Principles of taxation - Jamb Economics Past Questions and Answers

Question 51:

• JAMB 2012

An ad valorem tax is imposed on

A. Special commodities
B. Exports
C. Imports
D. The value of a commodity

Question 52:

• JAMB 2020

The relationship between tax rate and income which is relevant to a proportional tax is depicted by?

A. Curve Z and Y
B. Curve X
C. Curve Z
D. Curve Y

Question 53:

• JAMB 2020

The use of legally permissible means to reduce tax liabilities is known as tax?

A. Evasion
B. Avoidance
C. Relief
D. Exemption

Question 54:

• JAMB 2021

If Mr. A earns N2.000 a year while Mr. B earns N8000 but Mr. A pays N200 in tax per annum while Mr. B pays N400, such tax is ____________

A. Progressive
B. Proportional
C. Indirect
D. Regressive

Question 55:

• JAMB 2021

The PAYE ( Pay As You Earn) in Nigeria is an example of ____________

A. Flat rate Tax
B. Community tax
C. Regressive tax
D. Progressive tax