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PUBLIC REVENUE - Coggle Diagram

- - - - Income Tax,
      - Wealth Tax,
      - Corporate Tax
      - Capital Gains Tax
      - Gift Tax,
      - Estate Duty
      - MERITS of Direct Tax
        
        ECONOMY
        
        EQUITY
        
        ELASTICITY
        
        Easy to UNDERSTAND
        
        REDUCTION in INEQUALITY
        
        CERTAINITY
      - DEMERITS of Direct Tax
        
        INCONVIENIENCE
        
        UNPOPULAR
        
        POSSIBILITY of EVASION
        
        NOT SUITABLE to UNDERDEVELOPED Countries
        
        Disincentive to Work and Save
    - - Value Added Tax (VAT)
      - Customs and Octroi Duties
      - Excise Duty
      - Professional Tax
      - Municipal Tax
      - Entertainment Tax
      - Merits of INDIRECT TAXES
        
        CONVENIENCE
        
        No POSSIBILITY of EVASION
        
        EQUITY
        
        ELASTIC
        
        WIDER COverage
        
        EASY TO Collect
      - DEMERITS of Indirect Tax
        
        INFLATIONARY
        
        DISCOURAGE SAVINGS
        
        UNCERTAINTY
        
        Regressive Character