Tax

Tax and treasury.

1. Noun.

A compulsory financial contribution imposed by a government to raise revenue.

Levied on the income or property of persons or organisations, on the sale price of many goods and services and on certain other transactions.

Examples include Income Tax, Value Added Tax and customs duty.

2. Verb.

To levy a tax.

See also

• Accruals basis
• Business in Europe: Framework for Income Taxation
• Business rates
• Cash basis
• Charge
• Claims and elections
• Cliff edge
• Concession
• Customs duty
• DEBRA
• Determination
• Direct tax
• Double taxation
• Duty
• Her Majesty’s Revenue & Customs
• Indirect tax
• Levy
• Sales Tax
• Schedular system
• Supertax
• Surcharge
• Tax break
• Tax compliance
• Tax computation
• Tax rate
• Tax relief
• Tax risk
• Tax shield
• UK Bank Levy