How much revenue was realised from (i) direct taxes: (ii) indirect taxes?

Economics
How much revenue was realised from (i) direct taxes: (ii) indirect taxes?

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Answer

420 JS millions

(a)(i) Direct taxes

Direct taxes are levied directly on income or profits: company tax and workers' income tax.

Step 1: Formula for total direct taxes.
Total direct taxes = company tax + workers' income tax

Step 2: Substitute the given values (in JS millions).
Totaldirecttaxes=240+180Total direct taxes = 240 + 180

Step 3: Simplify.
240+180=420240 + 180 = 420

Revenue from direct taxes is 420\mathbf{420} JS millions.

420 JS millions

(a)(ii) Indirect taxes

Indirect taxes are levied on goods and services: taxes on exports, value added tax, and import duties.

Step 1: Formula for total indirect taxes.
Total indirect taxes = taxes on exports + value added tax + import duties

Step 2: Substitute the given values (in JS millions).
Totalindirecttaxes=80+150+40Total indirect taxes = 80 + 150 + 40

Step 3: Simplify step by step.
80+150=23080 + 150 = 230
230+40=270230 + 40 = 270

Revenue from indirect taxes is 270\mathbf{270} JS millions.

270 JS millions

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Quick Answer

(a)(i) Direct taxes Direct taxes are levied directly on income or profits: company tax and workers' income tax.

How much revenue was realised from (i) direct taxes: (ii) indirect taxes?
Economics

This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.

ScanSolve AI Answer
(a)(i) Direct taxes Direct taxes are levied directly on income or profits: company tax and workers' income tax. Step 1: Formula for total direct taxes. Total direct taxes = company tax + workers' income tax Step 2: Substitute the given values (in JS millions). Total direct taxes = 240 + 180 Step 3: Simplify. 240 + 180 = 420 Revenue from direct taxes is 420 JS millions. 420 JS millions (a)(ii) Indirect taxes Indirect taxes are levied on goods and services: taxes on exports, value added tax, and import duties. Step 1: Formula for total indirect taxes. Total indirect taxes = taxes on exports + value added tax + import duties Step 2: Substitute the given values (in JS millions). Total indirect taxes = 80 + 150 + 40 Step 3: Simplify step by step. 80 + 150 = 230 230 + 40 = 270 Revenue from indirect taxes is 270 JS millions. 270 JS millions