Question

Choose the correct alternative regarding tax revenue:
A-Personal income tax, VAT and Corporate income tax are all direct taxes.
B-Personal income tax is currently the largest source of government revenue in
South Africa.
C-Corporate income tax, customs and excise duties and fuel levies are all direct
taxes.
D-VAT is currently charged at 15% in South Africa.​

Answer 1

The correct alternative regarding tax revenue:

B-Personal income tax is currently the largest source of government revenue in South Africa.

Direct Taxes

• it is levied on earnings and activities conducted.
• the burden of tax cannot be shifted in case of direct tax.
• it is paid directly by individual concerned.
• it is paid after the income reaches in the hands of the taxpayer
• Tax collection is difficult.
• instance income tax, wealth tax etc.

Indirect Taxes

• it is levied on product or services.
• the burden of tax shifted for indirect taxes
• It is paid by way of one man or woman however he recovers the same from another person i.e. person who actually bear the tax ultimate consumer.
• it is paid before goods/service reaches the taxpayer.
• Tax collection is exceptionally easier
• Example GST, excise duty custom duty sale tax carrier tax

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