ECONOMICS
FISCAL POLICY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Property
|
|
|
Sales
|
|
|
Payroll
|
|
|
Income
|
Detailed explanation-1: -It includes collections from income tax, corporation tax, customs, wealth tax, tax on land revenue, etc. Direct tax is the tax that is paid directly to the government by the person or company on whom it is levied. Income tax, wealth tax, corporation tax, and property tax are some examples of direct tax.
Detailed explanation-2: -Professional tax, VAT, and motor vehicle tax are some of the taxes that are levied and collected by the state. When it comes to taxes levied on individuals or organisations, there are two broad types of taxes.
Detailed explanation-3: -The correct answer is Interest tax.
Detailed explanation-4: -State and local governments collect tax revenues from three primary sources: income, sales, and property taxes. Income and sales taxes make up the majority of combined state tax revenue, while property taxes are the largest source of tax revenue for local governments, including school districts.