Which of the following best describes Tax Expenditure?
A. It the expenditure incurred by the government during collection of tax
B. It is the revenue forgone by the government on account of exemptions on income and corporate tax
C. It is the revenue forgone on account of exemptions on indirect taxes
D. It is the expenditure made by the government from the income accrued through taxes
Answer:B
Which of the following best describes Tax Expenditure?
A. It the expenditure incurred by the government during collection of tax B. It is the revenue forgone by the government on account of exemptions on income and corporate tax C. It is the revenue forgone on account of exemptions on indirect taxes D. It is the expenditure made by the government from the income accrued through taxes