Assuming that you are watching a television programme dubbed “Taxation; an essential fiscal policy tool for moblizing resources for socio-economic development that has helped and hurt economies the world over including Ghana” with your dad who is fully aware that you are a Level 300 BBA Accounting student who has scored an “A” in Principles and Practice of Taxation Course. On the programme, avocates and economists for taxation are unanimous on the view
Monetary Policy and Interest Rate
Monetary policy refers to the policy which is enforced by the central bank of the country to control the money supply and economic development of the country. The main aim of monetary policy is to manage inflation, consumption, and growth of the economy. The central bank influences interest rates to manage the money supply. In monetary policy, the central bank may revise the interest rate to increase and decrease the flow of money.
Development of the US Monetary System
The monetary system of a country refers to the system in which a government provides money in the economy of the country. In the modern-day monetary system, usually it contains the National Treasury, the mint where the notes are being printed. The Central bank and the commercial banks regulate the money supply in the economy of a country.
Assuming that you are watching a television programme dubbed “
Required: What is your take on the matter above?
Instruction: All explainations and justifications to answers should be based on the Income Tax Act 2015 (Act 896), Revenue Administrative Act 2016 (915), the Value Added Tax Act, 2013 (Act 870), Income Tax (Amendment) Act, 2019 (Act 1007), Value Added Tax (Amendment) Act, 2019 (Act 1005), Free Zones Act, 1995, (Act 504) as well as other relevant tax laws in Ghana if applicable.
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