Course Description

The course covers taxation rules, the overall principles of tax administration, its structure and procedures, functions of VAT and CEPS, Income tax computation, double taxation, Capital allowance, Withholding tax and Business income

Learning outcome

At the end of the module, students should:

1.0       Understand the general rules of taxation

2.0       Apply taxation rules through income tax computation

 

Course Content

1.         Introduction to tax

a.          Introduction to tax administration in Ghana

b.         The revenue collection Agencies and Departments

c.          kinds of tax

d.         Attributes of good tax system

e.          Impact Incidence and taxable capacity

f.            Income subject to tax

2.   Personal Income tax

a.          Employment income

·     Imposition of tax

·     Contract of service or contract for service

·     Benefit in cash or in kind

·     Geographical source of income

·     Income exempted from tax

b.         computation of tax liability on personal income

·     Single insurance policy situation

·     Computation of employee’s tax

·     Bonus and overtime

·     Guarantee tax free income

·     Free provision of Domestic servants

 

3.   Double taxation

a.          Definition

b.         Methods of double taxation

c.          Comprehensive agreement

d.         Conditions necessary for the grant of double taxation reliefs

e.          advantages of double taxation

f.            computation of double taxation reliefs

4.      Capital allowance

a.          Reasons and conditions of granting capital allowance

b.         Computation of capital allowance for various pool

5.      Withholding tax

a.          Priority of tax withheld by withholding agents

b.         Payments of tax withheld

c.          Applicable rates

1.         Business income

 

KEY READING LIST

1.         Ali Nakyea A., (2012) Taxation in Ghana, Principles, Practice and Planning.

2.         Victor K. A. A., (2013) Principles Concepts and Practice of Taxation.

 

OTHER READING LIST

3.         Otieku S., (1992); A Look at Factors Affecting Efficient Income Tax Administration in Ghana. (The Journal Management Studies) – Volume 8.

4.         Daniel J. B. & Gerald B., (2013), IRS Audit Protection and Survival Guide.

5.         Edward A. D., (2012) Income Tax, Gift Tax and Capital Gain Tax. EDA Publication

6.         Income Tax Act,2015, Act 896

7.         CEPS (Management) law 1993 (PNDCL 330)

8.         Value Added Tax Act, 2013, (Act 870)