2022 ANNUAL RATESINDIVIDUAL INCOME TAX SCHEDULE NO CHARGEABLE INCOME RATE OF TAX First GHS 4,380 NilNext GHS 1,320 5 percentNext GHS 1,560 10 percentNext GHS 36,000 17.5 percentNext GHS 196,740 25 percentExceeding GHS 240,000 30 percentQuestion 2(a)Taxation as a fiscal policy is a very helpful tool in most economies, however some researcher believes that in Ghana, it has become a curse to the economic development and growth of the country. Discuss

Taxation is an important fiscal policy tool used by governments to generate revenue for the…

Answered: 2 ANNUAL RATES INDIVIDUAL INCOME TAX…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2022 ANNUAL RATES

INDIVIDUAL INCOME TAX SCHEDULE

NO CHARGEABLE INCOME RATE OF TAX

First GHS 4,380 Nil
Next GHS 1,320 5 percent
Next GHS 1,560 10 percent
Next GHS 36,000 17.5 percent
Next GHS 196,740 25 percent
Exceeding GHS 240,000 30 percent

Question 2(a)

Taxation as a fiscal policy is a very helpful tool in most economies, however some researcher believes that in Ghana, it has become a curse to the economic development and growth of the country. Discuss

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