Question

10) What are the Taxes /How are they classified?​

Answer 1

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The taxes have been variously classified. Taxes can be direct or indirect, they can be progressive, proportional or regressive, and indirect taxes can be specific or ad-valorem.

In general, taxes fall into one of four primary categories. ... Income taxes are imposed on the income earned by a person or firm; property taxes are imposed on assets; sales taxes are imposed on the value of goods sold; and excise taxes are imposed on specific goods or services.

Answer 2

Answer:

Taxes are the amount of money paid to the government which is based on your income and cost of good or services bought..

Explanation:

They are classified into 2:

Direct tax- The tax paid directly.Eg- Income tax

Indirect tax- The tax paid indirectly.Eg- Value Added Tax