Preview

Developing an Effective and Efficient Tax System in a Developing Economy - a Case Study of Ghana

Good Essays
Open Document
Open Document
29829 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Developing an Effective and Efficient Tax System in a Developing Economy - a Case Study of Ghana
UNIVERSITY OF CAPE COAST

SCHOOL OF BUSINESS

DEVELOPING AN EFFECTIVE AND EFFICIENT TAX SYSTEM IN A DEVELOPING ECONOMY - A CASE STUDY OF GHANA

A PROJECT WORK PRESENTED TO THE DEPARTMENT OF ACCOUNTING AND FINANCE, SCHOOL OF BUSINESS, UNIVERSITY OF CAPE COAST IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR AWARD OF A BACHELOR OF COMMERCE DEGREE.

JUNE 2005

MEMBERS OF THE PROJECT TEAM

NAME SIGNATURE NUMBER

1. ADU NUAMAH, Lydia ---------------------- 1. MAMAH, Joseph ---------------------- 10031682 2. FUMMEY, Randolph Yao ---------------------- 10032763 3. GYAASE, Emmanuel ---------------------- 4. GHANSAH, Isaac ---------------------- 5. HALIDU, Babamu Osman ---------------------- 6. TOGOMERY, Rester ---------------------- 7. AGYEKUM, Obeng Gideon ---------------------- 9. AMPAH-BRIENT, Edward ----------------------

TABLE OF CONTENTS

|Section |Contents |Page |
| |Table of contents |i-iv |
| |Acknowledgement |V |
| |Preface |Vi |
| |Certification |Vii |
| |Executive summary

You May Also Find These Documents Helpful

  • Powerful Essays

    I declare that this research project is my own, unaided work. It is submitted in partial fulfilment of the requirements of the degree of Master of Business Administration for the Gordon Institute of Business Science, University of Pretoria. It has not been submitted before for any degree or examination in any other…

    • 18721 Words
    • 75 Pages
    Powerful Essays
  • Good Essays

    A tax system is simply the collection of taxes in an economy. It is a sum of money paid by people or businesses to a government, to be used for public purposes. Taxes are raised through various means and the systems vary for each country. The main taxes in the UK, USA and Australia will be explained. Countries use the taxes they receive in different ways. Aims and targets of most countries vary, as does the amount of tax generated. Due to this, expenditure is prioritised and spent accordingly. Government expenditure will therefore also be discussed.…

    • 6900 Words
    • 28 Pages
    Good Essays
  • Good Essays

     Overall corporate tax should be the same as if the branch had been located in Kenya. Under this system, the Kenyan tax authorities Taxation of a Branch under the Credit System: Key problems: - Disagreement on profit allocation - Excess tax credits • Disagreement on profit allocation  Main problem is allocation of indirect costs which, by definition, cannot be allocated in any practical, logical way.…

    • 2205 Words
    • 13 Pages
    Good Essays
  • Powerful Essays

    In this assignment the discussion is critically based on the impact of taxpayers’ education provided by Tanzania Revenue Authority (TRA) to the taxpayers’ compliance on tax law and tax revenue collection…

    • 1604 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Chapter 5: The social and economic implications of the various ways of raising government revenue…

    • 11258 Words
    • 46 Pages
    Powerful Essays
  • Powerful Essays

    LOCAL GOVERNMENT TAX MOBILIZATION AND UTILIZATION IN NIGERIA: PROBLEMS AND PROSPECTS ABSTRACT The federal structure in Nigeria constrains local governments’ ability to mobilize and use revenue to meet their obligation in a sustainable way. Local government system as the third-tier of government deserves…

    • 5429 Words
    • 22 Pages
    Powerful Essays
  • Powerful Essays

    Tax Policy in Nigeria

    • 2265 Words
    • 10 Pages

    Given the foregoing, it is important that Nigeria adopt a taxation policy that would enhance national development. I am aware of the draft national tax policy that has been submitted for enactment by the National Assembly of Nigeria. My intention is to examine the Draft National Tax Policy with a view to correcting perceived flaws inherent in the document. To enhance the understanding of this paper, I begin with making a review Nigeria’s tax system and the current Draft National Tax Policy. I will attempt to identify the challenges inherent…

