USA CITIZENSHIP TEST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Building new public schools for students
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providing programs to help the homeless and poor
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helping businesses open up more stores internationally
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helping citizens get the healthcare they can’t afford
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Detailed explanation-1: -Revenue to the government from sources other than taxes is called non-tax revenue e.g. income from interest, dividend, fees, fines, etc. Q. State two differences between tax on income and tax on a commodity.
Detailed explanation-2: -Indirect Tax:It is defined as the tax levied not on the income, profit or revenue but the goods and services rendered by the taxpayer. Unlike direct taxes, indirect taxes can be shifted from one individual to another.
Detailed explanation-3: -Corporation Tax popularly known as Corporate Tax is a direct tax levied on the net income or profit that corporate enterprises make from their businesses. The tax is imposed at a specific rate as per the provisions of the Income Tax Act, 1961.