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

February’s data was distorted by comparisons with a year earlier, when a two-month federal tax holiday on some purchases came to end and meant Canadians were paying more for items including restaurant meals, alcoholic drinks and toys.

From The Wall Street Journal

Cinquegrana points to three: waiving summer gasoline volatility rules, expanding E15 access, and pursuing a gasoline tax holiday.

From Barron's

Items affected by the year-earlier tax holiday saw a rise in comparable prices, particularly for restaurant meals and, to a lesser degree, for alcoholic drinks, toys and children’s clothing.

From The Wall Street Journal

India is also proposing a tax holiday up to 2047 for foreign cloud companies making data-centre investments in the country and providing cloud services to customers globally.

From BBC

OTTAWA—Inflation in Canada quickened in the final month of last year despite a drop in prices at the pump, largely due to comparisons with a year earlier when consumers benefited from a two-month tax holiday.

From The Wall Street Journal