Complete the sentence below by placing one of the following options in the space. a taxable person is ...
- the person or entity who has direct contract with the tax authority
- the person or entity who is responsible for completing the tax return
-the person or entity who is accountable for the tax payment
- the country whose tax laws apply to the entity
Complete the sentence below by placing one of the following options in the space. tax evasion is
- deferring tax payments
- delaying tax payments
- a legal way of avoiding paying taxes
- an illegal way of avoiding paying taxes
Developed countries generally use three tax bases one tax base widely used is income what is another widely used tax base?
- redemption
- profit
-earnings
- assets
- salary
Which of the following could be said to be a progressive tax ?
- corporate wealth tax at 2 % of total net asset up to R 10 million then at 0.5 % on net asset greater than R 10 million
-value added tax at a rate of 0% 10% or 15 % depending on the type of goods or services provided
- personal income tax of 10 % on earnings up to R10 000 then at 15 % from R10 001 up to R100 000 and 25 % over R 100 000
- property sales tax of 1 % of the selling price of all properties sold.