What tax should a lessor of real property and personal property (cars) pay?Select one:a.Value-added taxb.Excise taxc.Percentage taxd.Common carrier's tax
Question
What tax should a lessor of real property and personal property (cars) pay?Select one:a.Value-added taxb.Excise taxc.Percentage taxd.Common carrier's tax
Solution
The tax that a lessor of real property and personal property (cars) should pay is a. Value-added tax. This is because the lessor is providing a service (the rental of property or vehicles) which is subject to VAT. This tax is applied to the value added to the goods or services by the business, and is typically passed on to the consumer.
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