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Direct & Indirect Taxes

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Question

Short answer type questions:
Define tax revenue. What are the two kinds of tax revenues? Give two examples of each.

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Solution

A tax revenue is a compulsory payment to the government by the households,firms, or any other institutional units.
Two kinds of tax revenues are direct and indirect tax.
Two examples of direct tax are income tax and wealth tax.
Two examples of indirect tax are sales tax and excise duty.

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