What is Tax?

The video tutorial introduces the concept of taxes through the story of Robin Hood, who fought against unfair taxation by the sheriff of Nottingham. The teacher explains the importance of taxes in funding public services like schools, police, and infrastructure. The process of tax collection is discussed, including income tax, corporate tax, and stamp duty. The video concludes with a reflection on the necessity of taxes for running a country.

What was the main reason Robin Hood became a hero among the poor?

• He lived in Nottingham.

• He stole from the rich to give to the poor.

• He was a Lord with lots of money.

• He fought in a war.

According to the teacher, what is one of the primary uses of tax money?

• Paying for personal expenses of government officials

• Funding public services like schools and police

• Investing in foreign countries

• Building private businesses

Which of the following is NOT mentioned as a use of tax money?

• Maintaining military bases

• Building roads and bridges

• Providing waste management services

• Funding space exploration

How is income tax typically collected?

• By purchasing stamps

• As a one-time annual payment

• Through a monthly deduction from salaries

• By paying directly to the sheriff

What is stamp duty?

• A tax on corporate earnings

• A tax on imported goods

• A tax on income from jobs

• A tax on purchasing houses over a certain amount