TAX QUIZ

1. TRUE OR FALSE

A tax on money that people receive from their

earnings. Is VAT.

2. WHAT IS CORPORATIO

N 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 CONTRIBUTIO

N???

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.