ICAEW Principles Of Taxation Practice Questions - ICAEW ACA Certificate Level - Principles Of Taxation (Tax Fundamentals) Exam

Which of the following best describes a direct tax?

A tax charged on spending, collected by the seller A tax charged directly on the income, profits or gains of the person who bears it A tax that always rises as a percentage of income A tax collected only from companies

Correct Answer:

A tax charged directly on the income, profits or gains of the person who bears it

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