- 4 Marks
PT – May 2021 – L2 – Q2a – Value-Added Tax (VAT), Customs, and Excise Duties
Explain how VAT will be accounted for in the case of imported services in Ghana.
Question
MMX Bank, a resident financial institution in Ghana, contracted Crown UK, a specialist in software maintenance. Per the contract, Crown UK is required to come to Ghana to provide the services every two years. The specialist will provide services to the bank’s clients in the normal banking operation.
Required:
How will VAT, if any, be accounted for?
Find Related Questions by Tags, levels, etc.
- Tags: Imported Services, Reverse Charge, VAT
- Level: Level 2
- Topic: Value-Added Tax (VAT), Customs, and Excise Duties
- Series: MAY 2021
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