purchase tax

purchase tax
noun
: a tax imposed in Great Britain upon various commodities at rates graduated according to the degree of luxury or necessity of the particular commodity

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Brit.
a sales tax on nonessential and luxury goods.
[1935-40]

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purchase tax noun
Formerly, a British form of sales tax levied on specified goods and at differential rates
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Main Entry:purchase

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purchase tax,
British. a tax on retail sales of consumer goods, except food, fuel, and books, differing from the American sales tax in that the rate for each class of goods is based inversely on its estimated necessity in daily life: »

It is suggested that the Government should sweep away all direct taxes, including turnover and purchase tax (Sunday Times).

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ˈpurchase tax 7 [purchase tax purchase taxes] noun uncountable, countable
a tax that is added to the price of goods sold to customers

Useful english dictionary. 2012.

Look at other dictionaries:

  • purchase tax — ➔ tax1 * * * purchase tax UK US noun [C or U] COMMERCE, TAX ► a tax that is added to the price of something that people buy, but not to the price of basic goods: »In the UK VAT was introduced in 1973, replacing purchase tax. → Compare SALES TAX( …   Financial and business terms

  • purchase tax — tax added to the cost of consumer goods …   English contemporary dictionary

  • purchase tax — Brit. a sales tax on nonessential and luxury goods. [1935 40] * * * …   Universalium

  • purchase tax — noun a tax added to the price of goods sold to consumers …   English new terms dictionary

  • purchase tax — /ˈpɜtʃəs tæks/ (say perchuhs taks) noun British → sales tax …   Australian-English dictionary

  • purchase tax — / pɜ:tʃɪs tæks/ noun a tax paid on things which are bought …   Marketing dictionary in english

  • purchase tax — / pɜ:tʃɪs tæks/ noun a tax paid on things which are bought …   Dictionary of banking and finance

  • tax — ▪ I. tax tax 1 [tæks] noun [countable, uncountable] TAX an amount of money that you must pay to the government according to your income, property, goods etc, that is used to pay for public services: • The President said he would cut taxes for… …   Financial and business terms

  • Tax rate — For a type of taxation system in the United Kingdom and elsewhere, see Rates (tax). Taxation An aspect of fiscal policy …   Wikipedia

  • Tax holiday — A tax holiday is a temporary reduction or elimination of a tax. Governments usually create tax holidays as incentives for business investment. The taxes that are most commonly reduced by national and local governments are sales taxes. In… …   Wikipedia

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