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JAMB Economics 1979 Question 11

Question 11

Public Finance

Which of the following is not a direct tax?

  1. A.Company income tax
  2. B.Capital tax
  3. C.Purchase tax
  4. D.Personal income tax
  5. E.Capital gains tax.
Show the answer and explanation

Answer: C (Purchase tax)

Explanation

Purchase tax is charged on goods bought and can be passed on to buyers, so it is an indirect tax.