Self Assessment. – 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

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 – July 2023 – L2 – Q1c – Tax Administration

Explanation of self-assessment, pre-emptive assessment, administrative assessment, and tax audit assessment.

Question

Explain the following as used in tax administration:
i) Self-Assessment
ii) Pre-emptive Assessment
iii) Administrative Assessment
iv) Tax Audit Assessment

(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Administrative Assessment, Pre-Emptive Assessment, Self Assessment., Tax Assessment, Tax Audit
Level: Level 2

Topic: Tax Administration
Series: JULY 2023

PT – Nov 2021 – L2 – Q1d – Tax Administration

Explain the advantages of self-assessment for both the government and the taxpayer.

Question

State TWO (2) advantages each of self-assessment to the government and the taxpayer. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghana Revenue Authority, Government benefits, Self Assessment., Tax Compliance, Taxpayer Benefits
Level: Level 2

Topic: Tax Administration
Series: NOV 2021

PT – Nov 2020 – L2 – Q1e – Tax Administration

Explains steps to file tax returns for a sole proprietor and reasons for an adjusted assessment by the Commissioner-General.

Question

Paa Tee is a sole proprietor and has not filed his tax returns for 2018 year of assessment as at April 1, 2019. He has approached you to file his tax returns for him and from all indications, he has paid all his taxes based on the self-assessment estimate.

Required:
i) What steps (if any) will you take to enable Paa Tee file his tax return and are there any financial implications in filing? (2 marks)
ii) What factors may give rise to an adjusted assessment by the Commissioner-General?

Answer

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Tags: Adjusted Assessment, Penalties, Self Assessment., Tax Filing, Tax Returns
Level: Level 2

Topic: Tax Administration
Series: NOV 2020

AT – Nov 2018 – L3 – Q4b – Tax Administration

Evaluation of the benefits of the self-assessment regime for taxpayers and the tax authority.

Question

The Income Tax Act, 2015 (Act 896), as amended, requires all taxpayers to be on self-assessment as taxpayers know better their circumstances for tax purposes.

Required:
Evaluate FOUR (4) benefits of the self-assessment regime.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Self Assessment., Tax Compliance, Tax Revenue, Taxpayer Responsibility
Level: Level 3

Topic: Tax administration in Ghana
Series: NOV 2018

AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana

Explaining the self-assessment tax regime and benefits to taxpayers under Ghana’s tax administration system.

Question

Ghana Revenue Authority has embarked on comprehensive reforms geared towards “Voluntary Tax Compliance.” Among the reforms is requesting taxpayers to determine their tax liabilities and consequently the tax payable. This has been criticized by some taxpayers as increasing the cost of compliance or doing business. You have been engaged by the Ministry of Finance to help Ghana Revenue Authority educate taxpayers on these reforms.

You are required to explain to taxpayers:

i. Self-Assessment Tax Regime.
(4 marks)

ii. Critically examine the benefits taxpayers stand to derive from the Self-Assessment Regime that has become part of tax administration in Ghana.
(6 marks)

Answer

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Tags: Benefits of self-assessment, Self Assessment., Tax Compliance, Taxpayer obligations
Level: Level 3

Topic: Tax administration in Ghana
Series: NOV 2015

AT – May 2016 – L3 – Q3a – Tax administration in Ghana

Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration

Question

a)
i) Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration. (6 marks)

ii) Discuss the rationale for the shift from Provisional Assessment to Self Assessment. (8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Provisional Assessment, Self Assessment., Tax Administration
Level: Level 3

Topic: Tax administration in Ghana
Series: MAY 2016

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 – July 2023 – L2 – Q1c – Tax Administration

Explanation of self-assessment, pre-emptive assessment, administrative assessment, and tax audit assessment.

Question

Explain the following as used in tax administration:
i) Self-Assessment
ii) Pre-emptive Assessment
iii) Administrative Assessment
iv) Tax Audit Assessment

(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Administrative Assessment, Pre-Emptive Assessment, Self Assessment., Tax Assessment, Tax Audit
Level: Level 2

Topic: Tax Administration
Series: JULY 2023

PT – Nov 2021 – L2 – Q1d – Tax Administration

Explain the advantages of self-assessment for both the government and the taxpayer.

Question

State TWO (2) advantages each of self-assessment to the government and the taxpayer. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Ghana Revenue Authority, Government benefits, Self Assessment., Tax Compliance, Taxpayer Benefits
Level: Level 2

Topic: Tax Administration
Series: NOV 2021

PT – Nov 2020 – L2 – Q1e – Tax Administration

Explains steps to file tax returns for a sole proprietor and reasons for an adjusted assessment by the Commissioner-General.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Adjusted Assessment, Penalties, Self Assessment., Tax Filing, Tax Returns
Level: Level 2

Topic: Tax Administration
Series: NOV 2020

AT – Nov 2018 – L3 – Q4b – Tax Administration

Evaluation of the benefits of the self-assessment regime for taxpayers and the tax authority.

Question

The Income Tax Act, 2015 (Act 896), as amended, requires all taxpayers to be on self-assessment as taxpayers know better their circumstances for tax purposes.

