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Ghana Revenue Authority has embarked on comprehensive reforms geared towards Voluntary Tax Compliance. Among the reforms include requesting tax payers to determine their tax liabilities
Ghana Revenue Authority has embarked on comprehensive reforms geared towards Voluntary Tax Compliance. Among the reforms include requesting tax payers to determine their tax liabilities and consequently the tax payable. This has roundly been criticized by some taxpayers as increasing cost of compliance or doing business. You have been engaged by the Ministry of Finance to help Ghana Revenue Authority educate taxpayers on these reforms. You are required to explain to taxpayers: i. Self-Assessment Tax Regime (4 marks) ii. Critically examine the benefits taxpayers stand to derive from Self-Assessment Regime that has become part of tax administration in Ghana (6 marks) B. With reference to the Income Tax Act, 2015 Act 896 Section 7 State 5 incomes that are exempted from tax. (4 marks) C. For a tax system to be said to be good, it has to meet certain standards. Outline and explain the attributes of a good tax system to the management of the GRA in their quest to design a new tax system. (4 Marks) D. Critically examine the principles of source jurisdiction in taxation with particular reference to Ghana.
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