This means after indirect taxes
the richest fifth had post-tax household incomes that were more than seven times those of the poorest fifth, the ONS added.
Around 29% of the typical gross pensioner household income of pounds 20,130 is paid out in direct and indirect taxes
, equating to pounds 5,864 a year, insurer MetLife found.
The Union Finance Minister, Shri Arun Jaitley said that the revenue targets in the case of indirect taxes
for the current financial year 2014-15 are challenging one but are very much achievable.
On the issue of compensation to states for revenue loss because of subsuming of all indirect taxes
in GST, the finance ministry was to seek legal opinion on how it could be accommodated in the Constitution Amendment Bill that it wants to table in the ongoing session of Parliament.
Particularly the rise of indirect taxes
- taxes on transactions rather than on income or property - reduces the attractiveness of every taxed transaction, and progressively reduces the volume of transactions.
Table 1 Buoyancies of the Taxes of Developing Countries Countries Total Taxes Direct Taxes Indirect Taxes
It said Nevada's economy has outpaced the nation's growth by 2 percent over the past 30 years, and direct and indirect taxes
from casinos account for more than 40 percent of the state's total revenues.
Previous calculations of incentives to work have often been partial in that they have ignored employer contributions and indirect taxes
BNA International (BNAI; London) has begun the publication of Tax Planning International indirect taxes
, a new monthly online/print journal that provides "practical guidance and commentary about the latest indirect tax legislation around the world," BNAI said.
The government is seeking to raise indirect taxes
and reduce the burden of direct taxes.
Surely the time has come to reduce the regulatory burden, assess the increase in indirect taxes
and take steps to reduce it.
These circumstances demand that government should facilitate the growth of trade and industry by providing incentives, reducing indirect taxes
and abolishing unnecessary taxes like carbon tax on petroleum products which are regressive in nature.