Words / C1

tak-SAYSHUN/tækˈseɪʃn/

Taxation is the system of charging tax, or tax considered as a whole: taxation policy, a change in taxation. Tax is the everyday/shorter noun; a levy is a named charge; taxpayer (this batch) is the person who pays. Do not hide a liability in a prospectus footnote.

Meaning

The system of charging taxes, or the taxes charged.

Examples

• “Taxation of the summer school is a finance minute, not a footnote in the prospectus.”
• “Tax is everyday. Revenue can mean the take. Duty is often on goods. A prospectus sells a course. Finance minutes name the liability. Small print under a smiling photograph is not a tax treatment.”

Good to know

The charging of tax / tax as a system. Everyday: tax. Person: taxpayer (this batch). A prospectus footnote is not a finance minute.

Near in meaning

tax

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