for "STP – Feb 2018 – L2 – Q2 – VAT Credit Notes"

ATP – Feb 2020 – L2 – Q1 – Indirect Taxes

Compute GET Fund, NHIL, and VAT payable for Nyameaye Limited for January 2019.

You're reporting an error for "ATP – Feb 2020 – L2 – Q1 – Indirect Taxes"

PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)

Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).

You're reporting an error for "PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)"

STP – Feb 2018 – L2 – Q3 – Tax Administration

Explain categories of tax representatives for companies and local authorities under VAT Act 870, and their responsibilities.

You're reporting an error for "STP – Feb 2018 – L2 – Q3 – Tax Administration"

STP – Feb 2018 – L2 – Q2 – VAT Credit Notes

Explain circumstances for issuing VAT Credit Notes and tax implications for prior period supplies.

You're reporting an error for "STP – Feb 2018 – L2 – Q2 – VAT Credit Notes"

ATP – Feb 2020 – L2 – Q1 – Indirect Taxes

Compute GET Fund, NHIL, and VAT payable for Nyameaye Limited for January 2019.

You're reporting an error for "ATP – Feb 2020 – L2 – Q1 – Indirect Taxes"

PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)

Explain what constitutes the supply of services under the VAT Act 870 (Act 2013).

You're reporting an error for "PT – April 2022 – L2 – Q2b – Value Added Tax (VAT)"

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