There has been some legitimate historical confusion over the definition of direct taxes
Higher income earners pay greater direct taxes
and therefore progressive, but indirect taxes are the same irrespective of the income level of the consumer and therefore regressive.
Bulgaria's center-right government announced last month it is preparing legislative amendments, which will make it possible for the government to change direct taxes
levied on physical and legal persons only if the nation votes yes in a referendum.
If the cuts were half the size and direct taxes
were raised to fill the gap, then output growth would be 0.
Presently, an amount of Rs 50 billion is in litigation on the side of direct taxes
For better or worse, both proponents and opponents of the Constitution called the power to lay direct taxes
WTO rules treat direct taxes
(income taxes) differently from indirect taxes (such as value-added taxes).
The government is seeking to raise indirect taxes and reduce the burden of direct taxes
Officials are well aware that the complex tax codes, which rely not on direct taxes
on personal wealth but regressive and indirect taxes, heap the burden on the shoulders of the working poor and middle class.
UK's Inland Revenue last year released its Consultative Document on General Anti-Avoidance Rule for Direct Taxes
, requesting comments on whether the United Kingdom should adopt a GAAR and, if so, what form the rule should take.
So growth in imports not only increases growth in indirect taxes but also increases growth in direct taxes
Clearly, both indirect and direct taxes
affect the flow of capital in an integrated EC.
In so far as direct taxes
are concerned the widening will be cosmetic as.
Other areas covered include, among others, the European Commission's Green Paper on Financial Services, EU tax harmonisation of direct taxes
, the implementation of the Prospectus Directive, "liquid" shares, asset backed securities, and the impact of the Capital Requirements Directive.
Jaitley also hoped that revenue targets fixed for direct taxes
, comprising income and corporate and wealth taxes, would not only be achieved but surpassed in the current fiscal.