L507 - World taxes

Tax is imposed by the government because _______

• It acts as a substantial revenue for the government

• Government is able to manage the demand in the market

• Brings equality to income and wealth in the country

• All of the above

______ type of tax is imposed on the supply of goods and services.

• Supply tax

• Income tax

• Goods and Service tax (GST)

• Property tax

These taxes are direct taxes:

• Income tax

• Capital gain tax

• Sales tax

• Value added tax

What kind of tax is GST?

• Direct tax

• Indirect tax

• depends on the type of goods and service

• None of the above

_____ is the country that offers businesses and individuals with low or no income tax.

Tax Haven countries are ______

• India

• The Bahamas

• USA

• Bahrain