tax
noun [ C or U ]
TAX, FINANCE uk/tæks/ usplural taxesan amount paid to the government based on a person's income, a company’s profits, the value of goods and services, etc, or this money considered together:
Offshore trading companies are liable to pay tax at a rate of 5%.
avoid/evade/escape tax Huge companies have the money to pay lawyers who advise them on ways to avoid tax.
a tax on sth The law states that foreign businesses must pay taxes on business conducted in the US.
increase/put up/raise taxes Many of the opposition's proposals will be very difficult to achieve without raising taxes.
introduce/impose/levy a tax (on sth) The city has levied a tax of €1,000 on any SUVs registered to city-center addresses.
abolish/cut/reduce a tax
lift/remove a tax
tax cuts/increases/rises The government must tighten its budget next year to offset poorly timed tax cuts.
If you do not make the tax payment by February 28, an additional 5% surcharge is imposed.
after/before tax The bank's bad debt provision forced profits before tax down to €152.7m.
exclusive/inclusive of tax(es) The hotel failed to provide room rates inclusive of taxes.
high/low tax(es) The area has very low property taxes.
basic-rate/higher-rate tax
a tax accountant/adviser/consultant
a tax authority/agency/office
See also
ad valorem
after-tax
back tax
capital gains tax
capital tax
consumption tax
corporation tax
council tax
death tax
deferred tax
degressive tax
direct tax
discriminatory tax
EBIT
estate tax
excise tax
expenditure tax
federal tax
flat tax
gift tax
goods and services tax
graduated tax
head tax
hypothecated taxes
income tax
indirect tax
inheritance tax
input tax
local tax
luxury tax
output tax
payroll tax
personal income tax
pre-tax
progressive tax
property tax
proportional tax
purchase tax
real estate tax
regressive tax
road tax
sales tax
sin tax
social security tax
specific tax
state tax
stealth tax
supertax
surtax
transaction tax
turnover tax
unitary tax
value-added tax
wealth tax
windfall tax
withholding tax
tax
verb [ T ]
TAX, FINANCE uk/tæks/ usto make people or businesses pay an amount of money to the government from the money they earn, or when they buy goods or services:
The state does not tax food or clothing.
tax sth as sth The profits from these investments are taxed as ordinary income.
tax sth at (a rate of) sth Earnings above the current threshold are taxed at 50%.
tax sb on sth Homeowners who sell land for development are taxed on the profit.
tax sb/sth heavily/lightly The government may tax housing more heavily.
Non-electrical machines are lightly taxed.