taxation

American  

[tak-sey-shuhn] / tækˈseɪ ʃən /

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 British  

/ 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 Cultural  

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

---

Usage

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.

Other Word Forms

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

Etymology

Origin of taxation

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

Example Sentences

A spokesperson added: "We are taking radical action using the planning, property, and taxation systems to achieve this, as part of a joined-up package of solutions to a complex set of issues."

From BBC

The solution of indexing capital gains to inflation would correct this distortion by adjusting the original purchase price for inflation before calculating taxable gains, ensuring that only genuine appreciation beyond inflation is subject to taxation.

From Los Angeles Times

The government has already announced that from April some levies will be scrapped or funded from general taxation, leading to a fall in energy costs for a typical household.

From BBC

TotalEnergies said its cash flow from operations from barrels in the Middle East are lower than its portfolio average due to higher taxation.

From The Wall Street Journal

The inquiry will also look at whether repayment terms are "reasonable" when considered alongside the "broader taxation of graduates" such as income tax.

From BBC

Related Words

• duty
• tariff
• tax
• tax collection