direct tax


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Related to direct tax: indirect tax, income tax

direct tax

a tax paid by the person or organization on which it is levied
References in periodicals archive ?
An apportioned or direct tax is like a requisition from a state with each state having a quota to satisfy, except that the Congress determines the objects and rates of tax and collects the state quota directly from individuals.
India Direct Tax Code: Relief from Double Taxation In a major relief to the tax payers, the DTC reinstates the current well established principle - the provisions of domestic law or Double Taxation Avoidance Agreement (DTAA), whichever is more beneficial to the tax payer should prevail.
1, 1796) (statement of House Ways and Means Chairman William Smith, in discussions that ultimately led to the first direct tax, that "[a]lmost the whole of the present revenue depends upon commerce--on a commerce liable to be deranged by wars in Europe, or at the will of any of the great naval European Powers").
Although federal taxes constitute the major portion of tax revenues, provincial taxes incorporate the only direct tax on agriculture.
The Polish European Commissioner on Budget and Financial Programming justified his overall proposal for the introduction of a EU direct tax with the need experienced by member states to be relieved from the burden of making payments to the EU budget.
3 billion of direct tax increases in an attempt to plug a deficit of similar magnitude, and Davis' proposal is eerily similar.
These are, of course, large assumptions that need to be put in context by examining the actual tax base of a VAT, by considering the VAT as an additional tax and as a substitute tax, and by briefly reviewing the nature of the distinction under the GATT between a direct tax and an indirect tax.
The 'AA-' rating reflects the prevailing health and stability of the local economy, the tax resources that economic activity provides for general revenues of the city, and the modest direct tax supported debt burden on residents.
Bangalore, Apr 9 ( ANI ): Finance Minister Pranab Mukherjee has said India's direct tax base vis-a-vis the country's overall economy has increased to whopping rupees five trillion.
Meanwhile, CBDT chairman Moorthy said India's direct tax collection for 2008- 09 is unlikely to meet the revised target of Rs 3.

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