ECONOMICS
FISCAL POLICY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
____ is a tax on the assets of a person who has died
|
|
estate tax
|
|
|
customs duty
|
|
|
tax return
|
|
|
gift tax
|
Explanation:
Detailed explanation-1: -An estate tax is imposed on an individual’s assets/ estate after death, whereas a gift tax is paid while the taxpayer is alive. Gift taxes are such that they prevent an individual from transferring all of their estate to the heirs during their lifetime so as to avoid paying estate tax.
There is 1 question to complete.