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Define the term tax evasion

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Reference no: EM131091200

1. Define the term "tax evasion"

2. List TWO of the three main tax bases used in developed countries

3. BH purchased 250 items of a product from a foreign entity and imported them into Country X. On import, the products were subject to an excise duty of $8 per item and standard rate VAT on cost including the excise duty.BH purchased the items for $45 each and after importing them sold all of the items for $65 each plus VAT at standard rate.How much is due to be paid by BH to the tax authoritiesin totalfor these transactions?

A. $450

B. $2,450

C. $2,750

D. $3,988

Reference no: EM131091200

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