WAEC Economics 2021 Objective — Question 40
Question 40 of 50 from the West African Examinations Council (WAEC) Economics 2021 Objective paper, with the correct answer and a full explanation.
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40. People who dispose of their assets are expected to pay
- A. value added tax.
- B. capital gains tax.Correct
- C. expenditure tax.
- D. sales tax.
Explanation
Tax paid on the profit from disposing of (selling) an asset is capital gains tax.
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