purchase tax

purchase tax
a sales tax on nonessential and luxury goods.
[1935-40]

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Universalium. 2010.

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  • purchase tax — ➔ tax1 * * * purchase tax UK US noun [C or U] COMMERCE, TAX ► a tax that is added to the price of something that people buy, but not to the price of basic goods: »In the UK VAT was introduced in 1973, replacing purchase tax. → Compare SALES TAX( …   Financial and business terms

  • purchase tax — noun : a tax imposed in Great Britain upon various commodities at rates graduated according to the degree of luxury or necessity of the particular commodity * * * Brit. a sales tax on nonessential and luxury goods. [1935 40] * * * purchase tax… …   Useful english dictionary

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  • tax — ▪ I. tax tax 1 [tæks] noun [countable, uncountable] TAX an amount of money that you must pay to the government according to your income, property, goods etc, that is used to pay for public services: • The President said he would cut taxes for… …   Financial and business terms

  • Tax rate — For a type of taxation system in the United Kingdom and elsewhere, see Rates (tax). Taxation An aspect of fiscal policy …   Wikipedia

  • Tax holiday — A tax holiday is a temporary reduction or elimination of a tax. Governments usually create tax holidays as incentives for business investment. The taxes that are most commonly reduced by national and local governments are sales taxes. In… …   Wikipedia

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