WAEC SSCE - Commerce - 2017 (Objective)

The duty payable on goods produced locally iis

export duty

excise duty

import duty

advalorem duty

Antwortdetails

The duty payable on goods produced locally is usually referred to as an "excise duty". Excise duty is a type of tax that is levied on certain goods that are produced or manufactured within a country. The purpose of this tax is to generate revenue for the government and to regulate the production and consumption of certain goods, such as alcohol, tobacco, and gasoline. The amount of excise duty that is payable on a particular good will depend on several factors, such as the type of product, its price, and the specific laws and regulations in place in the country where it is produced. In simple terms, excise duty is a tax on locally made goods, and it helps the government to earn money and regulate the production and use of certain items.






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