Direct Taxation
Direct Taxation
A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Examples include income tax, real property tax, personal property tax, and taxes on assets, all of which are paid by an individual taxpayer directly to the government.
KEY TAKEAWAYS
- A direct tax is paid by an individual or organization to the entity that levied the tax.
- Direct taxes include income taxes, property taxes, and taxes on assets.
- There are also indirect taxes, such as sales taxes, wherein a tax is levied on the seller but paid by the buyer.
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