- 3 Marks
Question
Identify THREE circumstances under which tax revenue is said to be at risk. (3 marks)
Answer
The circumstances in which tax revenue is said to be at risk include:
- Bankruptcy, Winding-up, or Liquidation: When a person becomes bankrupt, is wound up, or goes into liquidation.
- Departure from Ghana: When the Commissioner-General believes on reasonable grounds that the person is about to leave Ghana indefinitely.
- Cessation of Activity: When the Commissioner-General believes on reasonable grounds that the person is about to cease activity in Ghana.
- Tax Law Offenses: When the Commissioner-General believes on reasonable grounds that the person has committed an offense under a tax law.
- Failure to Maintain Documentation: When the Commissioner-General considers it appropriate, including but not limited to cases where the person fails to maintain adequate documentation.
(Any 3 points for 3 marks)
- Tags: Risk, Tax Administration, Tax Revenue
- Level: Level 3
- Topic: Tax administration in Ghana
- Series: NOV 2017
- Uploader: Dotse