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Question
______ are those taxes which are paid by the same person on whom they have been imposed.
Options
Proportional tax
Progressive taxes
Direct taxes
Indirect taxes
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Solution
Direct taxes are those taxes which are paid by the same person on whom they have been imposed.
Explanation:
- Direct taxes are those taxes which are paid by the same person on whom they have been imposed.
- Examples include income tax, property tax, and corporate tax, where the individual or entity directly pays the tax to the government without it being passed on to others.
RELATED QUESTIONS
The essential feature of a tax.
Match the following and select the correct option:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Regressive |
| (ii) | Taxes imposed on goods and services | B. | Progressive |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Direct taxes |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Indirect taxes |
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Classify the following type of tax into direct and indirect taxes:
Income tax
Give an example of Indirect tax.
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