Interest Computation – NBC Institute

PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities

Determines the amount of tax underpayment for Naab Ltd to be subjected to interest computation.

Question

c) The following data is relevant to Naab Ltd tax affairs for 2018 year of assessment:

Self-assessment returns submitted:

Tax paid on self-assessment: GH¢1,000,000
Chargeable income: GH¢4,000,000
Actual Returns submitted:

Chargeable Income: GH¢6,000,000
Correct amount – Tax payable: GH¢1,500,000

Required:
What is the amount of tax underpayment to be subject to interest computation?
(2 marks)

Answer

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Tags: Interest Computation, Self Assessment., Tax Liability, Tax Underpayment
Level: Level 2

Topic: Tax Administration
Series: NOV 2019

PT – Nov 2020 – L2 – Q1c – Tax Administration

Computes the interest payable on overdue tax liability for a specific period and tax rate.

Question

The following tax outstanding is relevant to the records of Bobolibobo Ltd:

Amount: GH¢200,000
Period of tax outstanding: 6 months
Statutory rate (annual): 20%

Required:
Compute the interest payable and the total tax liability from the above.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Interest Computation, Overdue Tax Liability, Statutory Interest Rate
Level: Level 2

Topic: Tax Administration
Series: NOV 2020

PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities

Determines the amount of tax underpayment for Naab Ltd to be subjected to interest computation.

Question

c) The following data is relevant to Naab Ltd tax affairs for 2018 year of assessment:

Self-assessment returns submitted:

Tax paid on self-assessment: GH¢1,000,000
Chargeable income: GH¢4,000,000
Actual Returns submitted:

Chargeable Income: GH¢6,000,000
Correct amount – Tax payable: GH¢1,500,000

Required:
What is the amount of tax underpayment to be subject to interest computation?
(2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Interest Computation, Self Assessment., Tax Liability, Tax Underpayment
Level: Level 2

Topic: Tax Administration
Series: NOV 2019

PT – Nov 2020 – L2 – Q1c – Tax Administration

Computes the interest payable on overdue tax liability for a specific period and tax rate.

Question

The following tax outstanding is relevant to the records of Bobolibobo Ltd:

Amount: GH¢200,000
Period of tax outstanding: 6 months
Statutory rate (annual): 20%

Required:
Compute the interest payable and the total tax liability from the above.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Interest Computation, Overdue Tax Liability, Statutory Interest Rate
Level: Level 2

Topic: Tax Administration
Series: NOV 2020

Question Tag: Interest Computation

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PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities

Determines the amount of tax underpayment for Naab Ltd to be subjected to interest computation.

PT – Nov 2020 – L2 – Q1c – Tax Administration

Computes the interest payable on overdue tax liability for a specific period and tax rate.

PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities

Determines the amount of tax underpayment for Naab Ltd to be subjected to interest computation.

PT – Nov 2020 – L2 – Q1c – Tax Administration

Computes the interest payable on overdue tax liability for a specific period and tax rate.

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Question Tag: Interest Computation

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PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities

Determines the amount of tax underpayment for Naab Ltd to be subjected to interest computation.

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PT – Nov 2020 – L2 – Q1c – Tax Administration

Computes the interest payable on overdue tax liability for a specific period and tax rate.

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PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities

Determines the amount of tax underpayment for Naab Ltd to be subjected to interest computation.

You're reporting an error for "PT – Nov 2019 – L2 – Q1c – Corporate Tax Liabilities"

PT – Nov 2020 – L2 – Q1c – Tax Administration

Computes the interest payable on overdue tax liability for a specific period and tax rate.

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