Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr. Stephen Bakoma was appointed on a salary scale of GH 13,200 per annum with effect from 1 st August 2020.He contributes 5.5% of his

Mr. Stephen Bakoma was appointed on a salary scale of GH13,200 per annum with effect from 1st August 2020.He contributes 5.5% of his basic salary to the Social Security scheme.As part of his conditions of service he was provided with a furnished accommodation and a vehicle with fuel. Other entitlements to Mr.Bakoma are as follows:

1. Responsibility allowance GH250 per month

2. Utilities GH500 per month

3. Entertainment allowance GH100 per month

He has 3 wives and nine children. Five of his children are public second cycle institutions and the rest are in the universities at various levels.

REQUIRED.

Calculate his tax liability for the 2020 year of assessment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Rethinking Public Private Partnerships

Authors: Mervyn K. Lewis

1st Edition

1789906393, 9781789906394

More Books

Students also viewed these Accounting questions

Question

How does nonverbal communication express cultural values?

Answered: 1 week ago