- 20 Marks
AT – Nov 2020 – L3 – Q1 – Tax administration in Ghana | Business Income – Corporate Income Tax
A report on tax incentives for Free Zone Enterprises, tax implications for local sales, and requirements for foreign investors to start trading in Ghana.
Question
Esther Naah, a Ghanaian by birth, has spent most of her life in the United Kingdom. She has made a lot of savings and would want to invest in Ghana. She has heard of the Ghana Free Zone Authority and been told that the rationale behind the free trade zone is the development of disadvantaged regions. You work in a Tax Consulting firm and your Managing Partner has called on you to brief Esther, on the following issues during her next appointment to the Tax Consulting firm.
Required: Draft a report that will incorporate the following:
a) Tax incentives and benefits for Free Zone Enterprises.
(10 marks)
b) What will be the tax implication if the Free Zone Enterprise sells into the local markets?
(4 marks)
c) What are the requirements a foreigner should meet in order to start a trade in Ghana?
(6 marks)
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