tax holiday

American  

[taks hol-i-dey] / ˈtæks ˌhɒl ɪˌdeɪ /

noun

1. a period of time during which the government reduces or suspends the collection of a tax, as payroll, property, or sales tax.

   The state legislature declared a hurricane preparedness tax holiday for items like flashlights and battery-powered radios.

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tax holiday British  

noun

1. a period during which tax concessions are made for some reason; examples include an export incentive or an incentive to start a new business given by some governments, in which a company is excused all or part of its tax liability

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Etymology

Origin of tax holiday

First recorded in 1945–50

Example Sentences

Items affected by the year-earlier tax holiday saw a rise in comparable prices, particularly for restaurant meals and, to a lesser degree, for alcoholic drinks, toys and children’s clothing.

From The Wall Street Journal

India is also proposing a tax holiday up to 2047 for foreign cloud companies making data-centre investments in the country and providing cloud services to customers globally.

From BBC

OTTAWA—Inflation in Canada quickened in the final month of last year despite a drop in prices at the pump, largely due to comparisons with a year earlier when consumers benefited from a two-month tax holiday.

From The Wall Street Journal

The budget also raises the standard deduction, removes the age requirement for a military retiree tax benefit and reinstates a popular back-to-school sales tax holiday that lawmakers forgot to renew.

From Washington Times

It also would increase the standard deduction, remove the age requirement for a military retiree tax benefit and reinstate a popular back-to-school sales tax holiday lawmakers forgot to renew.

From Seattle Times