WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
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Taxes levied on goods and services by government are called

Economics
WAEC 2023

Taxes levied on goods and services by government are called

  • A. indirect taxes
  • B. direct taxes
  • C. coporate taxes
  • D. poll taxes
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WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
Correct Answer: Option A
Explanation

Taxes levied on goods and services by the government are called indirect taxes. Indirect taxes are taxes that are collected from businesses when they sell goods or services. The businesses then pass the tax on to consumers in the form of higher prices.


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WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
WAEC GCE Nov/Dec 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 332996
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group