- 4 Marks
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.
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
Report an error