Which one of the following is a tax on the profit made by a private limited company in the UK?
Select one answer - Edexcel - GCSE Business - Question 14 - 2017 - Paper 1
Question 14
Which one of the following is a tax on the profit made by a private limited company in the UK?
Select one answer.
A Value Added Tax
B Distribution Tax
C Income ... show full transcript
Worked Solution & Example Answer:Which one of the following is a tax on the profit made by a private limited company in the UK?
Select one answer - Edexcel - GCSE Business - Question 14 - 2017 - Paper 1
Step 1
Select one answer.
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Answer
The correct answer is D. Corporation Tax. This tax is specifically imposed on the profits of private limited companies in the UK, whereas the other options either do not pertain to company profits or are types of tax that address different financial activities.
