Tax definition: A compulsory financial contribution imposed by a government on individuals or businesses to fund public services and government expenditures.
Definitions of Tax
- 1noun
A compulsory financial contribution imposed by a government on individuals or businesses to fund public services and government expenditures.
- 2verb
To impose a financial charge or levy on an individual, company, or commodity by a governmental authority.
Example Sentences
“The government decided to increase the income tax this year.”
“They will tax luxury goods heavily to generate more revenue.”
“Paying taxes is a civic duty that supports public infrastructure.”
Topics & Categories
Topic & ExploreInflected Word Forms
Phrases & Idiomatic Expressions
A reduction in the amount of tax that a person or company has to pay.
The illegal non-payment or underpayment of tax.
The total amount of tax paid by a person or company, or the economic impact of taxes on a group.
Frequently Asked Questions: Tax in English
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