defining common tax-terms

back tax

 noun

tax that you owed at an earlier time but did not pay

capital gains tax

 noun

tax that a person or company pays on the profit you get from selling property or from money you have invested

capitation

 noun

tax or payment in which the same amount of money is paid by each person

carbon tax

 noun

tax on vehicles or factories that produce a lot of carbon emissions

CGT

 abbreviation

british

 capital gains tax

corporate tax

 noun

american

 a tax that companies pay on their profits

corporation tax

 noun

british

 corporate tax

customs

 noun

the taxes that you pay on goods that you bring into a country

death tax

 noun

american

 inheritance tax

direct tax

 noun

tax collected directly from a person or organization instead of as part of the price of a product or service

duty

 noun

economics

 a tax that you must pay on something, especially something that you bring into one country from another country

estate tax

 noun

american

 a tax paid in the U.S. on the money and property that are left when someone dies

excise

 noun

tax that a government charges on services used and goods sold inside its country

federal tax

 noun

american

 a tax that people pay to the national government of the U.S.

GST

 noun

Goods and Services Tax: a tax that in some countries forms part of the price of some things that you buy

hidden tax

 noun

an indirect tax

income tax

 noun

tax based on your income that you pay to the IRS once a year or every three months

indirect tax

 noun

tax on goods and services rather than on income

indirect taxation

 noun

the practice of taxing goods and services rather than income

inheritance tax

 noun

tax that you pay on the money or property that you get from someone who has died

mansion tax

 noun

tax that has to be paid by anyone who owns or sells a house that is worth a very large amount of money

poll tax

 noun

an amount of money collected as a tax from every adult citizen of a particular country

progressive tax

 noun

tax system in which people who earn a lot of money pay a larger percentage of their income in tax than people who earn less

property tax

 noun

tax that you pay based on the value of the land and buildings you own

regressive tax

 noun

tax system in which poor people pay a bigger percentage of their income than rich people

road tax

 noun

money that people in some countries must pay if they want to drive their vehicles on public roads

sales tax

 noun

tax that is added to the basic price of something you buy

stamp duty

 noun

tax that people in the U.K. pay on some official documentsespecially when they are buying a house

supertax

 noun

surtax

surtax

 noun

an additional tax on something on which you already pay taxespecially a high income

tariff

 noun

tax that a government charges on goods that enter or leave their country

taxation

 noun

the system that a government uses for collecting money from people in the form of taxes

taxation

 noun

the money that a government collects from people from taxes

tithe

 noun

tax that people paid to the church in the past

value added tax

 noun

VAT

VAT

 noun

value added tax: a tax on goods and services

windfall tax

 noun

an extra amount of tax that the government charges a company that makes a lot of money unexpectedly

withholding tax

 noun

part of a person’s salary that an employer gives to the government as payment of that person’s taxes


direct taxation

 tax

 noun

tax collected directly from a person or organization instead of as part of the price of a product or service


taxer

 noun

a bureaucrat who levies taxes







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