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Question
which one is not direct tax?
Income tax
Wealth tax
VAT
All of these
ANSWER : 3
Descrption
<p>Direct taxes are taxes that are directly paid to the government by the taxpayer.</p> <p>These taxes are applied on individuals and organizations directly by the government. E.g. Income tax, Corporation Tax, Wealth Tax, etc.</p> <p> </p> <p>Indirect taxes are those applied on the manufacture or sale of goods and services.</p> <p>These are initially paid to the government by an intermediary, who then adds the amount of tax paid to value of the goods / services and passes on the total amount to the end user. Examples : Sales tax, service tax, excise duty.</p>
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