Podcast
Questions and Answers
What is the key difference between tax avoidance and tax evasion?
What is the key difference between tax avoidance and tax evasion?
- The amount of tax involved
- The involvement of tax authorities
- Intent of the taxpayer (correct)
- The type of taxes evaded
Which of the following best describes tax evasion?
Which of the following best describes tax evasion?
- A tax deduction claimed by mistake
- A legal method to minimize tax liability
- An unintentional error in tax calculation
- A deliberate attempt to avoid paying taxes through illegal means (correct)
When it comes to tax evasion, what is the role of the taxpayer's intent?
When it comes to tax evasion, what is the role of the taxpayer's intent?
- Intent is irrelevant
- Intent must be deliberate and in bad faith (correct)
- Intent must be accidental
- Intent must be related to legal loopholes
What is the main characteristic of tax avoidance?
What is the main characteristic of tax avoidance?
In the context of taxation, what term describes a course of action that is unlawful and deliberate?
In the context of taxation, what term describes a course of action that is unlawful and deliberate?
If a taxpayer avoids paying taxes by exploiting legal loopholes, this is known as:
If a taxpayer avoids paying taxes by exploiting legal loopholes, this is known as:
Which branch of government has the power to levy taxes?
Which branch of government has the power to levy taxes?
What is the difference between tax avoidance and tax evasion?
What is the difference between tax avoidance and tax evasion?
Who has the authority to set tariff rates on imported goods?
Who has the authority to set tariff rates on imported goods?
What type of tax is imposed on every adult without regard to income or resources?
What type of tax is imposed on every adult without regard to income or resources?
Which branch of government cannot delegate the power to tax?
Which branch of government cannot delegate the power to tax?
For what purpose can taxes be imposed according to the text?
For what purpose can taxes be imposed according to the text?
What is the key difference between Tax Avoidance and Tax Evasion?
What is the key difference between Tax Avoidance and Tax Evasion?
What penalty can someone face if found guilty of Tax Evasion?
What penalty can someone face if found guilty of Tax Evasion?
Which of the following is NOT a factor that contributes to Tax Evasion as mentioned in the text?
Which of the following is NOT a factor that contributes to Tax Evasion as mentioned in the text?
What act may the president perform to grant forgiveness for certain offenses like Tax Evasion?
What act may the president perform to grant forgiveness for certain offenses like Tax Evasion?
Which of the following is a possible reform suggested to encourage movement of MSMEs as mentioned in the text?
Which of the following is a possible reform suggested to encourage movement of MSMEs as mentioned in the text?
Which range of employees does a 'Micro' level MSME typically have based on the information provided?
Which range of employees does a 'Micro' level MSME typically have based on the information provided?
