We read about some of the major taxes collected by the government. 1.

We read about some of the major taxes collected by the government. 1.) Fill the table from the information given below. Income Tax: 12%; Corporation Tax: 24%; Customs Duty: 10%; Excise Duties: 16%; Service Taxes: 5%; Sales Tax: 23%; Other Indirect Taxes: 10%.TaxesPercentage of Total TaxDirect TaxesIncome taxCorporate TaxIndirect TaxesCustoms dutyExcise dutyService taxesSales taxesOther taxesTotal taxes2) Which kind of taxes generate more revenues for the government?

Answer»

1. Taxes Collected by the Government

2. 1. Indirect taxes generate more income. They contribute 64% of all the taxes.

2. Corporate tax contributes 24% of the taxes and sales tax contributes 23% of the taxes.