WAEC Economics 2025 Objective — Question 43
Question 43 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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Tax avoidance best refers to attempts by a payer to
- A. conceal income deliberately thereby paying no tax.
- B. always seek for tax holidays during which he will not pay tax.
- C. legally exploit the loopholes in tax laws to pay less tax.Correct
- D. escape illegally from the tax net thereby paying no tax at all.
Explanation
Tax avoidance is the legal exploitation of loopholes in tax law to reduce one's tax liability.
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