One of the following is not a direct taxQuestion 2Answera.company gain taxb.personal income taxc.clothing taxd.capital gains tax borrowing
Question
One of the following is not a direct taxQuestion 2Answera.company gain taxb.personal income taxc.clothing taxd.capital gains tax borrowing
Solution
The answer is c. clothing tax. This is considered an indirect tax because it is collected by an intermediary (such as a retail store) from the person who bears the ultimate economic burden of the tax (such as the consumer). The other options, company gain tax, personal income tax, and capital gains tax, are all examples of direct taxes, which are paid directly to the government by the person on whom it is imposed.
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