Is corporate tax a direct or an indirect tax
Direct taxes are taxes that are levied on individuals or entities based on their income, profits, or assets. Corporate tax is a direct tax that is imposed on the profits earned by corporations and other business entities. The tax is calculated based on the net income of the corporation, which is the difference between its total revenue and its allowable expenses.
For more information visit this site: https://www.incometax.gov.in
In contrast, indirect taxes are taxes that are levied on goods and services rather than on individuals or entities. Examples of indirect taxes include sales tax, value-added tax (VAT), and excise duty. These taxes are paid by the end consumer, but they are collected and remitted to the government by the businesses that sell the goods or services.
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