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noun [countable/uncountable] tax pronunciation in British English /tæks/
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singulartax
pluraltaxes
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  1. an amount of money that you have to pay to the government that it uses to provide public services and pay for government institutions. There are several different types of tax, for example income tax that is paid on your income, or a duty that is paid on goods that you buy or sell
    Income tax payments are due on the 15th of April.
    She owes over £50,000 in unpaid taxes.
    raise/lower taxes: The government has promised to lower taxes after the election.
    tax on: plans for an increase in the tax on petrol
    tax burden (=the amount of tax that someone must pay): The increased tax burden could force many small companies to close.

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