Taxes are generally classified as:
A)Direct and indirect
B)Stable and unstable
C)Static and dynamic
D)High and low
E)Import and export

Question

Quizplus · Accepted Answer

Taxes are primarily classified into two categories: direct and indirect. Direct taxes are paid directly to the government by the individual or organization on whom it is imposed (e.g., income tax, property tax). Indirect taxes are collected by an intermediary (like a retail store) from the person who bears the ultimate economic burden of the tax (e.g., sales tax, VAT).

Taxes Are Generally Classified As