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WAEC Economics 2021 Question 40

Question 40

Public Finance

People who dispose of their assets are expected to pay

  1. A.value added tax.
  2. B.capital gains tax.
  3. C.expenditure tax.
  4. D.sales tax.
Show the answer and explanation

Answer: B (capital gains tax.)

Explanation

Capital gains tax is charged on profits from selling assets.