tax

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tax

n. a governmental assessment (charge) upon property value, transactions (transfers and sales), licenses granting a right, and/or income. These include Federal and state income taxes, county and city taxes on real property, state and/or local sales tax based on a percentage of each retail transaction, duties on imports from foreign countries, business licenses, Federal tax (and some states' taxes) on the estates of persons who have died, taxes on large gifts, and a state "use" tax in lieu of sales tax imposed on certain goods bought outside of the state. (See: income tax, estate tax, gift tax, use tax, unified estate and gift tax, franchise tax)

tax

noun assessment, capitation, charge, dues, duty, exaction, exactment, excise, imposition, impost, levy, pollage, portorium, scot, tariff, taxation, tithe, toll, tribute, vectigal
Associated concepts: action for taxes, ad valorem tax, apportionment of taxes, back taxes, collection of taxes, current tax, delinquent tax, direct tax, discriminatory tax, douule taxation, estate tax, evasion of taxation, excess profits tax, excessive tax, excise tax, federal estate tax, federal taxes, franchise tax, general tax, graduated tax, income tax, indirect tax, inheritance tax, land tax, levy a tax, power of taxation, power to tax, progressive tax, propprty tax, proportional tax, regulatory tax, retroactive tax, sales tax, tax anticipation note, tax assessor, tax deed, tax district, tax lien, tax roll, tax sale, tax title, tax warrants, transfer tax, withholding taxes

tax

(Levy), verb assess, collect, exact, lay a duty, require

tax

(Overwork), verb burden, cumber, debilitate, deprive of strength, disable, drain, encumber, exact, fatigue, load, make excessive demands, oppress, overexercise, overexert, overfatigue, overload, overstrain, overtire, overuse, push too far, require, saddle with, strain, task, tire out, tyrannize, use hard, weaken, wear down, wear out, weary, weigh down
See also: assess, assessment, charge, coerce, compel, cost, deplete, encumber, enforce, exact, excise, exhaust, fine, force, hinder, impose, levy, rebuke, reproach, require, toll

tax

a levy made by national or local government to pay for services provided by public bodies. There is no inherent power in the Crown to raise money in this way; express provision must be made by statute. Changes to tax law are made annually in the Finance Act(s); periodically the law is consolidated, as for example in the Income and Corporation Taxes Act 1988 or the Taxation of Chargeable Gains Act 1992. See TAXATION.
References in periodicals archive ?
1 indicates, compliance costs of taxation occur in different forms and we tried to include not only classic compliance costs that occurred internally, or were paid to external bodies, but also some indirect compliance costs--namely the value of time (see Sandford (1989, pp.
One of those commenting online about the initial 2013 announcement of the study of compliance costs was Leonard Ryan, president of Laguna Hills, California-based QuestSoft Corporation, a respected industry compliance company.
Among executives at companies whose revenue ranged from $1 billion to $5 billion, 58% thought compliance costs were rising, Thompson said, although that portion fell to 48% among executives from companies with revenues above $5 billion.
Evidence suggests that companies deploying enabling technologies that reduce the complexity of file management can decrease the overall compliance costs associated with the storage of unstructured information," said Larry Ponemon, chairman of the Ponemon Institute.
Opponents of a shift from income taxes to a national consumption tax cite the report's conclusion that "any replacement tax system will impose significant compliance costs of its own.
The Government also recognizes that compliance costs are potentially a serious constraint on entrepreneurship and economic growth (Ministerial Panel 2001, Cullen, Swain and Wright 2001).
Power producers face only local or regional competition, so they can pass higher compliance costs through to their customers while globally competitive industries, like the forest products industry, cannot.
The study's key findings are that compliance costs are much higher for companies with at least one subsidiary in another EU Member State, and that the cost increases with the number of subsidiaries in other countries; it also concludes that compliance costs are disproportionately higher for small to medium-sized enterprises (SMEs).
NAM's estimate of total compliance costs is nearly identical to the findings reported in "'The Ten Thousand Commandments," a recent paper produced by economist Clyde Wayne Crews Jr.
In the past few years' liaison meetings with CCRA and the Department of Finance, TEI has made a number of recommendations to streamline the administration of the Act and reduce taxpayer compliance costs.
As a result, the installation of in-line fluxers can decrease emissions, encourage more efficient chlorine use and reduce compliance costs.
This article provides a review of the literature on the compliance costs of tax regulations borne by small firms in the USA, the UK, Australia and New Zealand.

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