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WAEC Commerce 2009 Question 18

Question 18

Government and Business

The tax paid on goods produced within a country is known as

  1. A.import duty
  2. B.excise duty
  3. C.ad valorem duty
  4. D.customs drawback
Show the answer and explanation

Answer: B (excise duty)

Explanation

Excise duty is levied on locally produced goods.