A tax system which takes lesser percentage of a tax payers income as his income increase is known as
a
direct tax
b
indirect tax
c
progressive tax
d
proportional tax
e
regressive tax
Explanation
Correct Option
cNo explanation available
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bonjay
9 years ago
The selected answer is wrong:
a regressive tax is a tax system whereby as income increases tax decreases
REF: essential textbook
