3b. Koo papa was appointed the principal; of Asemansa Training college on 1st August 2020. On the occasion of his induction to office, he received the following gifts i. Cash of Ghc12,000,000 from the old boys association of the school of which he is a members, ii. Cash of $2000 from a friend in America, (exchange rate is ($1 = Ghc6.4) iii. Kente cloth valued at 4,300,000 from his brother in law. You are required to compute the gift tax payable to Koo Papa.

3b. Koo papa was appointed the principal; of Asemansa Training college on 1st August 2020. On the occasion of his induction to office, he received the following gifts i. Cash of Ghc12,000,000 from the old boys association of the school of which he is a members, ii. Cash of $2000 from a friend in America, (exchange rate is ($1 = Ghc6.4) iii. Kente cloth valued at 4,300,000 from his brother in law. You are required to compute the gift tax payable to Koo Papa.

Name: 3b. Koo papa was appointed the principal; of Asemansa Training college
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Description: 3b. Koo papa was appointed the principal; of Asemansa Training college on 1st August 2020. On the occasion of his induction to office, he received the following giftsi. Cash of Ghc12,000,000 from the old boys association of the school of which he is

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 34P

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