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

The U.S. government has a monthslong backlog of Americans asking to renounce their citizenship, either to secure a foreign passport or to avoid taxation of their earnings abroad.

From The Wall Street Journal

At the right-leaning Tax Foundation, he lives in the complex world of international corporate taxation.

From The Wall Street Journal

Unlike state pensions - which are paid out of general taxation - local governments and their workers pay into schemes that guarantee a level of income in retirement, often linked to final or average salaries.

From BBC

It is ironic that Harrison’s protest against taxation ended up foreshadowing private markets’ capture of artistic value.

From The Wall Street Journal

She will also announce in her policy speech a cross-party "national council" to discuss taxation and how to fund ageing Japan's ballooning social security bill, media reports said.

From Barron's

Related Words

• duty
• tariff
• tax
• tax collection