Indirect Taxes
/ɪnˈdɪrɛkt ˈtæksɪz/
Definitions
- (n.) Taxes levied on goods and services rather than on income or profits, often included in the price of products.
Value-added tax is a common form of indirect tax charged on goods and services.
Forms
- indirect tax
Related terms
See also
Commentary
Indirect taxes are typically passed on to consumers in the form of higher prices, unlike direct taxes imposed directly on individuals or entities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.