What similarities and differences you find on the taxes levied?
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Answer:Taxes are 'levied' when the taxable event has taken place. On the other hand, collection of tax shows that point in time when the liability to pay that tax arises. There is a fine line of difference which must be understood. Excise duty is "levied" when the goods are manufactured.
Explanation:Taxes are 'levied' when the taxable event has taken place. On the other hand, collection of tax shows that point in time when the liability to pay that tax arises. There is a fine line of difference which must be understood. Excise duty is "levied" when the goods are manufactured.
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