Economics · Corporate Tax
Which of the following statements best describes Corporate Tax?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A local tax levied on the immovable property owned by corporate offices.
- 2A tax levied exclusively on the gross turnover of a business entity.
- 3An indirect tax imposed on the sale of goods and services by companies.
- 4A direct tax levied on the net profit or income of corporations and companies.✓
Correct answer
A direct tax levied on the net profit or income of corporations and companies.
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