The average tax rate is defined as

Assessment: JAMB UTME - Economics - 1991 Subject: Economics

Question 1 Report

The average tax rate is defined as
Answer Details
The average tax rate is the ratio of the total amount of taxes paid by an individual or a company to their total income. For example, if an individual earns $50,000 and pays $10,000 in taxes, their average tax rate would be 20% ($10,000/$50,000). It represents the overall tax burden on the taxpayer, and is often used to compare tax rates across different income levels and tax jurisdictions.
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