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PROFESSIONAL EXAMINATIONS
1
MORE TAX ACADEMY-MOCK EXAMS- direct Tax
Question 1
(a) Distinguish between Provisional Assessment and Self Assessment.
(b) State any Five (5) advantages of Self-Assessment over Provisional
Assessment.
c) List any FIVE Badges or Indicators of Trade and state any one decided Tax Case
in respect of each.
(d) State the significance of the Auditor’s Certificate to Examination of Accounts
for tax purposes.
Question 2
a) State the conditions to be satisfied by a taxpayer to qualify for Capital Allowance.
(8 marks)
Required
Compute the company’s Capital Allowances and Assessable Incomes for all the
relevant years.
N.B. Work to the nearest cedi
Question 3
Mr. Samuel Danso was appointed the Finance Manager of Hope Ventures Ltd on a salary of
GH¢42,000 a year with effect from 1st January, 2014.
a) Responsibility Allowance – GH¢500 a month
b) Medical Allowance GH¢500 a month
c) Non-Accountable Entertainment Allowance – GH¢50 a month
2
MORE TAX ACADEMY-MOCK EXAMS- direct Tax
Question 4
The Company provided him with furnished accommodation at Manet Estate in Accra and also
a car with free supply of fuel. He used the car for both business and private purposes
He is married and has three children. The eldest son is in Lagos University in Nigeria. His other
son is at Accra Academy SHS and the daughter is at Aburi Girls SHS.
He maintains all the children in addition to his 58 year old mother. He contributes 5.5% of his
salary to the Mandatory Pension Scheme.
REQUIRED
Compete the tax liability of Mr. Samuel Danso for 2014 Year of Assessment.