Definition of tax noun from the Oxford Advanced Learner's Dictionary

  

tax

 noun
noun
BrE BrE//tæks//
 
; NAmE NAmE//tæks//
 
Economy
 
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 [countable, uncountable] money that you have to pay to the government so that it can pay for public services. People pay tax according to their income and businesses pay tax according to their profits. Tax is also often paid on goods and services. to raise/cut taxes tax increases/cuts changes in tax rates to pay over £1 000 in tax profits before/after tax Income tax will be deducted by your employer. tax on something a tax on cigarettes see also corporation tax, council tax, direct tax, indirect tax, inheritance tax, poll tax, road tax, sales tax, stealth tax, value added tax, withholding tax Wordfinderbonus, commission, deduction, earn, overtime, pay, rise, salary, tax, wage Synonymstaxduty customs tariff ratesThese are all words for money that you have to pay to the government.tax money that you have to pay to the government so that it can pay for public services:income tax tax cutsduty a tax that you pay on things that you buy, especially those that you bring into a country:The company has to pay customs duties on all imports. customs tax that is paid when goods are brought in from other countriestariff a tax that is paid on goods coming into or going out of a country, often in order to protect industry from cheap imports:A general tariff was imposed on foreign imports.rates (in Britain) a tax paid by businesses to a local authority for land and buildings that they use, and in the past also paid by anyone who owned a house:Business rates are very high in the city centre.Patterns (a) tax/​duty/​tariff/​rates on something to pay an amount of money in tax/​duty/​customs/​rates to pay (a) tax/​duty/​customs/​tariff/​rates to collect taxes/​duties/​rates to increase/​raise/​reduce taxes/​duty/​tariffs/​rates to cut taxes/​duties/​rates to impose a tax/​duty/​tariff to put a tax/​duty on something CollocationsThe economyManaging the economy handle/​run/​manage the economy boost investment/​spending/​employment/​growth stimulate demand/​the economy/​industry cut/​reduce investment/​spending/​borrowing reduce/​curb/​control/​keep down inflation create/​fuel growth/​demand/​a boom/​a bubble encourage/​foster/​promote/​stimulate/​stifle innovation/​competition encourage/​work with/​compete with the private sector increase/​boost/​promote US/​agricultural exports ban/​restrict/​block cheap/​foreign imports the economy grows/​expands/​shrinks/​contracts/​slows (down)/recovers/​improves/​is booming enjoy an economic/​housing/​property boomEconomic problems push up/​drive up prices/​costs/​inflation damage/​hurt/​destroy industry/​the economy cause/​lead to/​go into/​avoid/​escape recession experience/​suffer a recession/​downturn fight/​combat inflation/​deflation/​unemployment cause/​create inflation/​poverty/​unemployment create/​burst a housing/​stock market bubble cause/​trigger a stock market crash/​the collapse of the banking system face/​be plunged into a financial/​an economic crisis be caught in/​experience cycles of boom and bustPublic finance cut/​reduce/​slash/​increase/​double the defence/(especially US English) defense/​education/​aid budget increase/​boost/​slash/​cut public spending increase/​put up/​raise/​cut/​lower/​reduce taxes raise/​cut/​lower/​reduce interest rates ease/​loosen/​tighten monetary policy balance the (state/​federal) budget achieve/​maintain a balanced budget run a ($4 trillion) budget deficit/​surplus See related entries: Economy Word Origin Middle English (also in the sense ‘estimate or determine the amount of a penalty or damages’): from Old French taxer, from Latin taxare ‘to censure, charge, compute’, perhaps from Greek tassein ‘fix’.Extra examples April is tax season. By broadening the tax base the chancellor could raise more revenues. By broadening the tax base= making more people pay tax the chancellor could raise more revenues. Claims for expenses can be set off against tax. Collectively, smokers pay over £15 000 a day in tax. Direct taxes could only be levied with the consent of Parliament. He gave the Porsche to his mother as a tax dodge. He is non-resident for tax purposes. He was criticized for putting a new tax burden on the poor. He was ordered to pay $2 million in tax arrears. Her accountant was good at exploiting tax loopholes. Her salary puts her in the highest tax band. His tax affairs are under investigation by the police. It’s time to renew your car tax. Profits after tax were $562 000. She is living as a tax exile in Monaco. She was charged with conspiracy to evade taxes. Taxes look set to rise again. The government may put an indirect tax on books. The island is a popular tax haven for the very rich. The privatized utility companies may be faced with a windfall tax on the profits of the last few years. The tax office demanded £80 000 in back taxes. The tax year begins in April. There are tax advantages to working freelance. You have to fill in your tax return by tomorrow. You will only receive tax relief on the first $30 000. Your employer will deduct the tax for you. a higher-rate tax payer an increase in tax liability on company cars an increase in the basic rate of tax introducing a 60% tax on alcohol putting a new tax burden on the middle classes the amount on which capital gains tax is payable the government department responsible for collecting taxes the rules for deciding on someone’s residence status for UK tax purposes I pay £8 000 a year in tax. The business makes £750 000 after tax. The government had to raise taxes to pay for the war. The middle classes are demanding tax cuts. There’s no tax on cigarettes in some countries. You must pay road tax if you have a car. income/​sales/​road/​property tax
See the Oxford Advanced American Dictionary entry: tax