Question
1) Neutrality, Efficiency, Certainty and simplicity, Effectiveness and fairness and Flexibility are principles that should be on the basis of tax systems. Select one: True
1) Neutrality, Efficiency, Certainty and simplicity, Effectiveness and fairness and Flexibility are principles that should be on the basis of tax systems.
Select one:
True
False
2) Tax on corporate profits is defined as taxes levied on the gross income plus the allowable tax reliefs of enterprises.
Select one:
True
False
3) In the example below are the tax rate is:
The tax rate would be 20 percent for everyone. This would mean that someone who makes a total of 100,000 annually would pay 20,000 worth of taxes each year, having 80,000 worth of income left. On the other hand, for someone whose annual income is only 20,000 the taxes levied would result in 4,000 per year in taxes, leaving only 16,000 of income left.
a. Proportional
b. Progressive
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