TAX QUIZ. 1. TRUE OR FALSE A tax on money that people receive from their earnings. Is VAT.

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Presentation transcript:

TAX QUIZ

1. TRUE OR FALSE A tax on money that people receive from their earnings. Is VAT.

2. WHAT IS CORPORATION TAX???

3.TRUE OR FALSE A tax based on property set by local council and used to pay for local services. Is council tax.

4.TRUE OR FALSE A tax on the value of the money, property or possessions that someone leaves when they die. Is corporation tax

5.WHAT IS NATIONAL INSURANCE CONTRIBUTION ???

6.TRUE OR FALSE Tax paid on the difference in price that something is bought or sold for. Is excise duty.

7.WHAT IS EXCISE DUTY???

ANSWERS  1. False  2. A tax on company profits  3. True  4. False  5. A tax based on a persons weekly income that is used to pay for benefits  6. False  7. A tax on goods such as fuel, alcohol, tobacco and betting.