Question

an example for direct tax is
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Answer 1

Answer:

Direct taxes include tax varieties such as income tax, corporate tax, wealth tax, gift tax, expenditure tax etc. Some examples of indirect taxes are sales tax, excise duty, VAT, service tax, entertainment tax, custom duty etc.

Answer 2

Answer:

An example of a tax is a portion taken out of weekly paychecks and sent to the government. Tax is defined as to make people pay a percentage of money to the government. An example of to tax is to charge citizens self employment tax at the end of the year.

Explanation:

Direct taxes include tax varieties such as income tax, corporate tax, wealth tax, gift tax, expenditure tax etc. Some examples of indirect taxes are sales tax, excise duty, VAT, service tax, entertainment tax, custom duty etc.

Types of Direct Taxes

• Income tax. It is based on one's income.
• Transfer taxes. The most common form of transfer taxes is the estate tax.
• Entitlement tax. This type of direct tax is the reason why people enjoy social programs like Medicare, Medicaid, and Social Security.
• Property tax.
• Capital gains tax.

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