Question

direct tax : tax on property :: .... : indirect tax correlation

Answer 1

Answer:

Goods and Service Tax

Explanation:

it is a consumption based tax

Answer 2

Answer:

Direct taxes and indirect taxes are two types of taxes collected by the government. Direct taxes are levied on individuals or entities based on their income, while indirect taxes are applied to the purchase of goods and services.

Explanation:

The correlation between direct tax and property tax is that property tax is a type of direct tax. Here are some possible correlations between indirect taxes and other types of taxes:

1. Value-added tax (VAT) : sales tax - VAT is an indirect tax that is added to the value of a product or service at each stage of production and distribution, while sales tax is a percentage added to the final sale price of a product or service.
2. Excise tax : luxury tax - Excise tax is a type of indirect tax that is levied on the production or sale of certain goods, while luxury tax is a direct tax that is applied to goods or services that are considered to be luxurious or non-essential.
3. Customs duty : import tax - Customs duty is a type of indirect tax that is levied on goods imported into a country, while import tax is a tax on the value of imported goods.

Overall, direct taxes are applied directly to individuals or entities, while indirect taxes are applied indirectly through the purchase of goods and services. Both types of taxes are important sources of revenue for governments and play a significant role in funding public services and infrastructure.

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