Question: A. MOA Limited Invested 40% Equity In Another Ghanaian Company In Early 2017 In Respect Of Which It Received Dividends Of GHC20,000 (GROSS) For The Year. MOA Limited Also Sold 10% Of Its Equity In Another Ghanaian Company In 2017 And Made A Realised Sum Of GHC300,000. The Cost Base Of The Shares Was GHC20,000. REQUIRED: Determine (if Any), The Capital …

businessfinancefinance questions and answersA. MOA Limited Invested 40% Equity In Another Ghanaian Company In Early 2017 In Respect Of …Question: A. MOA Limited Invested 40% Equity In Another Ghanaian Company In Early 2017 In Respect Of Which It Received Dividends Of GHC20,000 (GROSS) For The Year. MOA Limited Also Sold 10% Of Its Equity In Another Ghanaian Company In 2017 And Made A Realised Sum Of GHC300,000. The Cost Base Of The Shares Was GHC20,000. REQUIRED: Determine (if Any), The Capital …This question hasn’t been answered yetAsk an experta. MOA Limited invested 40% equity in another Ghanaian company
in early 2017 in respect of which it received dividends of
GHC20,000 (GROSS) for the year. MOA Limited also sold 10% of its
equity in another Ghanaian company in 2017 and made a realised sum
of GHC300,000. The cost base of the shares was GHC20,000. REQUIRED:
Determine (if any), the capital gains tax on the company’s Gains
and Losses on the realisation of the shares of MOA Ltd in the other
company. Advice the directors of MOA Ltd on how the company can
either minimise or defer its tax liability on realisation of its
shares. (6 marks) b. The Government intends to discourage
drastically, the importation of Television Sets and rather create
local demands for Kantanka as part of efforts to “Grow Made in
Ghana products”. The following data is relevant: 4,000 pieces of
Television Sets at a cost of GHS2,200 per one were imported in
March 2015 from USA by Medaase Enterprise. The cost of freight was
GHS100 per a Television Set via ET Airline. Additional information:
Rate of Duty 20% Rate of Duty: GHS80 per a Television set i. Using
the above, compute the taxes payable under both the ad-valorem and
specific methods. (6 marks) ii. Advise the government on which
method would help achieve. The Government’s intended action and
why? (2 marks) (Note: Assume that the television sets were imported
by air). c) Nsempahene Enterprise is a dealer in rice. It s its
rice from the Rice Masters a wholesaler and sells to retailers. It
has not over the years deducted a withholding tax on payments to
its suppliers and its management is contemplating doing so to avoid
any possible sanctions from Ghana Revenue Authority. It has
received a letter from the Ghana Revenue Authority to conduct a tax
audit on its activities. Ahead of the tax audit, the management has
invited you as a Tax Consultant to come and conduct tax health
check on its operations and put things right. Required: Advise the
Company on the withholding tax situation on payment to its
suppliers.
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