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The use of legally permissible means to reduce tax liabilities is known as tax?

Economics
JAMB 2020

The use of legally permissible means to reduce tax liabilities is known as tax?

  • A. evasion
  • B. avoidance
  • C. relief
  • D. exemption
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Correct Answer: Option C
Explanation

Tax relief is any government program or policy initiative that is designed to reduce the amount of taxes paid by individuals or businesses.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free