Business Studies: Taxes
- Created by: AdieOates
- Created on: 27-04-14 12:13
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- Taxes
- Value Added Tax
- A tax on the value of sales of a business.
- Businesses that make more than a certain amount have to register to pay VAT
- Income Tax
- A tax on the income earned by workers and sole traders
- National Insurance contributions
- A tax on the earnings of workers and sole traders linked to state benefits
- Corporation Tax
- A tax paid by limited companies on the profits of the company
- Value Added Tax
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