NEW VAT SCHEME QUESTIONS.pdf - PASSWELL PROFESSIONAL INSTITUTE(ICAG ACCA TUITION PROVIDER TEACHING PHILOSOPHY WE TEACH TO AFFECT YOUR HEAD HANDS AND

NEW VAT SCHEME QUESTIONS.pdf - PASSWELL PROFESSIONAL...

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SNR. FREDIZZO (0249713272)1. A Manufacturer made a supply of goods to a customer for the sum of GHC 200,000 (exclusive of VAT, NHIL& GETFL). How would the transaction be invoiced and accounted for? 2. A law firm provided a legal service to a mining company and charged a sum of GHC 500,000 (VAT, NHIL &GETFL inclusive). Calculate: i. The NHIL and GETFL chargeable ii. The output VAT chargeable 3. A contractor raises a certificate in the sum of GHC 500,000 (excluding VAT/NHIL/GetFund Levy) in respect of a car park it constructed for a withholding VAT agent. Calculate: i.The proportion of VAT that should be withheld by the agent in respect of payment of the certificate (the withholding VAT rate is 7% and the VAT/NHIL/GetFund rate is 17.5%); ii.The output VAT to be shown on the face of the contractor’s monthly VAT return; and iii.the tax payable thereof by the contractor, if the total input tax incurred for the period is GHC 20,000. 1 PASSWELL PROFESSIONAL INSTITUTE (ICAG & ACCA TUITION PROVIDER) TEACHING PHILOSOPHY: WE TEACH TO AFFECT YOUR HEAD, HANDS AND HEART.
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  • Fall '18
  • DR MAAME ADWOA GYEKYE JANDO
  • Akorfa Vinyo

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