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