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Question
Identify the type of taxation shown in the figure below.
Options
Progressive taxation
Regressive taxation
Proportional taxation
Degressive taxation
MCQ
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Solution
Progressive taxation
Explanation:
When the rate of taxation rises, it is referred to as progressive taxation. As taxpayers' income rises, so does the amount of money they pay in taxes. With this tax structure, the tax rate rises in tandem with the increase in income.
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