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WAEC Economics 2001 Question 42

Question 42

Public Finance

Tax evasion means

  1. A.postponing payment of tax
  2. B.tax payment according to ability to pay.
  3. C.making false declaration of taxable income
  4. D.paying little amount of money as tax.
Show the answer and explanation

Answer: C (making false declaration of taxable income)

Explanation

Tax evasion is illegally avoiding tax, e.g. by under-declaring income.