Taxation meaning & definition

How to use taxation in a sentence. The intention of tax treaties is to avoid or eliminate double taxation. Information about taxation in the AudioEnglish. 00 / 0 votes)Rate this definition: tax, taxation, revenue enhancement (noun) charge against a citizen's person or property or activity for the support of government. ". (noun) When the government charges a tax on income earned, products purchased, and property owned, this is an example of taxaDefinition of taxation in the AudioEnglish. taxation definition: Taxation is the process by which the government collects money from people to use for government purposes. Tax is an amount of money that you have to pay to the government so that it can pay for public services. No-one enjoys paying tax. Though taxation can be a noun or verb, it is usually referred to as an act; the resulting revenue is usually called "taxes. Learn more about taxation in this article. Income tax is a tax that governments impose on income generated by businesses and individuals within their jurisdiction. Dec 06, 2019 · Taxes are applied through tax rates. 3 : the amount assessed as a tax. Definition of taxation: A means by which governments finance their expenditure by imposing charges on citizens and corporate entities. Meaning of taxation. Income Tax Definition. the process by which the government of a country obtains money…. A fee charged ("levied") by a government on a product, income, or activity. The term "taxation" applies to all types of involuntary levies, from income to capital gains to estate taxes. Use 'tax' in a Sentence. . After reading this article you will learn about: 1. A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures. Define tax. (noun) When the government charges a tax on income earned, products purchased, and property owned, this is an example of taxaDefinition of taxation. The meaning of business taxation refers to the taxes that businesses must pay as a normal part of business operations. com. Oct 18, 2019 · Taxation, imposition of compulsory levies on individuals or entities by governments. The term double taxation which existed in the tax treaties is mostly juridical double taxation, which "refers to circumstances where a taxpayer is subject to tax on the same income (or capital) in more than one jurisdiction". the system of taxing people 2. 1. Without taxation, there would be no public libraries or parks. 1 : the action of taxing; especially : the imposition of taxes. There is a time gap between the provision made and payment of the actual tax liability. ADVERTISEMENTS: Meaning: Provision for taxation is the provision made out of current profits to meet the tax obligation. A charge imposed by government on the annual gains of a person, corporation, or other taxable unit derived through work, business pursuits, investments, property dealings, and other sources determined in accordance with the Internal Revenue Code or state law. One of the most frequently debated political topics is taxation. Types of Canons of Taxation 3. If tax is levied on the price of a good or service, then it is called an indirect tax. taxation (noun) the imposition of taxes; the practice of the government in levying taxes on the subjects of a state. What is 'Taxation'. • The recent shift towards indirect taxation would have lowered even further the position of this country in the comparative scene. org dictionary, synonyms and antonyms. Learn more. tax synonyms, tax pronunciation, tax translation, English dictionary definition of tax. Features of Provision for Taxation: Provision for taxation […]ADVERTISEMENTS: Let us study about the Canons of Taxation. (an amount of) money paid to the government that is based on your income or the cost of goods or…. variable noun. If tax is levied directly on personal or corporate income, then it is a direct tax. Princeton's WordNet (0. 2 : revenue obtained from taxes. Taxation definition is - the action of taxing; especially : the imposition of taxes. a cut in tax on new cars. taxation definition: 1. So it serves as a source of short-term finance during the intermediate period. Taxes have been called the building block of civilization. The purpose of taxation is to finance government expenditure. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. The existence of government is a necessity that cannot continue without financial means to pay its expenses; therefore,Taxation refers to the practice of a government collecting money from its citizens to pay for public services. Whether you are a sole proprietor, partner, part of a limited liability company, or a corporation, your business is responsible for adhering to tax regulations. Taxation is the practice of collecting taxes (money) from citizens based on their earnings and property. Meaning of Canons of Taxation 2. Definition. tax definition: 1. the act of taxing. a tax imposed. Characteristics. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. How to use tax in a sentence. Meaning of Canons of Taxation: By canons of taxation we simply mean the characteristics or qualities which a good tax system should possess. , of individuals and organizations. the revenue raised by taxes. noun. the fact of being taxed. tax income, taxation, tax revenue, revenue (noun) government income due to taxation. They are calling for large spending cuts and tax increases. a pledge not to raise taxes on people below a certain income. Taxation is a term for when a taxing authority, usually a government, levies or imposes a tax. Income Tax. From Longman Business Dictionary taxation tax‧a‧tion / tækˈseɪʃ ə 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 . Tax definition is - a charge usually of money imposed by authority on persons or property for public purposes. The theory that underlies taxation is that charges are imposed to support the government in exchange for the general advantages and protection afforded by the government to the taxpayer and his or her property. [tak-sey-shuh n] See more synonyms for taxation on Thesaurus. Compulsory monetary contribution to the state's revenue, assessed and imposed by a government on the activities, enjoyment, expenditure, income, occupation, privilege, property, etc. Governments use taxation to …Taxation. In […]Problems. What does taxation mean? Proper usage and audio pronunciation (plus IPA phonetic transcription) of the word taxation. a sum of money demanded by a government; levy; lay a burden on; strain, stretch Not to be confused with: tacks – short, sharp nails with broad, flat heads; Tax - definition of tax by The Free Dictionary. org Dictionary. a compulsory financial contribution imposed by a government to raise revenue, levied on the income or property of persons or organizations, on the production costs or sales prices of goods and services, etc. a heavy demand on something; straina tax on our resources

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