A) Have no effect on tax liabilities B) Directly reduce the amount of tax owed C) Only apply to wealthy individuals D) Increase the overall tax rate
A) Tax rate B) Tax deductions C) Tax credits D) Tax brackets
A) Tax rebate is based on overpaid taxes, whereas a tax refund is a specific amount returned B) Tax rebate is a specific amount returned, whereas a tax refund is based on overpaid taxes C) Both terms refer to the same process D) Tax rebate is when taxes are due, whereas a tax refund is voluntary
A) Ensure high-income individuals pay a minimum amount of tax B) Abolish income tax altogether C) Lower taxes for all individuals D) Apply higher tax rates for low-income earners
A) 25% B) 37% C) 35% D) 30%
A) Tax on high-end goods and services to generate revenue B) Exempt luxury goods from taxes C) Tax on essential goods and services D) Tax relief for low-income individuals
A) Evading taxes to reduce tax liability B) Ignoring tax laws with no consequences C) Individuals and businesses following tax laws and regulations D) Paying taxes voluntarily
A) Tax avoidance B) Tax planning C) Tax collection D) Tax evasion |