Anti-Avoidance – NBC Institute

ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies

Discusses tax planning concepts, anti-avoidance measures, tax evasion, double taxation, and non-tax factors influencing investor choices.

Question

Zezee Nigeria Limited was incorporated on September 7, 2012, but did not commence business until July 1, 2013. Based on its Memorandum and Articles of Association, the company was established to carry on distributorship and general contracting.

Extracts from Statements of Profit or Loss and Other Comprehensive Income:

Additional information:

(i) Other Income comprises:

(ii) Administrative expenses include:

(iii) Details of Property, Plant and Equipment are as follows:

(iv) On January 2, 2015, the company bought another Motor
vehicle for N1,800,000

(v) Extracts of the Statements of Financial Position are given below:

You were recently appointed the Tax Consultant to the company. The directors sought your advice on whether or not to exercise the company’s right of election for the relevant years of assessment.
For all the relevant years of assessment, you are required to:
a. Compute the Adjusted Profit/Loss. (9 Marks)
b. Determine the Assessable Profit/Loss and advise the Company on whether or not to exercise its right of election. (6 Marks)
c. Compute the capital allowances. (4½ Marks)
d. Compute the tax liabilities. (10½ Marks)

Answer

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Tags: Anti-Avoidance, Double Taxation, Investment Tax Factors, Tax Evasion, Tax Planning
Level: Level 3

Topic: Taxation of Companies

AT – July 2023 – L3 – Q2c – Anti-avoidance measures

Explaining the effectiveness of the Transactional Net Margin Method in combating pricing abuse.

Question

Transactional Net Margin Method under transfer pricing has proven useful in combating abuse and manipulation in the invoicing regime in the commercial world.

Required:
What makes the Transactional Net Margin Method very effective?

Answer

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Tags: Anti-Avoidance, Tax adjustment, Transactional Net Margin Method, Transfer Pricing
Level: Level 3

Series: JULY 2023

AT – March 2023 – L3 – Q2d – Tax administration in Ghana

Discuss the tax implications of a free zone entity exceeding its approved local sales quota.

Question

Koliko Ltd established a free zone entity in Ghana and got approval to sell 20% locally and export the rest from the Minister of Trade. Contrary to the approval, Koliko Ltd decided to export 60% and sell 40% of its produce into the local market.

According to the Board Chairman of the company, this was wrong and that the Ghana Revenue Authority would consider the whole arrangement as artificial since the company departed from the approval by the Ministry of Trade.

Required:
What is the tax implication of the above arrangement?

Answer

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Tags: Anti-Avoidance, Corporate Tax, Free zones, Local sales
Level: Level 3

Series: MAR 2023

AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures

Explain the objectives of Ghana’s Transfer Pricing Regulations and the concept of the arm’s length principle.

Question

The Ghanaian Government, worried by the rising incidence of Transfer Pricing abuses by Multinational and Group Companies, introduced new transfer pricing rules and guidelines through Transfer Pricing Regulations, 2012 (LI 2188).

Required:

i) Explain any FOUR (4) objectives of the transfer pricing regulations of Ghana. (6 marks)

ii) Explain the arm’s length principle. (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Anti-Avoidance, Arm's Length Principle, Tax Regulations, Transfer Pricing
Level: Level 3

Topic: Anti-avoidance measures
Series: NOV 2019

ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies

Discusses tax planning concepts, anti-avoidance measures, tax evasion, double taxation, and non-tax factors influencing investor choices.

Question

Extracts from Statements of Profit or Loss and Other Comprehensive Income:

Additional information:

(i) Other Income comprises:

(ii) Administrative expenses include:

(iii) Details of Property, Plant and Equipment are as follows:

(iv) On January 2, 2015, the company bought another Motor
vehicle for N1,800,000

(v) Extracts of the Statements of Financial Position are given below:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Anti-Avoidance, Double Taxation, Investment Tax Factors, Tax Evasion, Tax Planning
Level: Level 3

Topic: Taxation of Companies

AT – July 2023 – L3 – Q2c – Anti-avoidance measures

Explaining the effectiveness of the Transactional Net Margin Method in combating pricing abuse.

