tax

regressive

Sales tax is regressive because it takes a larger percentage from people with lower incomes.

windfall

The government introduced a windfall tax on banks that made huge profits during the crisis.

back

The government promised to cut back taxes for small businesses next year.

car, road, vehicle

We need to pay our vehicle tax before the registration expires next month.

impose, introduce, levy, put

The city council decided to impose a new tax on plastic bags to reduce waste.

collect

The local authority collects taxes from all property owners in the district.

deduct

The government will deduct taxes from your monthly salary automatically.

offset sth against, set/write sth off against

You can deduct your business expenses against your annual tax bill.

evade

The company faced serious penalties after auditors discovered they had tried to evade tax for several years.

go up, increase, rise

Property taxes went up significantly this year, affecting many homeowners in the city.

be chargeable, be payable

The fee is payable by the end of the financial year.

payer (also taxpayer)

Many small business owners struggle because they are self-employed tax payers with significant annual bills.

authority/authorities, office, man (also taxman)

The local tax office notified him about his unpaid bills from last year.

period, year

During the last tax period, many people filed their returns online for the first time.

band, bracket, rate, threshold

Most people want the government to lower the income tax rate on middle-class workers.

assessment, form, return

The accountant reviewed my tax assessment and found I had overpaid by several hundred dollars.

advantage, allowance, benefit, break, concession, credit, exemption, incentive, perks, rebate, refund, relief

Families with children can claim a tax credit to reduce what they owe each year.

affairs, arrangements

The company hired an accountant to manage its complex tax arrangements.

loophole

The company discovered a tax loophole that allowed them to reduce their annual payments.

dodge, evasion, fraud

The company faced serious charges for tax fraud after the auditors discovered hidden accounts.

exile

The famous actor became a tax exile after moving to Switzerland to reduce his financial obligations.

haven

Several wealthy business owners moved their companies to a small country that operates as a tax haven.

arrears

The company faced serious penalties for failing to pay its tax arrears over several years.

liability

The accountant calculated our tax liability for the year and found we owed more than expected.

burden

The government's latest tax burden has made it harder for small business owners to survive.

base

The government widened the tax base by including small business owners in the system.

after/before ~

The company's revenue before tax increased significantly compared to last year.

in ~

Many families struggle to pay their bills because they pay so much in tax each year.

~ on

The government decided to put a new tax on sugary drinks to improve public health.

for tax purposes

We kept separate bank accounts for tax purposes.

(the basic/higher) rate of tax

The higher rate of tax applies to people earning over fifty thousand pounds annually.

heavily

Alcohol and cigarettes are heavily taxed by the government to discourage consumption.

according to

The company calculates fees according to how much water each customer uses.

at

The government decided to tax imported cars at a higher rate to protect local businesses.

on

People in many countries have to pay tax on their property every year.