A tax levied on a firm's profits is known as:
AIncome tax.
BSales tax.
CCorporation tax.
DProperty tax.
AIncome tax.
BSales tax.
CCorporation tax.
DProperty tax.
Related Questions:
Consider the following statements regarding the ‘Regressive taxation’:
I.Regressive taxation method has decreasing rates of tax for increasing value or volume on which the tax is being imposed.
II.For regressive taxation are not any permanent or specific sectors for such taxes.
III.The regressive taxation method while appreciated for rewarding the higher producers or income-earners is criticised for being more taxing on the poor and low-producers.
Which of the following statement(s) is/are correct?