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Tuesday, 10 November 2026
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Taxes imposed on locally made goods are known as

Taxes imposed on locally made goods are known as
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Ad valorem duties
  • B Excise duties
  • C Import duties
  • D Export drawback
Correct Answer: Option B
Explanation:
Excise duties are taxes imposed on certain goods manufactured or produced within a country. They differ from import duties, which are taxes imposed on goods brought into a country from abroad.

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