tax

I UK [tæks] / US noun [countable/uncountable]
Word forms "tax":
singular tax plural taxes
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an amount of money that you have to pay to the government that it uses to provide public services and pay for government institutions. There are several different types of tax, for example income tax that is paid on your income, or a duty that is paid on goods that you buy or sell

Income tax payments are due on the 15th of April.

She owes over £50,000 in unpaid taxes.

raise/lower taxes:

The government has promised to lower taxes after the election.

tax on:

plans for an increase in the tax on petrol

tax burden (= the amount of tax that someone must pay):

The increased tax burden could force many small companies to close.

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Collocations:
Verbs frequently used with tax as the object ▪  abolish, avoid, cut, evade, impose, increase, levy, lower, pay, raise, reduce

- after tax

- before tax

- raise taxes

II UK [tæks] / US verb [transitive]
Word forms "tax":
present tense I/you/we/they tax he/she/it taxes present participle taxing past tense taxed past participle taxed
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1)

a) economics to get money for public services and other government institutions by putting a tax on something

Child care for working mothers should not be taxed.

government plans to tax private schools

b) to get money by making someone pay a tax

Couples may choose to be taxed as two single persons.

••

See:

raise taxes

2) formal to cause problems, or to make things difficult for someone

The crowds have severely taxed the security services.

Having to repeat things constantly can really tax your patience.

Phrasal verbs:

- tax with