Complete the sentence below by placing one of the following options in the space. A...
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Finance
Complete the sentence below by placing one of the following options in the space. A taxable person is ______.
Select one:
a. The person or entity who is responsible for completing the tax return
b. The person or entity who is accountable for the tax payment
c. The country whose tax laws apply to the entity
d. The person or entity who has direct contact with the tax authority
In Country Y, A earns R75,000 profit for the year and receives a tax bill for R17,000. B earns R44,000 profit for the year and receives a tax bill for R4,800. Country Ys income tax could be said to be a:
Select one:
a. Fixed rate tax
b. Proportional tax
c. Progressive tax
d. Regressive tax
A withholding tax is:
Select one:
a. Tax paid on increases in value of investment holdings
b. Tax paid less an amount withheld from payment
c. Tax deducted at source before payment of interest or dividends
d. Tax withheld from payment to the tax authorities
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