{"id":313685,"date":"2024-10-18T18:32:33","date_gmt":"2024-10-18T13:02:33","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=313685"},"modified":"2024-10-18T18:32:33","modified_gmt":"2024-10-18T13:02:33","slug":"direct-tax-share-up-at-57-percent-of-total-tax-revenue-highest-in-14-years","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/direct-tax-share-up-at-57-percent-of-total-tax-revenue-highest-in-14-years\/","title":{"rendered":"Direct tax share up at 57 percent of total tax revenue, highest in 14 years"},"content":{"rendered":"<p><strong>News:<\/strong> <em>The contribution of direct taxes to total tax revenue jumped to 56.72% in 2023-24, the highest in 14 years. The surge was even more stark in the direct tax to GDP ratio which jumped to over a two decade high of 6.64%.<\/em><\/p>\n<p>1. Direct Tax: It is a tax that is levied directly on individuals and entities based on their income or wealth.<\/p>\n<p>2. There are various types of direct taxes like income tax, corporate tax, property tax, wealth tax etc.<\/p>\n<p>3. While indirect taxes are the taxes which are imposed on the goods and services rather than on income or profits.<\/p>\n<p>4. Tax-to-GDP ratio: It is a key economic indicator to gauge a nation&#8217;s tax revenue relative to the size of its economy as measured by gross domestic product.<\/p>\n<p>5. It has been observed that developed nations typically have a higher tax-to-GDP ratio than developing nations.<\/p>\n<p>6. Tax Buoyancy: It refers to the responsiveness of tax revenue to changes in economic activities, particularly changes in the GDP of a country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: The contribution of direct taxes to total tax revenue jumped to 56.72% in 2023-24, the highest in 14 years. The surge was even more stark in the direct tax to GDP ratio which jumped to over a two decade high of 6.64%. 1. Direct Tax: It is a tax that is levied directly on&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/direct-tax-share-up-at-57-percent-of-total-tax-revenue-highest-in-14-years\/\">Continue reading <span class=\"screen-reader-text\">Direct tax share up at 57 percent of total tax revenue, highest in 14 years<\/span><\/a><\/p>\n","protected":false},"author":10384,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-313685","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/313685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10384"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=313685"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/313685\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=313685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=313685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=313685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}