taxation

taxation tax‧a‧tion [tækˈseɪʆn] noun [uncountable] TAX

1. the act or system of charging taxes:

• These reforms will occur at the same time as changes in banking and taxation.

• Reinvested profits would be exempt from taxation (= would not be taxed ) .

ˌcapital taxˈation TAX

tax on money owned as capital rather than on money earned as income:

• There are differences between the parties' policies on capital taxation, namely inheritance tax and capital gains tax.

deˌferred taxˈation TAX

taxation using Deferred Taxes

diˌrect taxˈation TAX

taxation using Direct Taxes

disˌcriminatory taxˈation TAX ECONOMICS

taxation using discriminatory

ˌdouble taxˈation TAX ECONOMICS

when a single amount of money is taxed twice. For example, company profits are taxed and then taxed again when they are given to shareholders in the form of dividend S:

• The US taxes corporate profits when they are earned and also when they are paid to shareholders in the form of dividends; eliminating this double taxation has long been a goal of economists.

ˌindirect taxˈation TAX

taxation using Indirect Taxes

ˌmultiple taxˈation TAX

when a single amount of money is taxed more than once, often by two or more different authorities in a way that may be unfair or illegal:

• The tax was imposed in a way that would expose the same property to multiple taxation by Florida and other states where the company does business.

2. money collected from taxes:

• We'll have to consider even higher taxation in the next year or two.

— see also equity of taxation

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taxation UK US /tækˈseɪʃ^ən/ noun [U] TAX, GOVERNMENT

► the system of collecting taxes: »

The proposals restrict investors' ability to shelter their assets from taxation.

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Reform of the country's taxation system is high on the Government's economic agenda.

central/general/local taxation »

Britain has one of the highest rates of personal taxation in the world.

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Generally, all capital gains are taxable unless you are exempt from taxation.

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In Europe health care, education or sponsorship of the arts, have largely been financed through higher rates of taxation.

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The committee proposed a sweeping overhaul of the tax code last week, aimed at shifting more of the burden of taxation to the wealthy

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business/company/corporate taxation

► money that is collected as tax: cut/reduce/raise taxation »

The big corporations are adamant the government must reduce taxation.

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excessive/heavy taxation

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high/low taxation

→ See also CAPITAL TAX(Cf. ↑capital tax), DEFERRED TAX(Cf. ↑deferred tax), DIRECT TAXATION(Cf. ↑direct taxation), DISCRIMINATORY TAXATION(Cf. ↑discriminatory taxation), DOUBLE TAXATION(Cf. ↑double taxation), INDIRECT TAXATION(Cf. ↑indirect taxation), MULTIPLE TAXATION(Cf. ↑multiple taxation), REDISTRIBUTIVE TAXATION(Cf. ↑redistributive taxation)