- 5 Marks
PT – Nov 2023 – L2 – Q5b – Value-Added Tax (VAT), Customs, and Excise Duties
Calculate the withholding tax payable for a contract including various levies and VAT.
Question
The cost of iron rods supplied by Akinto Steel Works Ltd to Oputu Construction Ltd is worth GH¢300,000 (inclusive of National Health Insurance Levy, Ghana Education Trust Fund Levy, COVID-19 Health Recovery Levy, and Value Added Tax).
Required:
Determine the Withholding Tax payable in respect of the contract for supplies. (5 marks)
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