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Meaning of Direct and Indirect Tax.
Member rating: No Rating | Words: | Submitted: Thu Jul 11 2002
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By Abdullah Hasan Contents Meaning of direct and indirect tax. Page 1 Why taxes are levied? Page 2 Main types of tax levied in the U.K. Page 3-4 Direct Tax- source table and bar graph. Page 5-6 Indirect Tax- source table and bar graph. Page 7-8 What has happened to the amounts Page 9-10 Collected as Direct Tax and Indirect Tax? How has the change affected people who pay taxes? Pages 11 Conclusion. Page 12 Reference. Page 13 WHAT IS DIRECT AND INDIRECT TAX? Direct tax: These are taxes that are collected by the Department of Inland Revenue. A direct tax is one that is deducted (taken out) from your salary or wages e.g. income tax. Indirect tax: These are collected by the Customs and Excise Department. These taxes fall mainly on expenditures, that is, they are paid when money is spent on goods and services. They are known as indirect tax because it is possible for the person who pays the tax to pass the burden of...
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