Question

Transactional Net Margin Method under transfer pricing has proven useful in combating abuse and manipulation in the invoicing regime in the commercial world.

Required:
What makes the Transactional Net Margin Method very effective?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Anti-Avoidance, Tax adjustment, Transactional Net Margin Method, Transfer Pricing
Level: Level 3

Series: JULY 2023

AT – March 2023 – L3 – Q2d – Tax administration in Ghana

Discuss the tax implications of a free zone entity exceeding its approved local sales quota.

Question

Required:
What is the tax implication of the above arrangement?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Anti-Avoidance, Corporate Tax, Free zones, Local sales
Level: Level 3

Series: MAR 2023

AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures

Explain the objectives of Ghana’s Transfer Pricing Regulations and the concept of the arm’s length principle.

Question

Required:

i) Explain any FOUR (4) objectives of the transfer pricing regulations of Ghana. (6 marks)

ii) Explain the arm’s length principle. (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Anti-Avoidance, Arm's Length Principle, Tax Regulations, Transfer Pricing
Level: Level 3

Topic: Anti-avoidance measures
Series: NOV 2019

Question Tag: Anti-Avoidance

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ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies

Discusses tax planning concepts, anti-avoidance measures, tax evasion, double taxation, and non-tax factors influencing investor choices.

AT – July 2023 – L3 – Q2c – Anti-avoidance measures

Explaining the effectiveness of the Transactional Net Margin Method in combating pricing abuse.

AT – March 2023 – L3 – Q2d – Tax administration in Ghana

Discuss the tax implications of a free zone entity exceeding its approved local sales quota.

AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures

Explain the objectives of Ghana’s Transfer Pricing Regulations and the concept of the arm’s length principle.

ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies

Discusses tax planning concepts, anti-avoidance measures, tax evasion, double taxation, and non-tax factors influencing investor choices.

AT – July 2023 – L3 – Q2c – Anti-avoidance measures

Explaining the effectiveness of the Transactional Net Margin Method in combating pricing abuse.

AT – March 2023 – L3 – Q2d – Tax administration in Ghana

Discuss the tax implications of a free zone entity exceeding its approved local sales quota.

AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures

Explain the objectives of Ghana’s Transfer Pricing Regulations and the concept of the arm’s length principle.

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Question Tag: Anti-Avoidance

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ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies

Discusses tax planning concepts, anti-avoidance measures, tax evasion, double taxation, and non-tax factors influencing investor choices.

You're reporting an error for "ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies"

AT – July 2023 – L3 – Q2c – Anti-avoidance measures

Explaining the effectiveness of the Transactional Net Margin Method in combating pricing abuse.

You're reporting an error for "AT – July 2023 – L3 – Q2c – Anti-avoidance measures"

AT – March 2023 – L3 – Q2d – Tax administration in Ghana

Discuss the tax implications of a free zone entity exceeding its approved local sales quota.

You're reporting an error for "AT – March 2023 – L3 – Q2d – Tax administration in Ghana"

AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures

Explain the objectives of Ghana’s Transfer Pricing Regulations and the concept of the arm’s length principle.

You're reporting an error for "AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures"

ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies

Discusses tax planning concepts, anti-avoidance measures, tax evasion, double taxation, and non-tax factors influencing investor choices.

You're reporting an error for "ATAX – Nov 2016 – L3 – Q1 – Taxation of Companies"

AT – July 2023 – L3 – Q2c – Anti-avoidance measures

Explaining the effectiveness of the Transactional Net Margin Method in combating pricing abuse.

You're reporting an error for "AT – July 2023 – L3 – Q2c – Anti-avoidance measures"

AT – March 2023 – L3 – Q2d – Tax administration in Ghana

Discuss the tax implications of a free zone entity exceeding its approved local sales quota.

You're reporting an error for "AT – March 2023 – L3 – Q2d – Tax administration in Ghana"

AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures

Explain the objectives of Ghana’s Transfer Pricing Regulations and the concept of the arm’s length principle.

You're reporting an error for "AT – Nov 2019 – L3 – Q3a – Anti-avoidance measures"

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