- 4 Marks
AT – Nov 2019 – L3 – Q4b – International taxation
Advise on the tax implications of a distribution from a non-resident trust to resident beneficiaries in Ghana.
Question
Askona is run as a Trust for Maame Kukua, a Ghanaian based in the USA. Askona is based in the USA and represents a lot of people in trust arrangements. Under the arrangement, Maame Kukua who is currently living in the USA has acquired a transporter vehicle for Askona to use it for the benefit of her two children -Yaaya Mensah and Nana Yaw Mensah who are both resident in Ghana.
In January 2019, Askona made a distribution to Yaaya Mensah and Nana Yaw Mensah in Ghana via Western Union Money Transfer. Maame Kukua has asked you, a young Tax Expert in Ghana to advise on the taxability or otherwise of the above transaction in Ghana.
Required: Advise on whether a distribution by a non-resident trust such as Askona is taxable and how?
Find Related Questions by Tags, levels, etc.
- Tags: Non-resident trusts, Tax implications, Trust distributions
- Level: Level 3
- Topic: International taxation
- Series: NOV 2019