Direct Tax

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Direct Tax

A charge levied by the government upon property, which is determined by its financial worth.

A direct tax is usually a property tax or ad valorem tax, as opposed to an indirect tax imposed upon some right or privilege, such as a franchise tax.

References in periodicals archive ?
The CBDT, which has six members apart from the chairman, is responsible for framing policy and administrative issues related to direct taxes and the Income Tax department.
Direct taxes will reduce inflation, shrink poverty, balance the economy and ensure national development.
But after adding on cash benefits and deducting direct taxes, this ratio falls to five, the IFS said.
The Federal Board of Revenue (FBR) received just Rs74.3 billion or 7.6% of total direct taxes with its own efforts from July through March of this fiscal year, showed official statistics.
The FBR collects both direct and indirect taxes while only 0.57% of people pay direct taxes. Pakistan's 63% GDP depends on the indirect taxes while 33% depends on the direct tax collection but to increase the growth of economy the government must increase the amount of direct taxes.
Revenue from direct taxes reached e1/41.72 bln, marking an increase of 2.34% from 2017.
This is the reason direct taxation is currently taking precedence over the indirect taxation in many developed countries in the world where direct taxes form the major part of the tax revenues.
The share of direct taxes in the total provincial tax receipts is only 7.4 percent as per the 2018-19 budget estimates.
Direct taxes contribution was 40pc in total tax receipts of the Federal Bureau of Revenue (FBR) during 2016-17, slightly higher than the last year to stand at Rs1.343bn reflecting a growth of 13pc over the corresponding period last year.
ISLAMABAD -- All Pakistan Muslim League (APML) Secretary General Dr Mohammad Amjad about the upcoming annual budget has suggested the government to stop its policies of imposing more and more direct taxes that will overburden the poor masses.
THE government is likely to meet its tax collection target for the first time in five years as indirect tax collection during the current fiscal is likely to exceed the Budget estimate ( BE) by about ` 40,000 crore, which will cover up the shortfall in direct taxes, revenue secretary Hasmukh Adhia said here on Wednesday.