Taxes may be classified in various types on different basis, such as the form, nature, aim and method of taxation. The most important classification are: 1. Direct and Indirect taxes. 2. Specific and Ad-valorem taxes. 3. Proportional, Progressive, Regressive and Degressive taxes. 1. Direct and Indirect Taxes: Taxes are of two kinds- Direct and Indirect. […]
Tax Types: Types of Taxes (With Advantages and Limitations)
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