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what is the total revenue from indirect tax

Economics
WAEC 2015

EXPECTED REVENUE
Items Amount ($m)
Rents and royalties 75.00
Company income tax 150.00
Custom and excise duties 300.20
personal income tax 80.00
Fees and fines 60.00
value added tax 100.00

Use the information to answer the following question 

what is the total revenue from indirect tax

  • A. $686.0 m
  • B. $400.20 m
  • C. $135.80 m
  • D. $100.00 m
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Correct Answer: Option B
Explanation

Inditect tax is a tax levied on goods and services rather than on income or profits. Thus we have;

Indirect tax = customs and excise duties + value added tax
300.20 + 100.00 = 400.20


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