Which levy is generally imposed on goods entering a country through importation?
Correct answer: D. Customs duty
- A. Capital gains tax
- B. Property tax
- C. Payroll tax
- D. Customs duty
Explanation
Customs duty is commonly charged on imported goods as they enter a country. Property tax concerns ownership or occupation of property, while payroll and capital gains taxes apply to different tax bases.
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About Taxation
Taxation covers the principles used to assess and collect taxes from individuals, businesses and transactions, with emphasis on income tax and sales tax concepts in Pakistan. Questions involve taxable income, exemptions, deductions, tax liability, withholding, returns, assessment, tax avoidance versus evasion, and the distinction between direct and indirect taxes.
Practise Taxation
50 free Taxation MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
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