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Say that Thailand has a workforce of 35,709,487 people, each of whom earns an average salary of (equivalent USD) $8,630 annually. If the Thai government wants to raise $70 billion in tax revenue, approximately where should it set the income tax rate?

Verified Answer :

W0lf93

First we have to multiply the number of working people by their average annual salary: 35,709,487 $8630 = $308,172,872,810. Then we have to calculate which percent of that sum represents $70,000,000,000. r = ( 70,000,000,000 / 308,172,872,810 ) 100 = 22.7%. Answer; The income tax rate should be approximately 22.7%.

Answer:

c

Step-by-step explanation:The answer is c which is 23%

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