JAMB Economics 2023 Objective — Question 31
Question 31 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2023 Objective paper, with the correct answer and a full explanation.
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An illegal way of not paying tax is referred to as tax
- A. (A) evasionCorrect
- B. (B) avoidance
- C. (C) escape
- D. (D) relief
Explanation
Illegally avoiding payment of tax (e.g. by falsifying records) is known as tax evasion, which is unlawful — unlike tax avoidance, which is a legal way of minimising tax liability.
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