Question
1. Potential Breakthrough Limited, a manufacturing company started business on 1/4/2013 and keeps accounts to 31/3 each year. The company presents the following results of
1. Potential Breakthrough Limited, a manufacturing company started business on 1/4/2013 and keeps accounts to 31/3 each year. The company presents the following results of operations for assessment: Year to 31/3/2014: GHC480,000; Year to 31/3/2015: GHC560,000; Year to 31/3/2016: GHC400,000; Year to 31/3/2017; GHC520,000. Assuming the company is located in Accra and was granted capital allowance of GHC2,500 for the 2016 year of assessment, what will be the tax liability?
2. UGBS engaged Moshosho Limited to supply the school with goods on the following dates: 3/4/17: GHC280; 4/05/17: GHC900; 10/9/17: GHC1,630. What is the withholding tax paid by Moshosho Limited in the month of May 2017
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