Tax impact – NBC Institute

TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement

Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.

Question

Multiplicity of taxes and tax incidence are two challenges in taxation facing the top management of Ogoluwa Plc. They are aware that a number of tax provisions have been put in place to address multiplicity of taxes in Nigeria.

You are in charge of tax matters in the Finance Department of Ogoluwa Plc.

You are required to explain to the top management of Ogoluwa Plc:
a. Multiplicity of taxes (2 Marks)
b. Five types of multiple taxes (5 Marks)
c. The following concepts:
i. Tax Incidence (2 Marks)
ii. Tax Burden (2 Marks)
iii. Tax Impact (2 Marks)
iv. Tax Shift (2 Marks)
v. Tax Effect (2 Marks)

d. In the context of multiplicity of taxes, explain TWO tax provisions put in place to ensure that there is no multiplicity of taxes in Nigeria. (3 Marks)

Answer

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Tags: Multiplicity of Taxes, Tax Burden, Tax Effect, Tax impact, Tax Incidence, Tax Shift
Level: Level 2

Topic: Tax Administration and Enforcement, The Nigerian Tax System
Series: MAY 2018

AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization

Evaluating the tax impact of acquiring interest in a Ghanaian company and strategies to reduce tax exposure

Question

Cradle Ltd, a company based in the United Kingdom, has proposed to acquire interest in Mamen Ltd, a company incorporated in Ghana and engaged in the sale of ceramics in Ghana. As part of Cradle Ltd’s investigation to acquire Mamen Ltd, the following financial indicators caught the attention of the management of Cradle Ltd:

The company has large staff numbers made up of fresh graduates and employees with enormous work experience.
There is a bad debt in the books of Mamen Ltd amounting to GH¢20 million.
The company has a financial cost from arbitrage arrangements amounting to GH¢14 million.
Tax loss unrelieved and unexpired was GH¢2 million.
According to the Accountant, carryover loss amounted to GH¢1 million.

Required:
Evaluate the tax impact of the above financial indicators on the operations of Cradle Ltd and advise the management of Cradle Ltd on how to reduce its tax exposure if any.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Carryover losses, Financial cost, Mergers and Acquisitions, Reorganization, Tax impact
Level: Level 3

Topic: Mergers, amalgamation, and reorganization
Series: JULY 2023

TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement

Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.

Question

You are in charge of tax matters in the Finance Department of Ogoluwa Plc.

d. In the context of multiplicity of taxes, explain TWO tax provisions put in place to ensure that there is no multiplicity of taxes in Nigeria. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Multiplicity of Taxes, Tax Burden, Tax Effect, Tax impact, Tax Incidence, Tax Shift
Level: Level 2

Topic: Tax Administration and Enforcement, The Nigerian Tax System
Series: MAY 2018

AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization

Evaluating the tax impact of acquiring interest in a Ghanaian company and strategies to reduce tax exposure

Question

The company has large staff numbers made up of fresh graduates and employees with enormous work experience.
There is a bad debt in the books of Mamen Ltd amounting to GH¢20 million.
The company has a financial cost from arbitrage arrangements amounting to GH¢14 million.
Tax loss unrelieved and unexpired was GH¢2 million.
According to the Accountant, carryover loss amounted to GH¢1 million.

Required:
Evaluate the tax impact of the above financial indicators on the operations of Cradle Ltd and advise the management of Cradle Ltd on how to reduce its tax exposure if any.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Carryover losses, Financial cost, Mergers and Acquisitions, Reorganization, Tax impact
Level: Level 3

Topic: Mergers, amalgamation, and reorganization
Series: JULY 2023

Question Tag: Tax impact

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TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement

Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.

AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization

Evaluating the tax impact of acquiring interest in a Ghanaian company and strategies to reduce tax exposure

TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement

Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.

AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization

Evaluating the tax impact of acquiring interest in a Ghanaian company and strategies to reduce tax exposure

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TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement

Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.

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AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization

Evaluating the tax impact of acquiring interest in a Ghanaian company and strategies to reduce tax exposure

You're reporting an error for "AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization"

TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement

Discuss multiplicity of taxes and explain tax-related concepts for Ogoluwa Plc.

You're reporting an error for "TAX – May 2018 – L2 – Q3 – Tax Administration and Enforcement"

AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization

Evaluating the tax impact of acquiring interest in a Ghanaian company and strategies to reduce tax exposure

You're reporting an error for "AT – July 2023 – L3 – Q2a – Mergers, amalgamation, and reorganization"

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