What is direct taxes?
direct taxes definition and meaning on Finance terms:
Current taxes on income, wealth, etc. covering all compulsory, unrequited payments, in cash or in kind, levied periodically by general government and by the rest of the world on the income and wealth of institutional units, and some periodic taxes which are assessed on neither income nor wealth (ESA 2010 4. 77-4. 82). These taxes are not consolidated in government finance statistics, so any taxes paid by one part of government to another are included as both revenue and expenditure. For example, some non-profit institutions, or extra-budgetary funds, classified in the government sector may be liable for tax on their interest income. <