- 5 Marks
PT – May 2020 – L2 – Q5c – Withholding Tax Administration
This question requires the computation of the penalty for late filing of withholding tax returns by Adamu Ltd.
Question
The following unstructured invoice has been forwarded to Adamu Ltd from Asigra Ltd, a standard rated supplier:
Goods invoiced (VAT inclusive) GH¢3,000,000 The above transactions relate to payment for goods in January 2019.
Required:
i) Compute the withholding tax payable by Adamu Ltd.
(2 marks)
Assuming Adamu Ltd filed the withholding tax return 12 days after the due date,
ii) compute the penalty payable.
(3 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Ghana Revenue Authority, Late Filing Penalty, Withholding Tax
- Level: Level 2
- Topic: Penalties, Tax administration in Ghana
- Series: MAY 2020
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