Question 3: The two fundamental tax principles are [5 pts]

O Direct taxes and indirect taxes

O Tax morality and tax neutrality

O Income tax and withholding tax

O Income tax and value added tax

Question 4: Tax havens and international offshore financial centers are [5 pts]

O Located in every financial centers and small islands around the world.

O Located in countries that have a low corporate tax rate, unstable currency and stable government.

O Located in countries that have no corporate tax rate, a stable currency and stable government.

O Located in countries that have a low corporate tax rate, a stable currency and stable government.

Question 5: Nations structure their tax systems along two basic approaches: [5 pts]

O The global approach and the national approach

O The global approach and the territorial approach

O The worldwide approach and the territorial approach

O The worldwide approach and the local approach