Question
QUESTION 2. a. Mention five tax laws in Ghana b. Discuss what is meant by filing annual returns. c. In your own words, what is
QUESTION 2. a. Mention five tax laws in Ghana b. Discuss what is meant by filing annual returns. c. In your own words, what is the difference between filing returns and paying returns? d. What steps can be taken by a company to extend the period for filing / paying returns e. Christopher was required to purchase cement from a ware house. The invoice was GHS 175,138.49 (Vat exclusive) Required: i Calculate the VAT, NHIL , COVID 19 LEVY and GETFUND levy . ii. Calculate how much he will pay to the warehouse iii. Discuss the differences between taxable supply, exempt supply, relief supply and zero rated supply iv. Distinguish between output VAT and input VAT v. Explain TWO characteristics of VAT
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