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Principles of Taxation describes the Ghanaian system of taxation; outlines the basic principles of taxation for individuals and corporations (entities) in addition to outlining key aspects of realisation of assets, VAT, and describes how taxes are administered by the Ghana Revenue Authority.
On completion of this module, candidates will reach a competency sufficient to be able to:
(A) Describe the key principles and bodies with responsibility for the Ghana Tax systems(B) Describe and explain fiscal policy measures in relation to taxation as a tool for economic management.(C) Explain the administration of the Ghanaian tax system(D) Explain and compute the income tax liabilities of individuals and partnerships(E) Explain and compute the corporate tax liabilities of companies(F) Explain and compute the taxation of gains arising from the realisation of assets by companies and individuals(G) Explain the treatment of gifts received for tax purposes(H) Explain and compute the impact of social security contributions and pension funds(I) Explain and compute value added tax on taxable supplies by taxable persons (J) Understand withholding tax administration