tax holiday

American  

[taks hol-i-dey] / ˈtæks ˌhɒl ɪˌdeɪ /

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.

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tax holiday British  

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

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Etymology

Origin of tax holiday

First recorded in 1945–50

Example Sentences

The budget also raises the standard deduction, removes the age requirement for a military retiree tax benefit and reinstates a popular back-to-school sales tax holiday that lawmakers forgot to renew.

From Washington Times

It also would increase the standard deduction, remove the age requirement for a military retiree tax benefit and reinstate a popular back-to-school sales tax holiday lawmakers forgot to renew.

From Seattle Times

It would also increase the standard deduction, reinstate a popular sales tax holiday and allocate more revenue to public education and college financial aid, the statement said.

From Washington Times

Officials approved a variety of tax breaks and incentives, including: $273 million for a three-month sales tax holiday on groceries; more than $150 million in annual tax breaks aimed mainly at small businesses; and $350 million for improvements at sports venues in Memphis.

From Seattle Times

It was not clear whether the Trump Organization would also benefit from tax breaks, which include a tax holiday for corporate tax for 10 to 20 years based on the investment value.

From Reuters