Country x has progressive taxation of income.the following rates are the tax brackets in country x.which rate would the highest

Question

2 years ago

9

earners in country x pay in taxes?
A. 2 Percent
B.10 Percent
C.20 Percent
D.40 Percent

1 answer:

Readme [11.4K] · Answer 1 · 2023-02-08T11:27:50+03:00

The rate of 40 percent will be used for the highest earners in Country X pay in taxes.

<h3>What is a progressive taxation?</h3>

This method of taxation involves use of higher tax rates for those who earns higher income or more wealth,

Hence, the rate of 40 percent will be used for the highest earners in Country X pay in taxes.

Therefore, the Option D is correct.

Read more about progressive taxation

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