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Government Grade 8

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  • What do we call the tax that businesses pay?
    Company tax
  • Who is the current minister of finance of South Africa?
    Enoch Godongwana
  • Name 3 indirect taxes.
    Value added tax (VAT), Fuel tax (fuel levy), Import tax (customs duty)
  • What do we call the tax that individuals pay on their salaries.
    Income tax
  • Can a direct tax be avoided?
    No
  • What is the National budget?
    The budget of the government.
  • Do all individuals pay the same amount of tax? Why/Why not?
    No, the higher your income the more tax you will pay.
  • I which month does the minister of finance present the national budget to parliament?
    February
  • Can an indirect tax be avoided?
    Yes
  • What is a direct tax?
    A tax imposed on an individual and paid directly to the government.
  • What is expenditure
    Money that is spent.
  • Do only individuals pay direct taxes?
    No, businesses also pay direct taxes.
  • What is revenue?
    Money received as income
  • What is an indirect tax?
    A tax on a transaction and not a person.
  • From which other sources, except taxes, can government get income?
    State-owned enterprises and other service fees
  • When do you have a surplus?
    When you have money left over after you have paid all your expenses.
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