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Use the information to answer the following question

EXPECTED REVENUE
Items Amount ($m)
Rents and royalties 75.00
Company income tax 150.00
Custom and excise duties 300.20
personal income tax 80.00
Fees and fines 60.00
value added tax 100.00

What is the total revenue from indirect tax

A.

$686.0 m

B.

$400.20 m

C.

$135.80 m

D.

$100.00 m

Correct answer is B

Indirect tax is a tax levied on goods and services rather than on income or profits. Thus we have;

Indirect tax = customs and excise duties + value-added tax
300.20 + 100.00 = 400.20



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