Section A

Q1a). Hajia IMAN is a resident in Ghana and works as an accountant of Ghana Trustees Limited. She earns a gross salary of GH 30,000.00 for 2018 year of assessment. She contributed 5.5% of her salary to the social security fund. In 2018, the gross royalties accrued to her was $4,000 from the United Kingdom of which tax of $ 800 had been deducted with the reminder of $3,200 being remitted to her in Ghana.

Granted that Ghana has a double taxation agreement with United Kingdom.

Youre required to calculate the EFFECTIVE RATES for both United Kingdom and Ghana available to HAJIA IMAN for the year 2020. And state the tax credit available to her in this circumstance.

NB: Assumed exchange rate, GH4.50=$ 1)

(6 marks)

1b. Mention eight (8) countries that Ghana has double taxation agreements with.

Double-cli Additional information Income Band INCOME Tar FIRST 2,592 Free NEXT 1,296.00 5 NEXT 1,812.00 10 NEXT 33,180.00 17.5 NEXT 7,470.00 25