Saturday, April 11, 2009

What are examples of taxes which central government uses to raise income?

This is citizenship school home work, the original question is, 'Identify two taxes which central government uses to raise income'. Please can I have United Kingdom government related answers, thanks. :)


Income tax - a tax on earnings

Capital gains tax - a tax on profits from property dealing

Death duty - a tax on the estate left by people who have died

Vehicle Excise Duty - car tax

Alcohol duty - tax included in the price of alcohol

Fuel duty - tax included in the price of petrol and diesel

Value Added Tax - a purchase tax on most goods, largely paid over to European Commission though much flows back to the UK.

Don't forget National Insurance!

It's not called - tax - but it is in all but name!

VAT - Value added tax, Income Tax, Corporation Tax, Inheritance tax are but a few.

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