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Kwadwovi Ameko stayed in the UK for over 25 years where he was a professional boxer. He decided to settle back home in Ghana when he turned 50. He returned to Ghana in November 2018 with his total savings of 5,000. He also brought a slightly used BMW Saloon car valued at GHS25,000 and decided to set up his own business which he began on 1/1/2019. He changed his 1,250 at the rate of GHS6.8 for 1, raising GHS8,500 which he used as his working capital. He has an estate house at Abeka Lapaz which he purchased in 1983 before leaving for the UK. He used his garage as a factory where he installed machines for purifying water. The machine cost him GHS2,500 which he paid from his money from abroad and deposited the remaining GHS6,000 in his GCB account. Many Pure Water retailers registered with him hence his business was very successful. In January 2020, the domestic Tax Revenue Division of the Ghana Revenue Authoritys office at Abeka Lapaz invited him for discussion on his tax affairs since he had so far not paid any tax on his income. The following facts emerged during the discussions: 1. He purchased a Delivery Van costing GHS3,000 during the 2019 year of assessment. 2. He had also acquired two new machines costing GHS5,000 during the year under review. 3. He had extended his garage/factory at a cost of GHS,000. By the end of the 2019 year of assessment some customers owed him GHS7,500 whereas he owed an amount of GHS1,500 in respect of water and electricity. He caused to be transferred from UK an amount equivalent to GHS5,000 being winnings on football bet he staked before leaving the UK, which amount was transferred into his bank account with GCB bank. His wife and his children are still living in the UK, making him stay in Ghana alone, since the children are all working in the UK. His private living expenses for 2019 were as follows: GHS Rent/Rates 400 Food 2,400 Social Activities 250 Required: Determine Kwadwovi Ameko Chargeable Income for the year 2019.

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