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Rebate |
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Discount; diminution of interest on capital lent in consideration of prompt repayment thereof; reduction of a stipulated charge that is not credited in advance but is returned subsequent to payment in full. A tax rebate is a sum of money refunded to a taxpayer after full payment of the tax has been made. rebate 1) n. a discount or deduction on sales price. A secret rebate given by a subcontractor to a contractor in return for getting the job is illegal, since it cheats the person hiring the contractor. 2) v. to give a discount or deduction. REBATE, mer. law. Discount; the abatement of interest in consequence of prompt payment. Merch. Dict. h.t. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Further, a commensurate portion of a passenger's fare is rebated. VATs are rebated to exporters in many countries, and are used as a basis for determining border taxes (the purpose of which is to put local goods and imports on the same competitive basis). Please confirm that paper invoices are not required for inter-company transactions where electronic records are maintained and contain sufficient information to allow determination of the amount of tax to be paid or collected, or the amount to be refunded, rebated or deducted from net tax. |
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