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Indirect Tax

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Indirect Tax
A tax that is shifted to another person or entity. For example, sales taxes are levied on a seller but are paid by buyers; that is, the government expects sellers to pay the sales tax, but they pass the cost on to their customers. An indirect tax differs from a direct tax like a tax on income or assets, which the person or organization on whom they are levied must pay directly. There is disagreement as to whether a corporate tax is a direct tax or indirect tax.

indirect tax
A tax paid by an entity other than the one on which it is levied. For example, a retail sales tax is collected and remitted to the government by a business even though the tax is ultimately paid by the consumers. Compare direct tax.


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However, the global lessons on indirect tax may be more relevant, as several GCC countries continue to ponder introducing value added tax (VAT) as a way of raising additional revenue.
However, the global lessons on indirect tax may be more relevant, as several GCC countries continue to ponder introducing value added tax (VAT) as a way of raising additional revenue.
In recent years, the average global indirect tax rate has hovered in a narrow range between 15% and 16%.
 
 
 
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