Question

Differtiate between Direct and indirect taxes with examples ​

Answer 1

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Direct taxes __ a tax, such as income tax, which is levied on the income or profits of the person who pays it, rather than on goods or services.government levy on the income, property, or wealth of people or companies. A direct tax is borne entirely by the entity that pays it, and cannot be passed on to another entity. Examples include corporation tax, income tax, and social security contributions.
Indirect taxes__tax levied on goods and services. Customs duties levied on imports, excise duties on production, sales tax or value added tax (VAT) at some stage in production-distribution process, are examples of indirect taxes because they are not levied directly on the income of the consumer or earner rather than on income or profits.

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