Question
Which of the following taxes is the one by which the revenue collected rises proportionally with income?
- Regressive tax
- Progressive tax
- Corporate tax
- Proportional tax
Answer: Option D
Answer: (d)
Proportional tax is one by which the revenue collected rises proportionally with income.
A tax system could be made approximately proportional by having a uniform rate of income tax with very few exemptions, and indirect taxes levied at similar rates on as many goods and services as possible
Was this answer helpful ?
Answer: (d)
Proportional tax is one by which the revenue collected rises proportionally with income.
A tax system could be made approximately proportional by having a uniform rate of income tax with very few exemptions, and indirect taxes levied at similar rates on as many goods and services as possible
Was this answer helpful ?
More Questions on This Topic :
Question 1. Indirect taxes by nature are
....
Question 7. VAT is imposed:
....
Question 9. Globalisation does not include....
Latest Videos
Latest Test Papers
Submit Solution