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

Sales were boosted by the expiration of the $7,500 federal EV purchase tax credit.

From Barron's ● Jun. 16, 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

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

EV sales fell in the fourth quarter and are expected to decline in 2026 after the September expiration of the $7,500 federal EV purchase tax credit.

From Barron's ● Apr. 8, 2026

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