Economics · Taxation Structure & Classification
Which of the following statements regarding the classification and characteristics of public revenue and taxation are correct? I. Taxes are compulsory contributions imposed by the government without any direct return benefit to the taxpayer. II. Corporate tax and income tax are examples of indirect taxes that aim at reducing income inequality. III. Direct taxes are generally progressive in nature and aim at reducing income inequality. IV. Indirect taxes, such as the Goods and Services Tax, are easier to collect and possess a wider base. Choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, III and IV Only✓
- 2I, II and IV Only
- 3II, III and IV Only
- 4I, II and III Only
Correct answer
I, III and IV Only
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