Tax Principles – NBC Institute

TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation

Multiple-choice question assessing knowledge of the principles of taxation.

Question

Which of the following is NOT a principle of taxation?
A. Equity
B. Certainty
C. Convenience
D. Simplicity
E. Residency

Answer

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Tags: Certainty, Convenience, Equity, Residency, Simplicity, Tax Principles
Level: Level 1

Topic: Introduction to Taxation
Series: MAY 2021

PT – March 2023 – L2 – Q3a – Income Tax Liabilities

Explain the principles and computation of overtime tax under the Income Tax Act.

Question

Kaakyire, the Finance Director of Dwarf Ltd, is on a monthly basic salary of GH¢1,400. She was paid overtime amounting to GH¢500 during the month of April 2022.

Required:

i) State the principles underpinning the computation of overtime in accordance with the Income Tax Act, 2016 (Act 896).
(6 marks)

ii) State how her overtime will be taxed and compute the tax for the month of April 2022.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Income Tax, Overtime, Tax computation, Tax Principles, Withholding Tax
Level: Level 2

Topic: Income Tax Liabilities
Series: MAR 2023

TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation

Multiple-choice question assessing knowledge of the principles of taxation.

Question

Which of the following is NOT a principle of taxation?
A. Equity
B. Certainty
C. Convenience
D. Simplicity
E. Residency

Answer

Find Related Questions by Tags, levels, etc.

Tags: Certainty, Convenience, Equity, Residency, Simplicity, Tax Principles
Level: Level 1

Topic: Introduction to Taxation
Series: MAY 2021

PT – March 2023 – L2 – Q3a – Income Tax Liabilities

Explain the principles and computation of overtime tax under the Income Tax Act.

Question

Kaakyire, the Finance Director of Dwarf Ltd, is on a monthly basic salary of GH¢1,400. She was paid overtime amounting to GH¢500 during the month of April 2022.

Required:

i) State the principles underpinning the computation of overtime in accordance with the Income Tax Act, 2016 (Act 896).
(6 marks)

ii) State how her overtime will be taxed and compute the tax for the month of April 2022.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Income Tax, Overtime, Tax computation, Tax Principles, Withholding Tax
Level: Level 2

Topic: Income Tax Liabilities
Series: MAR 2023

Question Tag: Tax Principles

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TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation

Multiple-choice question assessing knowledge of the principles of taxation.

PT – March 2023 – L2 – Q3a – Income Tax Liabilities

Explain the principles and computation of overtime tax under the Income Tax Act.

TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation

Multiple-choice question assessing knowledge of the principles of taxation.

PT – March 2023 – L2 – Q3a – Income Tax Liabilities

Explain the principles and computation of overtime tax under the Income Tax Act.

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Question Tag: Tax Principles

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TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation

Multiple-choice question assessing knowledge of the principles of taxation.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation"

PT – March 2023 – L2 – Q3a – Income Tax Liabilities

Explain the principles and computation of overtime tax under the Income Tax Act.

You're reporting an error for "PT – March 2023 – L2 – Q3a – Income Tax Liabilities"

TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation

Multiple-choice question assessing knowledge of the principles of taxation.

You're reporting an error for "TAX – May 2021 – L1 – SA – Q1 – Introduction to Taxation"

PT – March 2023 – L2 – Q3a – Income Tax Liabilities

Explain the principles and computation of overtime tax under the Income Tax Act.

You're reporting an error for "PT – March 2023 – L2 – Q3a – Income Tax Liabilities"

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