chapter 2 Flashcards
(4 cards)
1
Q
Name two direct taxes
A
income tax
withholding tax
2
Q
name an indirect tax
A
value added tax
3
Q
what is turnover tax
and how calculated
A
turnover tax for micro businesses with annual turnover of 1 mil or less
calculated on taxable turnover (not taxable income)
4
Q
A
