I. noun
COLLOCATIONS FROM OTHER ENTRIES
a budget/tax proposal (= a budget/tax plan )
▪
Criticism of the budget proposals was voiced by the International Monetary Fund.
a tax bill
▪
There are various ways you can reduce your tax bill.
a tax burden
▪
These changes will ease the tax burden for small businesses.
a tax increase
▪
The government had no choice but to impose a tax increase.
a tax loophole
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The government lost billions because of a tax loophole.
a tax rate
▪
People objected to higher property tax rates.
a tax threshold
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The Conservatives promised to help the lower paid by increasing the tax threshold.
capital gains tax
car tax
carbon tax
▪
carbon taxes on fossil fuels
Child Tax Credit
collect tax/rent/a debt
▪
The landlady came around once a month to collect the rent.
corporation tax (= tax that companies have to pay on their profits )
council tax
cut taxes/rates
▪
The government is expected to cut interest rates next month.
direct tax
estate tax
excise duty/tax (= the money paid as excise )
▪
excise duty on tobacco
exempt from...tax
▪
The interest is exempt from income tax .
exempted from...tax
▪
Charities are exempted from paying the tax .
file...tax returns
▪
Today is the deadline for Americans to file their tax returns .
green tax
high price/charge/tax etc
▪
If you want better public services, you’ll have to pay higher taxes – it’s as simple as that.
import taxes/duties/tariffs
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The US imposed huge import duties on products from Europe.
income tax (= tax that you pay on your income )
▪
The standard rate of income tax is to be cut by 0.5%.
income tax
indirect tax
inheritance tax
inspector of taxes
levy a tax/charge/fine etc (on sth)
▪
a new tax levied on all electrical goods
payroll tax
poll tax
price/rate/tax etc hikes
▪
Several airlines have proposed fare hikes, effective October 1.
progressive tax
regressive tax
rent/mortgage/tax arrears
▪
He was ordered to pay rent arrears of £550.
road tax
sales tax
stealth tax
tax allowance
▪
a new tax allowance
tax avoidance (= legal way of not paying tax )
▪
a tax avoidance scheme
tax avoidance
tax bracket
▪
It may put you in a higher tax bracket.
tax break
▪
tax breaks for small businesses
tax collector
tax cuts
▪
The President announced tax cuts.
tax deductible
▪
Interest charges are tax deductible .
tax disc
tax dodge (= a way of avoiding paying tax )
▪
Businesses are investing in tree plantations as a tax dodge .
tax dodge
tax evasion
▪
He is in prison for tax evasion .
tax evasion
tax exempt
tax exemption
▪
You qualify for a tax exemption on the loan.
tax exile
tax haven
tax incentives (= a reduction in tax, offered to people as an incentive )
▪
Tax incentives are provided for employees to buy shares in their own companies.
tax inspector
tax liability (= a legal responsibility to pay tax )
▪
The government is planning to increase the tax liability on company cars.
tax reform
▪
The Chancellor's proposals for tax reform met strong resistance in the Commons.
tax relief
▪
You can get tax relief on private health insurance premiums.
tax return
tax revenues
▪
an increase in tax revenues of 8.4%
tax shelter
tax year
tax/copyright/divorce etc law(s)
▪
an accountant who knows about tax law
tax/insurance/credit card etc fraud
▪
He’s been charged with tax fraud.
tax/ticket/debt/refuse collector
the rate of interest/pay/tax etc
▪
They believe that Labour would raise the basic rate of tax.
try/test/tax sb's patience (= make it difficult for someone to continue to be patient )
▪
The guy at the desk was beginning to try my patience.
value-added tax
windfall tax
withholding tax
Working Tax Credit
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
corporate
▪
They have not pumped up taxes; personal and corporate income taxes have remained at reasonable levels.
▪
According to Congress's Joint Committee on Taxation, corporate tax breaks in the 1995 fiscal year might reach 60 billion.
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He would end a corporate capital tax , privatize some government-owned corporations, tighten welfare rules and reduce trade-union powers.
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The corporate income tax base was broadened while the tax rate was reduced.
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An increase in the top corporate income tax rate to 36 percent from the current 34 percent.
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The cost would be offset in part from repeal of corporate tax breaks.
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The existence of a mark-up has to be taken into account when considering the response to a corporate tax .
▪
Recall from Chapter 7 that the corporate income tax entails a problem of double taxation.
direct
▪
After 1994, all the autonomies were allowed to keep 15 % of the direct income tax revenues attributable to their region.
▪
Then on March 22, 1765, Parliament in the Stamp Act imposed the first direct tax on the colonies.
▪
This points to shifting the emphasis away from direct tax on people's incomes and on to taxes on wealth or on spending.
