Examlex
Which of the following statements is true about biodiversity?
Taxable Income
The portion of income that is subject to tax after all deductions and exemptions have been applied according to tax law.
Tax Liability
The total amount of tax that an individual or entity is legally obligated to pay to tax authorities.
Average Tax Rate
The portion of total taxable income that is paid in taxes, calculated by dividing the total tax amount by the total income.
Average Tax Rate
The ratio of total taxes paid to total taxable income, representing the percentage of income that goes towards taxes.
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