tax

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tax

a compulsory financial contribution imposed by a government to raise revenue, levied on the income or property of persons or organizations, on the production costs or sales prices of goods and services, etc.
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Taking part in the discussion opposition lawmaker Nawaz Khan Naji said it would be considered discrimination against the GB people by the centre if the region was not declared a tax-free zone.
A client who incurs higher than anticipated medical expenses can access the HSA tax-free, but the 401(k) funds would be fully taxable (and, if the account is a 401(k) and the expense is the cost of health insurance while the client is unemployed, the 10% early withdrawal penalty will apply--if the client is receiving unemployment compensation, the HSA funds would be tax-free).
'Ang intensyon ng CMTA ay gawing tax-free ang balikbayan boxes na may halagang P150,000 times three kada taon, at hindi P150,000 divided by three (The intention of CMTA is to make tax-free the balikbayan boxes amounting to P150,000 times three per year, and not P150,000 divided by three),' Angara said during an oversight committee hearing on the review of CMTA's implementation.
However, if you don't need it all and you have tax-free cash available, then using that could be an option.
So the big tax-free benefit of JISAs is irrelevant for most.
NTPC was the first public sector company to launch tax-free bonds this year.
With approximately USD 18bn in tax-free money market assets under management as of 31 March 2015, Federated offers more tax-free state money market products than any other investment manager.
"If the person who dies is under 75, there will be no tax to pay at all." Mr Osborne was expected to say: "People who have worked and saved all their lives will be able to pass on their hard-earned pensions to their families tax-free. The children and grandchildren and others who benefit will get the same tax treatment on this income as on any other, but only when they choose to draw it down.
The answer I got from the HMRC was that your tax-free allowance is deducted from your State pension (which apparently is now called a benefit) and the amount left is what you are allowed to earn before you pay tax.
Getting to the zero percent tax bracket involves accumulating precisely the right amounts of dollars in each of the three basic types of accounts or buckets: taxable, tax-deferred and tax-free. When our clients contribute dollars to the first two buckets in a willy-nilly or haphazard way, they unwittingly prevent themselves from ever getting to the zero percent tax bracket.