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Question
Classify the following type of tax into direct and indirect taxes:
Entertainment tax
One Line Answer
Solution
Indirect Tax
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Role of State in Economic Development
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Chapter 6: The State and Economic Development - QUESTIONS [Page 167]
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RELATED QUESTIONS
Monetary policy means regulation of money supply by the monetary authority.
Wealth tax is an example of:
Match the following:
| Column I | Column II | ||
| A. | Impact of tax | (i) | Price stability |
| B. | Incidence of tax | (ii) | Simple to calculate |
| C. | Objective of Monetary Policy | (iii) | Ultimate burden of tax |
| D. | Proportional tax | (iv) | Original imposition of tax |
Define Indirect tax
What is meant by shifting of tax burden?
To which tax is this shifting of tax burden relevant?
Give an example of Indirect tax.
Give one example of progressive tax.
State two drawbacks of direct taxes.
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
