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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