purchase tax

American  

noun

British.

1. a sales tax on nonessential and luxury goods.

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purchase tax British  

noun

1. a tax levied on nonessential consumer goods and added to selling prices by retailers

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Etymology

Origin of purchase tax

First recorded in 1935–40

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Example Sentences

See Examples For:

purchase tax

Market concerns over the government’s replacement subsidy, an increase in China’s NEV purchase tax, and slower product launches for 2026 are among the main drivers weighing on sales, they say.

From The Wall Street Journal ● Sep. 15, 2026

A reduction in subsidies and a 5% purchase tax hike on EVs are expected to slow market momentum.

From The Wall Street Journal ● May 19, 2026

What’s more, the average price of a new EV is down about $3,000 since the September expiration of the $7,500 federal purchase tax credit, to about $55,000 External link.

From Barron's ● May 19, 2026

The reduction in government subsidies and a 5% purchase tax hike on EVs are expected to slow market momentum, following a high base with demand pulled forward into 2024-2025.

From The Wall Street Journal ● May 6, 2026

The $7,500 federal purchase tax credit expired in September, and first-quarter U.S.

From Barron's ● May 5, 2026

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