Question

taxes differ from tariffs because taxes are what?

Answer 1

Answer:

A tax is money demanded by the government for its support for specific services or use of infrastructure. It is levied on income, property, sales and like items or added to the consumer's cost of goods and services. A tariff is a special class of tax.

Answer 2

A tax is an amount charged by the government of the country and it is a compulsory charge which needs to be paid by the taxpayers. A tariff is a tax that is imposed by the government but on the special types of goods, imported and exported goods. It means tax is imposed on all of the goods and services purchased and sold in the domestic market. On the other hand, the tariff is imposed on all of the goods and services purchased and sold in the international market. Therefore, option (D) is the correct option.