Constitution: "The objects of direct taxes
are well understood: they are but few: what are they?
2 billion from direct taxes
(taxes on income and profits).
Bulgaria, which has the lowest personal and corporate income tax in the EU at 10%, may change the levels of direct taxes
after a referendum in 2013, the bill of the finance ministry suggests.
We can deduce therefore that the taxes for which a uniform rate is required--duties, excises, and imposts--cannot be direct taxes
, including income and corporate taxes, account for about 70% of overall national and local tax revenues.
Increase in industrial sector will increase indirect taxes through excise duties, sales tax on domestic products and surcharges and direct taxes
through corporate income tax.
The ability to pay principle is being ignored by our budget maker as direct taxes
account for only 15 per cent of overall government revenue.
Following are the major highlights/achievements made by the Central Board of Direct Taxes
(CBDT), Department of Revenue, Ministry of Finance over a period of time especially during the last one year :
The two-day conference is being organised by the Central Board of Direct Taxes
(CBDT) at Vigyan Bhawan here.
189 billion were collected in terms of Direct Taxes
, which registered an increase of 27.
Bulgaria, which has the lowest personal and corporate income tax in the EU at 10%, should change the levels of direct taxes
only after a referendum, Finance Minister Simeon Djankov has suggested.
The target of direct taxes
for 2010-11 has been set at Rs 657 billion, while the amount had been set at Rs 565 billion in the outgoing fiscal year.