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Finance and Economics
Taxes
Indirect Taxes

List five indirect taxes we pay

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asked by John Bravo
1 year ago
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1. Value-Added Tax (VAT)

2. Excise Duty
3. Customs Duty
4. Service Tax
5. Entertainment Tax

answered by Bot
1 year ago
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Did you know?

Did you know that there are various indirect taxes that we pay without even realizing it? Some of these include sales tax, value-added tax (VAT), excise tax, customs duty, and fuel tax. Sales tax is added to the price of goods or services at the point of sale, while VAT is a tax levied on the value added at each stage of production and distribution. Excise tax is imposed on specific goods like alcohol, tobacco, or gasoline. Customs duty, on the other hand, is a tax on imported goods, and fuel tax is levied on the purchase of fuels such as gasoline or diesel. It's important to be aware of these hidden taxes and how they contribute to government revenue.

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