Ghana tax laws – NBC Institute

PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities

Compute pension benefit and monthly pension pay based on provided salary and pension contributions.

Question

Mr. John Romeski worked for Aligidon Company Ltd for 25 years and retired at the age of 60. In the last 3 years of his working life, he earned annual salary as follows:

Year	Annual Salary (GH¢)
58th	93,000
59th	96,000
60th	99,000

He has 300 months’ contribution to his credit.

Required:

Assuming he retired under the National Pension Act, 2008 (Act 766), compute his pension benefit and his monthly pension pay. (5 marks)

Answer

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Tags: Ghana tax laws, National Pension Act, Pension benefits, Pension Computation, Retirement
Level: Level 2

Topic: Income Tax Liabilities
Series: DEC 2023

AT – May 2020 – L3 – Q1 – International taxation

Explanation of the concept of permanent establishment in Ghana and the differences between economic and juridical double taxation.

Question

The spectrum of investment opportunities in Ghana has heightened and this has attracted some investors who intend to visit next month to assess the potential for investment. The Ministry of Finance has written to your Tax Consulting Firm to make a presentation on behalf of the Ministry to these Investors. The letter from the Ministry contains in part the following:

“International trade has given persons the ability to carry out separate aspects of their business operations in different countries. Even though it will be inconceivable to compel a person to pay taxes in every country where that person carries out business operations, the level of business activity carried on by a person in a particular country may expose that person to tax liabilities under the laws of that country. In Ghana, assessable income of a non-resident person includes income effectively connected with a Ghanaian permanent establishment of the person irrespective of the source of the income…”

Required: Prepare a report highlighting the following:

a) What constitutes a Ghanaian permanent establishment with reference to the Income Tax Act, 2015 (Act 896)?
(4 marks)

b) Explain the taxation rules on Ghanaian permanent establishment as enshrined in the Income Tax Act, 2015 (Act 896).
(10 marks)

c) There are economic double taxation and juridical double taxation. Explain these TWO (2) concepts of double taxation.
(6 marks)

Answer

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Tags: Business operations, Double Taxation, Ghana tax laws, Permanent Establishment, Tax treaties
Level: Level 3

Topic: International taxation
Series: MAY 2020

AT – March 2023 – L3 – Q2a – Tax administration in Ghana

Discuss the tax position of NGOs in Ghana and their obligations under tax law.

Question

A Pastor of a Church at Kasoa intends to run a Non-Governmental Organisation (NGO) to serve the needs of the catchment area with the hope that it would serve as a springboard to get a lot of people to fellowship with the Church.

The Pastor has invited you as a member of the community to give advice on how to position the NGO in order not to run into problems with the Ghana Revenue Authority in respect of tax issues.

Required:
Discuss the position of the tax laws on Non-Governmental Organisations.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghana tax laws, Non-Governmental Organizations (NGOs), Tax Exemptions
Level: Level 3

Topic: Tax administration in Ghana
Series: MAR 2023

PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities

Compute pension benefit and monthly pension pay based on provided salary and pension contributions.

Question

Mr. John Romeski worked for Aligidon Company Ltd for 25 years and retired at the age of 60. In the last 3 years of his working life, he earned annual salary as follows:

Year	Annual Salary (GH¢)
58th	93,000
59th	96,000
60th	99,000

He has 300 months’ contribution to his credit.

Required:

Assuming he retired under the National Pension Act, 2008 (Act 766), compute his pension benefit and his monthly pension pay. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghana tax laws, National Pension Act, Pension benefits, Pension Computation, Retirement
Level: Level 2

Topic: Income Tax Liabilities
Series: DEC 2023

AT – May 2020 – L3 – Q1 – International taxation

Explanation of the concept of permanent establishment in Ghana and the differences between economic and juridical double taxation.

Question

Required: Prepare a report highlighting the following:

a) What constitutes a Ghanaian permanent establishment with reference to the Income Tax Act, 2015 (Act 896)?
(4 marks)

b) Explain the taxation rules on Ghanaian permanent establishment as enshrined in the Income Tax Act, 2015 (Act 896).
(10 marks)

c) There are economic double taxation and juridical double taxation. Explain these TWO (2) concepts of double taxation.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business operations, Double Taxation, Ghana tax laws, Permanent Establishment, Tax treaties
Level: Level 3

Topic: International taxation
Series: MAY 2020

AT – March 2023 – L3 – Q2a – Tax administration in Ghana

Discuss the tax position of NGOs in Ghana and their obligations under tax law.

Question

The Pastor has invited you as a member of the community to give advice on how to position the NGO in order not to run into problems with the Ghana Revenue Authority in respect of tax issues.

Required:
Discuss the position of the tax laws on Non-Governmental Organisations.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghana tax laws, Non-Governmental Organizations (NGOs), Tax Exemptions
Level: Level 3

Topic: Tax administration in Ghana
Series: MAR 2023

Question Tag: Ghana tax laws

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PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities

Compute pension benefit and monthly pension pay based on provided salary and pension contributions.

AT – May 2020 – L3 – Q1 – International taxation

Explanation of the concept of permanent establishment in Ghana and the differences between economic and juridical double taxation.

AT – March 2023 – L3 – Q2a – Tax administration in Ghana

Discuss the tax position of NGOs in Ghana and their obligations under tax law.

PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities

Compute pension benefit and monthly pension pay based on provided salary and pension contributions.

AT – May 2020 – L3 – Q1 – International taxation

Explanation of the concept of permanent establishment in Ghana and the differences between economic and juridical double taxation.

AT – March 2023 – L3 – Q2a – Tax administration in Ghana

Discuss the tax position of NGOs in Ghana and their obligations under tax law.

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PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities

Compute pension benefit and monthly pension pay based on provided salary and pension contributions.

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AT – May 2020 – L3 – Q1 – International taxation

Explanation of the concept of permanent establishment in Ghana and the differences between economic and juridical double taxation.

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AT – March 2023 – L3 – Q2a – Tax administration in Ghana

Discuss the tax position of NGOs in Ghana and their obligations under tax law.

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PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities

Compute pension benefit and monthly pension pay based on provided salary and pension contributions.

You're reporting an error for "PT – Dec 2023 – L2 – Q2c – Income Tax Liabilities"

AT – May 2020 – L3 – Q1 – International taxation

Explanation of the concept of permanent establishment in Ghana and the differences between economic and juridical double taxation.

You're reporting an error for "AT – May 2020 – L3 – Q1 – International taxation"

AT – March 2023 – L3 – Q2a – Tax administration in Ghana

Discuss the tax position of NGOs in Ghana and their obligations under tax law.

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