tax provision
noun [ C or U ]
ukus ACCOUNTING, TAX
in a company's accounts, an amount of money that is kept for future tax payments :
What tax provision do we need to make for transferring ownership of the company?
LAW, TAX
part of a law that relates to payment of taxes on the activities covered by the law:
The Republicans succeeded in adding to the bill $10 million worth of business-friendly tax provisions.
The Senate narrowly failed to pass a similar tax provision.