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Economic Glossary

    Indirect taxation

Taxes that do not come straight out of a person's pay packet or ASSETS, or out of company PROFIT. For example, a CONSUMPTION tax, such as VALUE-ADDED tax (see EXPENDITURE TAX). Contrast with DIRECT TAXATION, such as INCOME TAX. Indirect taxation has become increasingly popular with politicians because it may be less noticeable to people paying it than income tax and is harder to avoid paying


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Banker's Algo Daily Dose

Word of the day

Equivocate(v)

Meaning:

to use ambiguous or unclear expressions, usually to avoid commitment or in order to mislead; prevaricate or hedge

Synonyms: dodge, double-talk, elude, escape, eschew, evade, falsify, fence

Antonyms: face, meet, speak on

Apti Question of The day

Question

Sanjeev started a business by investing Rs. 36000. After 3 months Rajiv joined him by investing Rs. 36000. Out of annual profit of Rs. 37100, find the share of each?

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