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Can you tell us about Income Tax and Sales (Value Added)Tax from your point of view?

Tax Accounting Sales Management Sales
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Question ajoutée par Mohammad Sulaiman Abdelfattah Akhraisat , Delegated Tax Auditor , Ministry Of Finance - Jordan
Date de publication: 2015/06/23
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Hamzath Hameed
par Hamzath Hameed , Finance Manager , BlueLake Insurance Brokers

Income tax is a Direct Tax and VAT is an indirect tax

Income tax is tax on taxable income 

VAT is , tax on consumption 

Archana Radhakrishnan
par Archana Radhakrishnan , Admin , Shiny Knitwear Private Limited

Income Tax is a direct tax in which the income of a person has to be assessed and it cannot be shifted to other persons.  Whereas VAT is an indirect tax in which tax is based on the value added to the goods and it can be shifted to other persons. 

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