Giving reasons classify the following into direct and indirect tax(i)

1.	Giving reasons classify the following into direct and indirect tax(i) Wealth tax(ii) Value added tax(iii) Corporation tax
Answer» (i) It is a direct tax because its impact (liability to pay) and incidence (actual burden) fall on the same person. Its burden cannot be shifted . (ii) It is an indirect tax because its impact (liability to pay) and incidence ( actual burden) lie on different persons. (iii) It is a direct tax because its impact and incidence fall on the same person (company). Its burden cannot be shifted.

Giving reasons classify the following into direct and indirect tax(i) Wealth tax(ii) Value added tax(iii) Corporation tax

Answer»

(i) It is a direct tax because its impact (liability to pay) and incidence (actual burden) fall on the same person. Its burden cannot be shifted .

(ii) It is an indirect tax because its impact (liability to pay) and incidence ( actual burden) lie on different persons.

(iii) It is a direct tax because its impact and incidence fall on the same person (company). Its burden cannot be shifted.

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Giving reasons classify the following into direct and indirect tax(i) Wealth tax(ii) Value added tax(iii) Corporation tax

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