1.What is called the tax that is levied on retail price of merchandise collected by retailer ? 

A. Sales Tax
B. General Tax
C. Local Tax
D. Gross Tax

2. Which kind of Tax is Federal subject ? 

A. Excise Tax
B. Property Tax
C. Zakat
D. General Sales Tax

3. Government of Pakistan has refused to accept IMF conditions for bailout package.Which was the toughest condition that Pakistan refused to accept? 

A. Demand to increase General Sales Tax to 18 percent.
B. increase in interest rate more than 1 percent.
C. To make SBP, OGRA and NEPRA as independent.
D. crackdown against tax evaders and slash line losses of the electricity.
E. All of the above

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