tax(redirected from taxer)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.
taxa levy imposed by the government on GOODS and SERVICES (INDIRECT TAX) and the INCOME and WEALTH of persons and businesses (DIRECT TAX). The government uses taxes for a number of purposes such as:
- to raise revenue to finance government spending (see BUDGET);
- to promote social equity by redistributing income and wealth (see DISTRIBUTION OF INCOME);
- to regulate the level of total spending in the economy (see FISCAL POLICY);
- to protect domestic producers from imports (see TARIFF). See INCOME TAX, CORPORATION TAX, CAPITAL GAINS TAX, WEALTH TAX, INHERITANCE TAX, VALUE-ADDED TAX, CUSTOMS DUTY, EXCISE DUTY.