▪
In 1294-7, it has been calculated, the laity and clergy together yielded £280,000 in direct taxes to the king.
▪
But the larger part is supposed to come from direct taxes .
▪
In contrast, direct taxes can only be changed at Budget time.
▪
We have already seen how, in both theory and practice, direct taxes on income affect incentives to work.
▪
What is the effect of the combination of direct and indirect taxes ?
federal
▪
They offer investors federal tax credits -- and, in some cases, matching provincial credits.
▪
That would push the top federal tax rate for these under-$ 60, 000 earners to 40 % or more.
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This was to be financed without raising federal taxes .
▪
The proposals surfaced after Congress decided to explore ways to overhaul the cumbersome federal tax system.
▪
By Jan. 1, 2000, there will be no state or federal taxes of any kind.
▪
Experts say there is a good chance Congress will eventually convert the decades-old federal income tax into something else.
▪
Exhibit 2. 1 summarizes the current federal corporate income tax rate.
▪
The 4. 3-cent a gallon tax was added on to the existing 14. 1-cent-a-gallon federal tax in 1993.
high
▪
However, that is not a good reason for trying to levy high tax rates that no-one can enforce.
▪
Some Democrats say it would require a relatively high tax rate near 20 percent to produce sufficient revenue.
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The whole country would like to know at what level of income they intend to increase the higher rate of tax .
▪
The communities then scramble to raise money -- turning to higher taxes .
▪
Distributions are subject to ordinary income tax , and taking too large a distribution could propel you into a higher tax bracket.
▪
We leave it to the Opposition to advocate higher taxes .
▪
Or would you prefer a return to high taxes and secondary picketing?
indirect
▪
Their logic is reflected in the kinds of indirect tax that are levied.
▪
So far we have discussed the impact of indirect taxes on allocative efficiency.
▪
In 1433 indirect taxes contributed about £27,000 perannum to a net revenue of £36,000.
▪
For these reasons, indirect taxes are usually regarded as a more flexible instrument of macroeconomic policy.
▪
However, others suggest that consumers are well aware of the impact of indirect taxes on the price level.
▪
It has contributed to the decline in direct portfolio investment as opposed to indirect investment through tax exempt institutions.
▪
What is the effect of the combination of direct and indirect taxes ?
▪
Although indirect taxes as a whole are regressive, there is some variation between different types of indirect tax.
local
▪
Income on any overseas assets backing this policy may be paid subject to a local withholding tax .
▪
Low local taxes are not always a recipe for electoral success.
▪
It also would generate up to $ 2 billion in federal, state and local royalty and tax payments.
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The leaflet is available free of charge from tax enquiry centres and local tax offices.
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City expansion has increased local property tax revenues and has thwarted some flight to suburbia.
▪
They demanded new schools, supported by local taxes and managed by locally elected bodies.
▪
The treasurer collects local taxes and invests city money until it is needed.
low
▪
As one goes further south, people will be paying lower regional taxes and will vote Conservative.
▪
Foreign money capitalized the long expansion that lower taxes helped to create.
▪
Income tax thresholds were raised from G$10,000 to G$48,000 with lower tax rates planned to offset the withdrawal of personal allowances.
▪
Republican voters say they want low taxes and prudent spending cuts.
▪
But lower taxes and a prudent approach to borrowing do not mean public spending fall; quite the reverse.
▪
Presumably, the student will have little other income, and therefore be in a low tax bracket.
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The government sets the local price of petrol absurdly low while imposing taxes of over 80% on the company's revenues.
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The Senate majority leader talked about a balanced budget, smaller government, lower taxes , and a strong foreign policy.
■ NOUN
allowance
▪
These include a capital gains tax cut, a 15% investment tax allowance and across-the-board tax rate cuts.
▪
Personal tax allowances are expected to be frozen and taxes on petrol, drink and tobacco raised.
▪
This could, of course, be extended to the whole range of non-personal tax allowances .
▪
The cardinal rule is: only register if your taxable income is less than your tax allowances .
▪
It offered married men a tax allowance of some one-and-a-half times the single person's allowance to which working wives were entitled.
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Employers' social security contributions were reduced by 4.3 percent from Jan. 1, 1993, and income tax allowances were reduced.
▪
Pressure is mounting for tax allowances on childcare.
▪
Because everybody claimed the allowances , the cost of increasing the value of the tax allowances was substantially increased.
base
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This decision is likely to be influenced by the age and tax base cost of the company's plant.
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If the economy is managed properly it can benefit us all with some impressive growth in jobs and tax base .
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The tax base in the suburbs is largely composed of single-family residences.
