Wilson, a consumer, buys electronics worth AED60,000, while consumer Jackson buys for AED90,000 and consumer Stephenson...

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Wilson, a consumer, buys electronics worth AED60,000, while consumer Jackson buys for AED90,000 and consumer Stephenson spends to the value of AED240,000. VAT is charged at 5% on the price marked on the products. a) What is the VAT payable to the government? b) Explain the type of taxation system applicable in this situation. c) Is this system of taxation fair? d) Explain why this system is being criticized. Question 2 Wilson, a consumer, buys electronics worth AED60,000, while consumer Jackson buys for AED90,000 and consumer Stephenson spends to the value of AED240,000. VAT is charged at 5% on the price marked on the products. a) What is the VAT payable to the government? b) Explain the type of taxation system applicable in this situation. c) Is this system of taxation fair? d) Explain why this system is being criticized. Question 2