About Lesson
1. Specific Tax: levied on a good at a rate fixed in money terms per unit quantity, regardless of their price.
2. Ad valorem: Value added tax (VAT) is levied on the value added of a business.
3. Lump Sum Tax: is levied on a particular activity, regardless of its extent or the income of the taxpayers. For example, UK Television licenses.
4. Expenditure Tax: would be levied on income less net savings.
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