tax holiday

[taks hol-i-dey]

noun

1. a period of time during which the government reduces or suspends the collection of a tax, as payroll, property, or sales tax.

   The state legislature declared a hurricane preparedness tax holiday for items like flashlights and battery-powered radios.

tax holiday

noun

1. a period during which tax concessions are made for some reason; examples include an export incentive or an incentive to start a new business given by some governments, in which a company is excused all or part of its tax liability

Word History and Origins

Origin of tax holiday¹

First recorded in 1945–50