Post Utme Ksu 2024 Economics Question 23

Practice objective / multiple choice question 23 from the 2024 Post Utme Ksu Economics examination.

Post Utme Ksu 2024 Economics Objective / Multiple Choice
Question 23 POST_UTME_KSU • 2024 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy to increase revenue. The policy includes a 10% increase in income tax and a 5% increase in value-added tax. If the current income tax rate is 20% and the current value-added tax rate is 15%, what will be the new tax rates?

Answer Options

Correct Answer A. 22% income tax and 16% value-added tax
B. 21% income tax and 15% value-added tax
C. 20% income tax and 14% value-added tax
D. 19% income tax and 13% value-added tax
Correct Answer
A
Correct Option:
22% income tax and 16% value-added tax

About This Question

This is Post Utme Ksu 2024 Economics Question 23. It is one of the objective questions from the 2024 Post Utme Ksu Economics examination.

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