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QUESTION TWO A. Explain any four (4) key functions of taxation in the Ghanaian Economy. (6 marks) B. Outline any four (4) benefits of withholding

QUESTION TWO A. Explain any four (4) key functions of taxation in the Ghanaian Economy. (6 marks) B. Outline any four (4) benefits of withholding taxes. (2 marks) C. What is income in the context of Act 896? Distinguish between assessable and chargeable incomes. (4 marks) D. Outline any ten (10) incomes that are exempted from tax under the Income Tax Act 896 of 2015 (5 marks) E. Explain the conditions under which corporate expenditure would be allowable for tax purposes under the Act 896 of 2015. (3 marks) TOTAL-20 MARKS

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