Question

Match each type of tax with an example of its use

Answer 1

A. 1%

B.15%

C.5%

These are the correct answers for this question

Answer 2

A- Property tax --- 1 percent charged on the value of all residential houses.

B- Personal income tax --- 15 percent charged on all wages.

C- Capital gains tax --- 5 percent charged on profits from selling stocks.

Step-by-step explanation:

A- A property tax is responsible for collecting the taxes that must be paid for the homes that each individual has.

B- Income tax taxes the profit of individuals, companies, or other legal entities. Income tax is the backbone of the tax system because it links savings with investment, and has repercussions on incentives in labor markets and ventures.

C- A capital gains tax is a tax on the profit (surplus value) obtained by the sale of an asset that was purchased at a certain cost that was lower than the amount subsequently obtained with the sale.