Question : Which of the following is a source of tax revenue?
Option 1: Penalties
Option 2: Customs
Option 3: Profits
Option 4: Grants
Correct Answer: Customs
Solution : The correct option is Customs.
Customs duties are a significant source of tax revenue. They are taxes imposed on goods when they are imported or exported between countries. They are also known as tariffs. The rates of the goods can vary based on the type of goods, their country of origin and the trade agreements in place.
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Question : Among the tax revenues of the Union Government, the most important source is:
Option 1: income tax
Option 2: customs duty
Option 3: corporation tax
Option 4: union excise duties
Question : Which of the following may be classified as a 'Pigouvian tax'?
Option 1: Income tax
Option 2: Carbon tax
Option 3: Corporate tax
Option 4: Long term capital gain tax
Question : Which of the following is an indirect tax?
Option 1: Death duty
Option 2: Interest tax
Option 3: Goods and services tax
Option 4: Capital gains tax
Question : Which of the following taxes is proportional in nature?
Option 1: Capital Gains Tax
Option 2: Income Tax
Option 3: Corporation Tax
Option 4: Goods and Services Tax
Option 1: Capital gains tax
Option 2: Excise duty
Option 3: Wealth tax
Option 4: Estate duty
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