▪
Quotas are figured into land values and thus affect the tax base .
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The tax base , or rateable value, is the net annual value of the property occupied.
▪
The corporate income tax base was broadened while the tax rate was reduced.
▪
Such help to industry shrinks the tax base .
▪
Mayors inherited an eroding tax base and the loss of jobs.
bill
▪
This year's two community charges come to £656, while this year's council tax bill will amount to £517.
▪
Simpson recently paid two overdue tax bills of more than $ 706, 000.
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The council tax Bill exists because the poll tax was the disaster that so many hon. Members said it would be.
▪
If the family earns $ 100, 000, the tax bill drops by 22 percent.
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That may mean sizeable tax bills on employers' pension contributions for employees.
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The House version of the tax bill was 1, 379 pages long, the Senate version 1, 580 pages.
▪
It will mean a £50 cut per household on average council tax bills .
▪
Without even realizing, it runs up a payroll tax bill of $ 85, 000.
break
▪
This will also be the year when Woopies - well off older people - get a tax break .
▪
For this, the government gives the paper companies tax breaks .
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Savers must keep the account open for five years to qualify for the tax breaks .
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Companies with large property holdings, like oil and gas corporations, want the consumption taxes because those represent tax breaks .
▪
If all of the tax breaks are doing that much damage, go ahead and eliminate them.
▪
White House aides said Clinton will map proposed tax breaks specifically aimed at helping community college students.
▪
Any advantage that a tax break can achieve, a subsidy can accomplish just as easily.
▪
The market took off because of a simple tax break .
burden
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Immediate pressure on peasant living standards was relieved by the abolition of redemption dues and restraint of the tax burden .
▪
But tax harmonizing brings with it an implicit harmonization of spending levels, since total tax burdens must be basically similar.
▪
The total tax burden has risen only slightly.
▪
Connell notes that for individuals, the tax burden would shift from the wealthy to the middle class.
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The interim dividend is 2.5p, against 1.75p and earnings were 0.5p higher at 8.2p after a slightly lower tax burden .
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And to an extraordinary extent, diverse groups agree on what the maximum tax burden should be.
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Proper road prices would raise the motoring tax burden .
▪
Today the employer-employee payroll tax burden has hit a joint 15. 3 %, if you include Medicare.
car
▪
Read in studio Police have begun a campaign against car tax dodgers.
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The abolition of car tax is a good idea.
▪
Then the Chancellor helped the industry by abolishing car tax in his Autumn Statement.
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Mr Gould had gone to Mr Hoad's home in Gloucester to collect unpaid fines for parking and car tax .
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The cut in car tax and the increase in capital allowances will also help to boost confidence.
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It also calls for a higher price threshold for company car tax .
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This will benefit business directly, as will the abolition of the car tax .
▪
Mr Lamont said he had made clear he would recoup the cost when he abolished car tax .
code
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In the latter case you would need to get a new tax code number from your employer.
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An all-out campaign to truly simplify the tax code , and answer basic small business riddles, is long overdue.
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Plenty of obstacles, from tax codes to bureaucrats, remain.
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They blamed not the Internal Revenue Service but the tax code .
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In 1986, for instance, Dole supported an inheritance tax code that greatly benefited the Gallos.
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The commission did identify 60 areas where the tax code might be simplified.
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The real purpose of the tax code is to supply tax breaks for politicians to auction off to campaign contributors.
▪
With the incentives of the tax code , the law firms and corporations have become the new Versailles.
collector
▪
But with the tax collectors anxious to get their hands on every ha'penny, the Chancellor can not afford to be generous.
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Of course, the very concept of a popular tax collector is as oxymoronic as jumbo shrimp.
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But the rich will always be better at hiding from the tax collector than the poor.
▪
Also patron of bankers, book-keepers, customs agents, security guards, and tax collectors .
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Do we exclude them in the same way as tax collectors etc.
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Pollution Tax: Many of the unemployed income tax collectors will be retrained as Pollution Inspectors.
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Playing hide and seek with the tax collector is a popular game.
▪
Within this society their were a number of groups considered as outcasts, of which were included tax collectors .
concession
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They would enjoy major tax concessions , including 50 percent rebates in their first year and 25 percent in their second.
▪
How is the free-market economy to be reconciled with continued large-scale tax concessions for house mortgages and private pensions?
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Forestry companies no longer granted tax concessions have been trying to offload their holdings.
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It also received a host of tax concessions .
▪
Mr. Jackson I have already referred to the tax concession in the 1990 Budget.
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Market-distorting activities arise from state aids such as subsidies, tax concessions , and other financial help given to domestic companies.
