- 4 Marks
Question
In tax administration, the Commissioner-General has the mandate to protect revenue collected and collectible. As part of ensuring the protection of revenue, the Commissioner-General has the mandate to re-characterise or disregard any transaction that has the effect of eroding tax gains.
Required:
In accordance with the tax provision, under what circumstances will the Commissioner-General re-characterise any transaction?
(4 marks)
Answer
) The Commissioner-General reserves the right to re-characterise a transaction under
the following circumstances:
- Fictitious or does not have a substantial economic effect
- The form does not reflect its substance
- Artificial
- Anything that is done to avoid or reduce tax liability
- Tags: Commissioner-General, Re-characterisation, Revenue protection, Tax avoidance
- Level: Level 3
- Topic: Tax administration in Ghana
- Series: AUG 2022
- Uploader: Kwame Aikins