Required:
Evaluate FOUR (4) benefits of the self-assessment regime.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Self Assessment., Tax Compliance, Tax Revenue, Taxpayer Responsibility
Level: Level 3

Topic: Tax administration in Ghana
Series: NOV 2018

AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana

Explaining the self-assessment tax regime and benefits to taxpayers under Ghana’s tax administration system.

Question

You are required to explain to taxpayers:

i. Self-Assessment Tax Regime.
(4 marks)

ii. Critically examine the benefits taxpayers stand to derive from the Self-Assessment Regime that has become part of tax administration in Ghana.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Benefits of self-assessment, Self Assessment., Tax Compliance, Taxpayer obligations
Level: Level 3

Topic: Tax administration in Ghana
Series: NOV 2015

AT – May 2016 – L3 – Q3a – Tax administration in Ghana

Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration

Question

a)
i) Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration. (6 marks)

ii) Discuss the rationale for the shift from Provisional Assessment to Self Assessment. (8 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Provisional Assessment, Self Assessment., Tax Administration
Level: Level 3

Topic: Tax administration in Ghana
Series: MAY 2016

Question Tag: Self Assessment.

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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 – July 2023 – L2 – Q1c – Tax Administration

Explanation of self-assessment, pre-emptive assessment, administrative assessment, and tax audit assessment.

PT – Nov 2021 – L2 – Q1d – Tax Administration

Explain the advantages of self-assessment for both the government and the taxpayer.

PT – Nov 2020 – L2 – Q1e – Tax Administration

Explains steps to file tax returns for a sole proprietor and reasons for an adjusted assessment by the Commissioner-General.

AT – Nov 2018 – L3 – Q4b – Tax Administration

Evaluation of the benefits of the self-assessment regime for taxpayers and the tax authority.

AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana

Explaining the self-assessment tax regime and benefits to taxpayers under Ghana’s tax administration system.

AT – May 2016 – L3 – Q3a – Tax administration in Ghana

Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration

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

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

PT – July 2023 – L2 – Q1c – Tax Administration

Explanation of self-assessment, pre-emptive assessment, administrative assessment, and tax audit assessment.

PT – Nov 2021 – L2 – Q1d – Tax Administration

Explain the advantages of self-assessment for both the government and the taxpayer.

PT – Nov 2020 – L2 – Q1e – Tax Administration

Explains steps to file tax returns for a sole proprietor and reasons for an adjusted assessment by the Commissioner-General.

AT – Nov 2018 – L3 – Q4b – Tax Administration

Evaluation of the benefits of the self-assessment regime for taxpayers and the tax authority.

AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana

Explaining the self-assessment tax regime and benefits to taxpayers under Ghana’s tax administration system.

AT – May 2016 – L3 – Q3a – Tax administration in Ghana

Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration

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Question Tag: Self Assessment.

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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 – July 2023 – L2 – Q1c – Tax Administration

Explanation of self-assessment, pre-emptive assessment, administrative assessment, and tax audit assessment.

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PT – Nov 2021 – L2 – Q1d – Tax Administration

Explain the advantages of self-assessment for both the government and the taxpayer.

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PT – Nov 2020 – L2 – Q1e – Tax Administration

Explains steps to file tax returns for a sole proprietor and reasons for an adjusted assessment by the Commissioner-General.

You're reporting an error for "PT – Nov 2020 – L2 – Q1e – Tax Administration"

AT – Nov 2018 – L3 – Q4b – Tax Administration

Evaluation of the benefits of the self-assessment regime for taxpayers and the tax authority.

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AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana

Explaining the self-assessment tax regime and benefits to taxpayers under Ghana’s tax administration system.

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AT – May 2016 – L3 – Q3a – Tax administration in Ghana

Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration

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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 – July 2023 – L2 – Q1c – Tax Administration

Explanation of self-assessment, pre-emptive assessment, administrative assessment, and tax audit assessment.

You're reporting an error for "PT – July 2023 – L2 – Q1c – Tax Administration"

PT – Nov 2021 – L2 – Q1d – Tax Administration

Explain the advantages of self-assessment for both the government and the taxpayer.

You're reporting an error for "PT – Nov 2021 – L2 – Q1d – Tax Administration"

PT – Nov 2020 – L2 – Q1e – Tax Administration

Explains steps to file tax returns for a sole proprietor and reasons for an adjusted assessment by the Commissioner-General.

You're reporting an error for "PT – Nov 2020 – L2 – Q1e – Tax Administration"

AT – Nov 2018 – L3 – Q4b – Tax Administration

Evaluation of the benefits of the self-assessment regime for taxpayers and the tax authority.

You're reporting an error for "AT – Nov 2018 – L3 – Q4b – Tax Administration"

AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana

Explaining the self-assessment tax regime and benefits to taxpayers under Ghana’s tax administration system.

You're reporting an error for "AT – Nov 2015 – L3 – Q2c – Tax administration in Ghana"

AT – May 2016 – L3 – Q3a – Tax administration in Ghana

Explain the terms “Provisional Assessment” and “Self Assessment” in tax administration

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