taxation

  

Definition

A means by which governments finance their expenditure by imposing charges on citizens and corporate entities.

Governments use taxation to encourage or discourage certain economic decisions. For example, reduction in taxable personal (or household) income by the amount paid as interest on home mortgage loans results in greater construction activity, and generates more jobs. See also taxation principles.


Use taxation in a sentence

  • The rate of her taxation increased as her promotion provided her with a huge boost in income, thereby causing her to owe more to the government to fund things such as schools.

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  • A tax on tea is an unacceptable taxation to the new colonist from the British and will not be tolerated by any means which so of course lead them to construct the event of the Boston tea party.

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  • There was taxation without representation occurring which is one of the main contributing factors to the United States of America being born.

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