    • 2265 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Taxation in Uganda

    • 2375 Words
    • 10 Pages

    A key reform promoted by the IMF and World Bank was the restructuring of Uganda's taxation regime. One of the intentions was to lower the dependence on trade taxes, which reduced incentives for production, and to rely instead on indirect taxes on goods and services. Indirect taxes provided an average of 79.8 percent of total revenue between 1990-1998. Taxes on income and profits have steadily increased from 9.8 percent of total revenue in 1989 to 15.2 percent in 1998. Yet, of total taxes, about 50 percent still emanates from indirect taxes on only 4 products—petroleum, cigarettes, beer, and soft drinks. In fact, Uganda's tax revenue to GDP ratio is fifty percent below the African average.…

    • 2375 Words
    • 10 Pages
    Good Essays
  • Powerful Essays

    A Thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of COMMONWEALTH EXECUTIVE MASTER OF BUSINESS ADMINISTRATION…

    • 18329 Words
    • 74 Pages
    Powerful Essays
  • Powerful Essays

    References: Ahmed Iliyasu (2011): Revenue Allocation Formula in Nigeria: issues and challenges Being a Paper Presented at the Retreat Organised for Members of the Revenue Mobilisation Allocation and Fiscal Commission at Le Meridien, Ibom Hotel and Golf Resort, Uyo, Akwa Ibom State, Monday, 14th – Friday, 18th February, 2011…

    • 1368 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    In Ghana today, the government have an enormous task to raise revenue to enable it administration to perform certain vital functions that the private sector cannot and must not perform such as national defense, security and the maintenance of peace. The surest way by which governments can effectively raise the revenue required for these important purposes is through the imposition of taxes. Even though there are other sources of revenue open to governments, including the use of non-tax revenue, loans and grants, taxation has been found to be the most reliable, dependable and sustainable in achieving economic independence and development in Ghana. Following this assertion, it can be said that while in the short-run, governments can borrow, print money or sell assets, in the long-run there has to be a properly run tax system to raise sufficient revenues to meet ever- increasing government expenditure.…

    • 1659 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Copyright © 2012, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria.…

    • 21726 Words
    • 208 Pages
    Good Essays
  • Powerful Essays

    Controlling the negative externality effect is also the other area where tax law puts an important pressure to combat activities prone to jeopardizing other segments of the society. This law devises a mechanism to alleviate those problem associated with the externality effects due to hazardous products released from factories to the society which in consequence may pollute the environment and the health of the community at…

    • 1518 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Taxation

    • 7230 Words
    • 29 Pages

    Abstract As a fiscal instrument, direct taxes are used to adjust people‟s disposable income and to reduce the parameter of unearned incomes. At the macroeconomic level, taxes are used to redistribute income and therefore contribute to the economic growth of the country. This paper examines the empirical forms of tax on the economic growth in Nigeria. Secondary data were sourced within the periods of 1985-2011 and Model was specified and estimated using some econometric. The result showed that the determinant factor of economic growth in the country through tax, only custom and exercise duties is capable of influencing but has an inverse relationship and significant to the GDP. It is observed that economic instability were experienced between 1986-1987 and 1993 to 1995 but evident in the stability in the economic growth from the graph in the rest of the years of the study around bench mark value of zero line of the GDP predicted graph based on tax generations in Nigeria. The study therefore recommended that the company income tax system should be generally restructured to bring about more yielded revenue results capable of contributing more significantly to the Nigerian economic as it is done in the advanced countries of the world. Custom service operations and revenue generations in the border is not practically reflected in the economy due to no accountability, transparency and leakages in the system. Keywords: Tax, Model, Granger, Ramsey Reset, Influence and…

    • 7230 Words
    • 29 Pages
    Powerful Essays
  • Powerful Essays

    are required to pay taxes in Ghana or not. The purpose of this article is to clarify the taxation issues relating to the earnings of the footballers and their officials.…

    • 1983 Words
    • 6 Pages
    Powerful Essays

Related Topics