- 2 Marks
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)
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
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