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WAEC Economics 1992 Question 25

Question 25

Public Finance

The largest part of the revenue of a country is derived from

  1. A.direct taxation
  2. B.indirect taxation
  3. C.excise duties
  4. D.company taxes
  5. E.non-tax revenue.
Show the answer and explanation

Answer: B (indirect taxation)

Explanation

In most West African countries taxes on goods (import, export and excise duties, sales taxes) bring in more than direct taxes.