EXPECTED REVENUE Items Amount m Rents and royal... - WAEC Economics 2015 Question
| Items | Amount ($m) |
| Rents and royalties | 75.00 |
| Company income tax | 150.00 |
| Custom and excise duties | 300.20 |
| personal income tax | 80.00 |
| Fees and fines | 60.00 |
| value added tax | 100.00 |
Use the information to answer the following question
what is the total revenue from indirect tax
A
$686.0 m
B
$400.20 m
C
$135.80 m
D
$100.00 m
correct option: b
Inditect tax is a tax levied on goods and services rather than on income or profits. Thus we have;
Indirect tax = customs and excise duties + value added tax
300.20 + 100.00 = 400.20
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