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

Example Sentences

The loss of the $7,500 federal purchase tax credit in September pushed sales into the third quarter.

From Barron's

Another question will be the state of the electric-vehicle market, given the September loss of the $7,500 federal EV purchase tax credit.

From Barron's

Part of the reason for the decline was the loss of the $7,500 federal EV purchase tax credit in September.

From Barron's

EVs lost the $7,500 federal purchase tax credit in September, which will very likely lead to fewer EVs sold in the U.S. in 2026 compared with 2025.

From Barron's

XPeng also plans to offer a number of promotions in 1Q, including a discount to offset the incremental increase in China’s EV purchase tax for entry-level models, Nomura says.

From The Wall Street Journal