Sections 4, 5 and 6 of the Income Tax Act 896 of 2015 mentions the sources of income as employment, business and investment respectively. Section 133 under interpretation goes further to state that business includes; a trade, profession, vocation or isolated arrangement with a business character but excludes employment.

Discuss what constitutes business income with reference to trade, profession and vocation.

B. Under what circumstances would the Commissioner-General of Ghana Revenue Authority may, by notice, require a person to file a tax return before the due date for filing of tax returns? (5 marks)

C. The Ghana Revenue Authority Act, 2009 (Act 791) provides certain objectives to be achieved by the Ghana Revenue Authority (GRA) in the performance of its functions.

Required: Identify FIVE functions that are to be performed by GRA to achieve its objectives.