Question

What is meant by Public Finance? Explain direct and indirect taxes, with examples.

Answer 1

An indirect tax is a tax that is paid through another party and then by the taxpayer. ... It's easier to explain indirect taxes by comparing them to direct taxes and giving you some examples. Indirect taxes are placed on goods and services which raise the price so that the consumer pays more for the item.

Answer 2

Indirect taxes can be defined as taxation on an individual or entity, which is ultimately paid for by another person. ... Admission fees to a national park is another clear example of directtaxation. Some indirect taxes are also referred to as consumption taxes, such as a value-added tax (VAT
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