Ghana has not entered into Double Taxation Agreement (DTA) with the government of Nigeria. Kumuga, a resident person of Ghana approached you this morning to explain to him whether foreign tax credit relief covers those residents trading in Nigeria. Required State your responses to Kumuga on the above issue? b. Amafiman Rural Bank commenced operation on 1st January, 2018, preparing account to 31st December each year. The Income statement for the year ended 31st December, 2019 is shown below. Income statement for the year ended 31st December, 2019 GH¢ Profit before tax 700,000

Ghana has not entered into Double Taxation Agreement (DTA) with the government of Nigeria. Kumuga, a resident person of Ghana approached you this morning to explain to him whether foreign tax credit relief covers those residents trading in Nigeria. Required State your responses to Kumuga on the above issue? b. Amafiman Rural Bank commenced operation on 1st January, 2018, preparing account to 31st December each year. The Income statement for the year ended 31st December, 2019 is shown below. Income statement for the year ended 31st December, 2019 GH¢ Profit before tax 700,000

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter25: Taxation Of International Transact Ions

Section: Chapter Questions

Problem 8DQ

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Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019. Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019. It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of thewhole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales.Phumlani now wishes to balance off his consignment account at his financial year end 31st December 2019 and transfer the profit to date to his profit and loss…
Phumlani of South Africa consigns 10 cases of goods costing $200 per case to Christian in Ghana on the 1st July 2019. Phumlani ends his account on 31st December of every financial year.a. Phumlani pays $250 for carriage and insurance for the whole consignment on 1st July 2019.Phumlani receives an interim account sales with a bank draft from Christian on 28th December 2019. It shows the following and all currencies converted into US dollars ($):b. Christian has sold 8 cases of goods for $400 each.c. Christian has paid a total of $150 for landing charges and import duties on receipt of the whole consignment.d. He paid selling costs in respect of the 8 cases sold amounting to $160.e. He has deducted his commission of 10% in respect of the 8 cases sold.f. Christian encloses a bank draft of $2,570 to the account sales.Phumlani now wishes to balance off his consignment account at his financial year end 31st December 2019 and transfer the profit to date to his profit and loss…
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Kindly help me with tax in the Philippines. Thank you!
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New America, Inc., a USA exporter of computer hardware intends to open a retail subsidiary in Kabul, Afghanistan sometime during tax year 2019. New America’s chief accountant has contacted our firm to inquire about income taxation for this planned business in Afghanistan and about the income tax obligations they might incur if they followed through with their plan. They also have asked to compare the Afghanistan tax rates and the rules governing ordinary and necessary business deductions to the respective US tax provisions. set up the memorandum. Conduct appropriate research and cite all relevant primary authority (tax code, regulations, etc.).