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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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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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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709