Madam Mercy, a single parent aged 62 has been a non-resident person staying in the United Kingdom (UK) for several years. She spent the 2016 Christmas in Ghana. During the period, she met a young handsome man called Richard as a sweetheart and therefore decided to re-settle in Ghana and never returned to UK. She decided to set up her own agribusiness enterprise engaging in manufacturing and sale of fruit juice on 1st January, 2017. From her savings in UK, she transferred GBP 20,000 at a rate of GH 5.50 to 1 GBP to open a bank account for the business on 5th January, 2017 and further purchased production machinery for the project at a cost of GBP 10,000 at a rate of GH 5.50 to 1 GBP. Whilst in UK, she put up a house at Daban in Kumasi in 1995 at a cost of GH150,000. She decided to use her two adjoining garages for the project and therefore spent GH 50,000 for that purpose from her own resources. Production and sale of the products started in February, 2017.

After a year in business, she was convinced to embark on expansion and she started to do that. It was in the course of this that officials of the Domestic Tax Revenue Division of Ghana Revenue Authoritys office at Asokwa, Kumasi got to know of this business and invited her for discussion on her tax affairs since she had so far not paid any tax on her business income.

The following facts emerged during the discussions: She transferred a further amount of GBP 10,000 at the rate of GH 5.50 to GBP 1 on 1 Feb 2017 from her UK as a working capital. In February 2017, the business acquired the following assets from the GBP 20,000 transferred to the business account GH 1 Distribution Van - 70,000 Office Equipment 20,000 Furniture & Fittings 10,000 In the course of the year, she purchased a Kia Trade Truck for GH 60,000 for the business from the cash flow from the operating activities. By the end of the 2017 Year of assessment some customers owed her GH 30,000 whereas she owed an amount of GH 25,000 in respect goods purchased but unpaid for. She was also owing GH 3,000 in respect of electricity consumed for the business.

She has three (3) children who are still living in UK, making her stay in Ghana alone. The children are all attending Senior High Schools in UK. She lost her husband in 2015. Her private living expenses for 2017 include: GH Remittances to her children abroad 36,000 Food 4,000 Medical Bills 6,000 Renovation of her building 12,000

Required Calculate her chargeable income for the 2017 Year of Assessment Compute her tax liability for 2017 Year of Assessment