Akademik

indirect tax

indirect tax indirect tax ➔ tax¹

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indirect tax UK US noun [C]

► TAX a tax on goods or services that are bought, rather than on income: »They have created a type of underground economy in order to avoid paying indirect taxes.
»Sales Tax and Value Added Tax are examples of indirect taxes.

→ Compare DIRECT TAX(Cf. ↑direct tax)

→ See Note TAX(Cf. ↑tax)

indirect taxation noun [U]

► »To compensate for the increase in indirect taxation, personal income tax has been cut.

Financial and business terms. 2012.