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Question
The tax whose rate remains unchanged irrespective of the income of the taxpayer is called as ______.
Options
Progressive tax
Regressive tax
Direct tax
Proportional tax
Solution
Proportional tax
Explanation:
As with the Goods and Services Tax, the proportional tax rate remains constant regardless of the taxpayer's income.
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RELATED QUESTIONS
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Instruments of fiscal policy is:
Observe the relationship of the first pair of words and complete the second pair:
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