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Question
Give two examples of direct taxes.
Answer in Brief
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Solution
Examples of direct tax are as follows:
- Income tax
- Corporate tax
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______ is an example of commercial revenues.
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| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Regressive |
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| (iv) | A tax system where the rate of tax increases as income increase | D. | Indirect taxes |
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