The primary revenue source for the European Union is ________.
A)direct tax
B)indirect tax
C)value-added tax
D)withholding tax
E)stable tax

Question

Quizplus · Accepted Answer

The European Union relies heavily on value-added tax (VAT) as its primary source of revenue. Other sources include customs duties, contributions from member states, and income from investments. However, VAT contributes to more than half of the total revenue generated by the EU. The rate of VAT varies in the member states, but a portion of it is paid directly to the EU budget.

The Primary Revenue Source for the European Union Is ________