Neco Model Questions Vol1 2017 Civic Education Question 15
Practice objective / multiple choice question 15 from the 2017 Neco Model Questions Vol1 Civic Education examination.
A citizen owes a tax of \(\text{₦}150{,}000\). The tax law imposes a late filing penalty of \(2\%\) of the tax due for the first month of delay and \(1\%\) of the tax due for each subsequent month. If the return is filed three months late, what is the total amount (tax plus penalties) the citizen must pay?
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About This Question
This is Neco Model Questions Vol1 2017 Civic Education Question 15. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Civic Education examination.
Difficulty level: Medium .
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