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Question
What are the different types of taxes?
What are the different types of taxes?
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Solution
The correct option is C Both A and B
Direct and Indirect taxes are the different types of taxes.
A direct tax is paid directly by an individual or organization to the imposing entity. Income tax, corporate tax, inheritance tax are some instances of direct taxation.
Indirect taxes are those paid by consumers when they buy goods and services. These include excise and customs duties.
Both A and B
Direct and Indirect taxes are the different types of taxes.
A direct tax is paid directly by an individual or organization to the imposing entity. Income tax, corporate tax, inheritance tax are some instances of direct taxation.
Indirect taxes are those paid by consumers when they buy goods and services. These include excise and customs duties.
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