Question
BOAFO YE N HAS BEEN IN EMPOLYMENT SINCE 2019 ON CONSOLIDATED SALARY OF 360,000 PER ANNUM WITH DAAKYE TIMBERS LIMITED. IN THE YEAR 2020 ,HIS
BOAFO YE N HAS BEEN IN EMPOLYMENT SINCE 2019 ON CONSOLIDATED SALARY OF 360,000 PER ANNUM WITH DAAKYE TIMBERS LIMITED. IN THE YEAR 2020 ,HIS CONSOLIDATED SALARY WAS 150,000 FROM WHICH CONTRIBUTED 5.5% TO SOCIAL SECURITY AND NATIONAL INSURANCE.IN THE SAME YESR HE REMITTED AN AMOUNT OF 18,000 BEING HIS NET SHARE OF PARTNERSHIP PROFITS IN UK, INTO GHANA,AFTER TAX OF 4,500 HAS BEEN DEDUCTED IN THE UK. BOAFO YE NA IS MARRIED WITH THREE CHILDREN,TWO OF WHOM ARE IN TEMA SENIOR HIGH IN TEMA AND ONE IN ABURI GIRL SCHOOL
YOU ARE REQUIRED TO
1. DETERMINE THE TAX CREDIT RELIEF TO BE GRANTED TO BOAFO YE NA ON THE BASIC THAT A DOUBLE TAXATION AGREEMENT EXISTS BETWEEN GHANA AND UK
2. WHAT IS BOAFO YE NA NET TAX LIABILITY IN GHANA
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