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- 3 Marks
Question
The Income Tax Act, 2015 (Act 896), provides under subsection (2) of section 100 a list of worthwhile causes approved by the Government that a person can deduct in the course of doing business.
Required:
Explain THREE (3) worthwhile causes and the basis of approval by the Commissioner-General of GRA? (3 marks)
Answer
- Charitable Organizations: Organizations must possess written approval issued by the Commissioner-General in accordance with Section 97 of the Act.
- Scheme or Course of Study: Scholarship schemes for academic, technical, or professional courses must be approved in writing by the Minister for Education.
- Rural or Urban Development: Activities for the development of urban or rural areas must be attested by the Minister for Local Government to be considered a worthwhile cause.
- Sports Development or Promotion: Activities promoting sports must be supported by a written attestation from the Minister for Youth and Sports.
- Other worthwhile causes: As approved by the Commissioner-General. (3 marks for 3 points)
- Topic: Tax administration in Ghana
- Series: NOV 2018
- Uploader: Dotse