11.3 Types of Taxes

A tax in which the tax rate remains the same regardless of the amount on which the tax is imposed.

(a)  

A progressive tax is based on.......?

• A flat tax

• Income Tax

• Regressive tax

• on the ability to pay

Based on the table provided what is the tax rate that the state governmnet is using on the example.

• 0.06%

• 6%

• 60%

• None of the above

Sales tax is based on.......?

• tax on material goods owned.

• tax levied on the retail pruce of goods and services

• tax on oil

• none of the above

What tax is the main source of revenue for most local governments?

• Sales Tax

• property tax

• FICA tax

• Income Tax

What affect does tax have on business decisions. Ensure you write atleast two sentences to explain your answer.

A regressive tax is based on what assumption

• The actual tax rate remains unchanged

• Tax fluctuates

• the actual tax rate decreases as the taxable amount increases.

• None of the above answers.

A real property tax is a tax on (a)  

Assessed Valuation is based on two of the following aspects.

• Value of property

• Value of goods and services

• and tax official

• None of the above

What is the current VAT % in the UAE?

• 15%

• 10%

• 5%

• There is no VAT in the country.