Tax

Question 1

Who pays tax?

Answer 1

• GST - paid by consumers
• company taxes - paid by companies
• exercise duty - paid by manufacturer on essential items
• Individual taxes - paid by wage earners
• Customs duty - paid by importer

Question 2

What are the types of taxes?

Answer 2

• GST - 10% on goods and services
• Direct tax - paid by the person taxed
• Indirect tax - not paid by the person taxed
• Proportional tax - fixed percentage of income is paid in tax
• Progressive tax - rate of taxation is paid according to income
• Regressive tax - as income increases, tax decreases