taxation

American  

[tak-sey-shuhn] / tækˈseɪ ʃən /

noun

1. the act of taxing. tax.

2. the fact of being taxed.

3. a tax imposed.

4. the revenue raised by taxes. taxis. tax.

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taxation British  

/ tækˈseɪʃən /

noun

1. the act or principle of levying taxes or the condition of being taxed

2. 1. an amount assessed as tax

   2. a tax rate

3. revenue from taxes

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taxation Cultural  

1. A government's practice of collecting money from citizens and businesses within its domain to support its operations.

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Usage

What is taxation? Taxation is the act of making people and organizations pay taxes.Taxation is how a government collects money (taxes) in order to financially support itself. Governments use the money collected from citizens to pay for welfare programs, the military, roads and bridges, government employees, science programs, public schools, and the many other services a government is responsible for. Almost every country on Earth has some form of taxation system.Taxation is not voluntary, even if the taxpayer doesn’t directly benefit from the tax they pay. You cannot refuse to pay taxes without consequences. In most countries, you will be jailed or suffer another punishment for not paying taxes.

Other Word Forms

• antitaxation adjective
• nontaxation noun
• protaxation adjective
• retaxation noun
• self-taxation noun
• taxational adjective

Etymology

Origin of taxation

1250–1300; < Medieval Latin taxātiōn- (stem of taxātiō ) an appraising ( tax, -ation ); replacing Middle English taxacioun < Anglo-French < Medieval Latin, as above

Example Sentences

We’re going to need to start preparing the ground for a real solution, from either the spending or taxation side, with some straight talk from respected political leaders.

From The Wall Street Journal

That included cutting a scheme that was designed to tackle fuel poverty and help reduce carbon emissions, as well as shifting some costs onto general taxation.

From BBC

She went on to raise a series of concerns including "inadequate benefit levels" and "backdoor taxation for social care support".

From BBC

Reeves said the insulation scheme - called the Energy Company Obligation - would be scrapped, and for three years, renewable energy projects will be 75%-funded by general taxation instead of a levy on energy bills.

From BBC

When it comes to structural change, he said, “if you’re not talking about the budget and taxation, then you’re not really talking.”

From MarketWatch

Related Words

• duty
• tariff
• tax
• tax collection