taxation

[tak-sey-shuhn]

noun

1. the act of taxing. tax.

2. the fact of being taxed.

3. a tax imposed.

4. the revenue raised by taxes. taxis. tax.

taxation

/ tækˈseɪʃən /

noun

1. the act or principle of levying taxes or the condition of being taxed

2. 1. an amount assessed as tax

   2. a tax rate

3. revenue from taxes

taxation

1. A government's practice of collecting money from citizens and businesses within its domain to support its operations.

Other Word Forms

• taxational adjective
• antitaxation adjective
• nontaxation noun
• protaxation adjective
• retaxation noun
• self-taxation noun

Word History and Origins

Origin of taxation¹

1250–1300; < Medieval Latin taxātiōn- (stem of taxātiō ) an appraising ( tax, -ation ); replacing Middle English taxacioun < Anglo-French < Medieval Latin, as above

Example Sentences

The accord left the Fed in charge of government spending and taxation, or fiscal policy.

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The big levers of taxation are not being touched in this budget, as a review of the island's corporate tax system and the planned introduction of a GST are currently under way.

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Away from business taxes, rising individual taxation levels are an issue for Roberts, who says he knows of wealthy people leaving the UK.

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But he added that the "huge multibillion cost" meant it had an impact on taxation, traditionally a matter for Parliament, and could "change the decisions the chancellor makes" at November's Budget.

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The precise stance it takes on taxation ahead of the next general election, however, is not yet clear.

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Related Words

• duty 
• tariff 
• tax 
• tax collection www.thesaurus.com

When To Use

What is taxation?

Taxation is the act of making people and organizations pay taxes.Taxation is how a government collects money (taxes) in order to financially support itself. Governments use the money collected from citizens to pay for welfare programs, the military, roads and bridges, government employees, science programs, public schools, and the many other services a government is responsible for. Almost every country on Earth has some form of taxation system.Taxation is not voluntary, even if the taxpayer doesn’t directly benefit from the tax they pay. You cannot refuse to pay taxes without consequences. In most countries, you will be jailed or suffer another punishment for not paying taxes.