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.
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.