All these are examples of indirect taxes EXCEPT ----------
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Which of these type of tax is sometime referred to as expenditure taxes?
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When taxes are imposed directly on the income of individual and companies is ---------?
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One of these tax classification allow poor man to pay tax at a higher rate
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Which of these classifies rate of tax decreases as the income of the taxpayer increases
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Which of this is allowable deductions?
A. Capital expenditure
B. Rent and cost of repairs to any premises for producing income
C. Rent and rates
D. Any sum reserved out of profits except there is an expression permission of section 20 of the PITA
Answer: C
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What is an unearned income?
A. This connotes rents, dividends, royalty, discounts which may be received net of withholding tax
B. This connotes wages, salaries which may be received net of withholding tax
C. This connotes individual annual income not discovered but realised solely for drawings
D. None of the above
Answer: A
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Define earned income
A. Income derived from persons whose trade is resident outside Nigeria
B. Income gained by a business on daily bases
C. Income derived from a trade carried on by a person and a pension derived by him in respect of any previous income
D. Income restricted to class of people in the society
Answer: C
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Who is an itinerant worker?
A. A salary earner who resident in a particular state
B. An individual who is fully employed in a company
C. An individual who seek employment
D. An individual who works in more than one place in Nigeria and earn daily wages
Answer: D
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What is a place of residence?
A. Is a place where every individual lives
B. Is that which is available for domestic use of an individual in Nigeria on the first day in a relevant tax year
C. The place where animal resides for tourism
D. Is that which is available for industrial use only in Nigeria on the first day in a relevant tax year
Answer: B
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