GCE Economics 2023 Objective — Question 40
Question 40 of 50 from the General Certificate of Education (GCE) Economics 2023 Objective paper, with the correct answer and a full explanation.
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Taxes levied on goods and services by governments are called A. direct taxes B. corporate taxes C. indirect taxes D. poll taxes
- A. direct taxes
- B. corporate taxes
- C. indirect taxesCorrect
- D. poll taxes
Explanation
Indirect taxes (e.g. sales tax, purchase tax, excise duty, VAT) are levied on goods and services, unlike direct taxes which are levied on income, profit or property.
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