- 10 Marks
PT – Nov 2024 – L2 – Q3a – Tax Treatment of Employee Compensation
Explains the tax treatment of various types of employee compensation under the Income Tax Act, 2015 (Act 896).
Question
Describe the tax treatment of the following transactions in the context of the Income Tax Act, 2015 (Act 896).
i) Payment of GH¢2,500 salary for a casual worker in the month of Feb 2024.
ii) Payment of Bonus of GH¢32,000 to an employee with an Annual Basic salary of GH¢180,000.
iii) Payment of GH¢3,200 to a temporary worker in the month of July 2024.
iv) Payment of income to a non-resident employee in Ghana.
v) Redundancy payment to an employee.
Find Related Questions by Tags, levels, etc.
- Tags: Bonus Taxation, Employee Compensation, Income Tax, Non-resident taxation, Redundancy
- Level: Level 2
- Topic: Income Tax Liabilities
- Series: Nov 2024
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