Indirect Tax

0.0(0)
linked notesView linked note
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/7

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

8 Terms

1
New cards

What is an indirect tax?

A tax imposed by the government that increases the supply costs faced by producers, ultimately leading to higher prices for consumers.

2
New cards

What is a specific tax?

A set tax per unit.

3
New cards

What is an ad valorem tax?

A percentage tax, such as 20%.

4
New cards

What is the main UK indirect tax?

VAT (Value Added Tax).

5
New cards

What is the standard rate of VAT in the UK?

20%.

6
New cards

What is the landfill tax per tonne for waste in the UK?

ÂŁ80 per tonne.

7
New cards

What is the fuel duty in the UK?

58p per litre.

8
New cards

What is the alcohol duty per unit in the UK?

41.5p per unit.