Gce Model Questions Vol1 2019 Government Question 34
Practice objective / multiple choice question 34 from the 2019 Gce Model Questions Vol1 Government examination.
The government's total tax revenue is ₦800 million, consisting of income tax and value‑added tax (VAT). Income tax currently accounts for \(60\%\) of the revenue and VAT for the remaining \(40\%\). The government decides to increase VAT's share to \(45\%\) of total revenue by shifting revenue from income tax, keeping total revenue unchanged. What is the new amount collected from income tax (in millions of naira)?
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About This Question
This is Gce Model Questions Vol1 2019 Government Question 34. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Government examination.
Difficulty level: Easy .
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