Advantages to the Government:

• It ensures prompt payment of taxes.
• It avoids delays in the issuance of assessments.
• It saves time for Revenue Officers that can be used for other equally important work.
• It reduces collection costs for the Ghana Revenue Authority.
  (Any 2 points @ 1.25 marks each = 2.5 marks)

Advantages to the Taxpayer:

• Taxpayers know their business and circumstances better and can thus make the best of estimates.
• The taxpayers are given the benefit to revise their estimates.
• There is a healthy interaction between the taxpayers and the Ghana Revenue Authority.
• It promotes accurate record keeping for the taxpayers.