Which one of the following is a tax on the profit made by a private limited company in the UK?
Select one answer:
A Value Added Tax
B Distribution Tax
C Income Tax
D Corporation Tax - Edexcel - GCSE Business - Question 14 - 2017 - Paper 1
Question 14
Which one of the following is a tax on the profit made by a private limited company in the UK?
Select one answer:
A Value Added Tax
B Distribution Tax
C Income ... show full transcript
Worked Solution & Example Answer:Which one of the following is a tax on the profit made by a private limited company in the UK?
Select one answer:
A Value Added Tax
B Distribution Tax
C Income Tax
D Corporation Tax - Edexcel - GCSE Business - Question 14 - 2017 - Paper 1
Step 1
Select one answer:
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Answer
The correct answer is D Corporation Tax. This is the tax that private limited companies pay on their profits in the UK. Other options like Value Added Tax (VAT) are indirect taxes and do not apply to profits.
