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Indirect Tax
(redirected from Indirect taxes)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
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.

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.


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KPMG predicts countries will increasingly turn to indirect taxes, which are those levied on products and services, like a
Organized alphabetically, each chapter covers a single country and addresses the main legal forms, corporate and personal tax, withholding taxes, and indirect taxes, with information presented in tables.
The company expects 15 per cent of its revenue in comprehensive software solutions in indirect taxes from SEZs in Gujarat and Delhi alone, said Dixit.
 
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