tax

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tax

a 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:
  1. to raise revenue to finance government spending (see BUDGET);
  2. to promote social equity by redistributing income and wealth (see DISTRIBUTION OF INCOME);
  3. to regulate the level of total spending in the economy (see FISCAL POLICY);
  4. 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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

tax

a levy imposed by the government on the income, wealth and capital gains of persons and businesses (DIRECT TAX), on spending on goods and services (INDIRECT TAX), and on properties. In the UK, taxes on income include personal INCOME TAX and CORPORATION TAX; ‘inheritance tax’ is used to tax wealth (see WEALTH TAX) and CAPITAL GAINS TAX is used to tax ‘windfall’ profits; taxes on spending include VALUE-ADDED TAX, EXCISE DUTY and TARIFFS; taxes on properties include the council tax (see LOCAL TAX) and the UNIFORM BUSINESS RATE. Such taxes are used to raise revenue for the government and as a means of controlling the level and distribution of spending in the economy. See TAXATION, PUBLIC FINANCE.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
This was controversial among the Single Taxers, since it meant they'd be paying a new levy that wasn't based on Georgist principles; many of them preferred to educate their children privately or at home.
Garland believed that George's main importance for Australians was that they became familiar with the theoretical arguments in favour of land taxation, even though they rejected the 'grosser excesses' and 'more manifest extravagances' of his doctrines, and even if they became land taxers rather than Single Taxers (Garland 1934, p.
The pro-income taxers tell us that without more money, the Eugene and Bethel school districts will increase class sizes and generally face disaster.
The trouble is that sin taxers don't appreciate human creativity: Consumers have a knack for replacing one sin with another.
Countries with low or declining tax rates can increase their government spending three times faster than countries with high or rising tax rates, because the low-tax countries grow six times faster than the high taxers.
The starry-eyed gas taxers were politically immolated by free-market zealots who resisted any tinkering with the mysterious machinations of the all-powerful, all-seeing eye of holy commerce.
Recent debate has been between carbon taxers and emissions traders.