In relation to the following taxes, match the tax with its appropriate explanation - Leaving Cert Economics - Question 1 - 2017
Question 1
In relation to the following taxes, match the tax with its appropriate explanation.
(One explanation has no match.)
Tax
A VAT
B DIRT
C PAYE... show full transcript
Worked Solution & Example Answer:In relation to the following taxes, match the tax with its appropriate explanation - Leaving Cert Economics - Question 1 - 2017
Step 1
A - VAT
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Answer
5: A tax on purchases of goods and services.
Step 2
B - DIRT
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Answer
4: A tax on interest earned on deposits in financial institutions.
Step 3
C - PAYE
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Answer
1: A tax on income.
Step 4
D - Customs duty
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Answer
2: A tax on goods imported into a country.
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