Question

1. What is the difference between income tax and excise duty?

2. You are expected to pay taxes on steel, matches, clocks, cloth, iron; a tax increase
on which of these would affect the prices of other commodities the most and
why?
pls answer this questions ........​

Answer 1

1. Income tax is imposed on a person's income while excise tax is imposed on a Country's produced goods. ... Income tax are directly paid by the those who owe them while excise tax are often added to the price of goods.

Answer 2

Answer:

1) Income tax is imposed on a person's income while excise tax is imposed on a Country's produced goods. ... Income tax are directly paid by the those who owe them while excise tax are often added to the price of goods.

2) Steels are the one that used to expect changes in the commodities because other things are described with the most important solution. It would be affected due to tax rate high and able to solve these taxes that comes from the fixed spend money.