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Macleod was attacked by both liberals and conservatives in the Legco for failing to provide sufficient tax concessions to middle income earners.
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Private pension scheme tax concessions grew as part of deliberate policy.
credit
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Simultaneously, tax credits can target state support to approved groups, and promote socially desirable economic behaviour.
▪
It criticized Clinton for vetoing the 1996 Republican budget that provided for a $ 500-per-child tax credit .
▪
President Bill Clinton vetoed that, and proposed instead some small tax credits and tax deductions for higher education.
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These ranged from providing training to workplace mentors and supervisors to tax credits for the wages paid to school-to-work participants.
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Firstly, in 1986 there was a reform of Federal Insurance tax; congress dropped tax credit for individual contributions.
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That bill includes a host of other provisions, including simplified pension rules and tax credits for hiring disadvantaged youth.
▪
He also said that the Conservatives would keep the working families tax credit , but would reform it.
▪
Two years ago the state also eliminated the tax credit cap on research and development.
cut
▪
He has also made modest tax cuts of his own in New York City.
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When the tax cut was going through Congress, the figures seemed too unimaginable to really resonate.
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And to top it all, there were tax cuts too.
▪
He also said Republicans would make several attempts to pass tax cuts aimed at businesses and the middle class.
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However, we seem more intent on using further tax cuts to prolong the party.
▪
Instead, Dole proposed a 15 percent tax cut .
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That would mean using all the fruits from economic growth for public services rather than tax cuts .
▪
And he repeated his plan for a $ 500 million state tax cut .
evasion
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Two separate counts of tax evasion were filed against their son and daughter.
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Each count of felony tax evasion can put you behind bars for 5 years with a $ 100, 000 fine.
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The Commission argued that this was the best system because it would avoid both tax evasion and double taxation.
▪
Later he pleaded guilty to mail fraud and tax evasion in connection with defrauding Rose clients of nearly $ 400, 000.
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He is a vain, devious showman accused of bribery, tax evasion , fraud and mafia connections.
▪
While serving a federal prison sentence for mail fraud and tax evasion , &038;.
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Far be it from us to condone tax evasion .
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Capone came back downtown and had things his own way until the federal government imprisoned him for tax evasion .
exemption
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Establishing such enclaves would inevitably encourage the immigration of larger companies seeking tax exemptions .
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This firm is assisting the organization in resolving problems related to its tax exemption .
▪
Instead, you can use your annual capital gains tax exemption-currently £7,200-to shelter the returns from the taxman.
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The result was that the government created a paper blizzard of promissory notes and tax exemptions .
▪
For basic-rate payers, the tax exemption will not compensate for the low rate.
▪
In 1920, Austen Chamberlain transformed the system by allowing tax exemptions to be claimed nomatterhow big the taxpayer's income.
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Increased tax exemptions for gifts to museums would also be very helpful.
haven
▪
Even so-called tax havens may fail to live up to their privileged reputation.
▪
The Bill would make it illegal to carry on business with tax havens .
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Another tax haven to emerge recently is Western Samoa.
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For the same reason, I fear that an accountant's expert knowledge of tax havens may once again be a saleable commodity.
▪
Tax authorities tend to subject tax haven operations to close scrutiny.
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Some tax havens combine these advantages with an extensive tax treaty network.
incentive
▪
Indiana has sometimes spent too much on tax incentives to lure companies inside its borders.
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The tax incentive is applied generally to all adoptions, foreign and domestic.
▪
This helped persuade the Government to take action altering tax incentives for planting in the 1988 Budget.
▪
Dole is focusing on long-run growth and tax incentives .
▪
We have introduced new tax incentives for savings.
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Encouragement in this direction was to be provided by tax incentives and state-subsidized research and development.
▪
In previous chapters we have discussed tax incentives , competition policy, and industrial policy.
▪
It also claims that emissions could be stabilized by 1994 through the use of new technologies and tax incentives for fuel-efficient cars.
income
▪
I pay income tax at the basic 25 percent rate.
▪
Other potential trouble spots for Forbes include his refusal to release his personal income tax returns, as Dole has done.
▪
A comparison with the total income tax due will disclose either an over or under payment of income tax.
▪
Taylor attacked a proposal by Forbes to replace the current graduated income tax with a flat tax of 17 percent.
▪
If rebates are extensive this takes on some aspects of an income tax too.
▪
They might remember also that without bipartisan accommodation the graduated income tax never would have become a constitutional amendment.
▪
Lord Howe said increases in basic rate income tax were not unthinkable.
▪
The policies which had the most direct impact concerned income tax .
increase
▪
Gradually Congress was won over to the need for tax increases and cuts in public expenditure.
▪
Reduce the deficit through tax increases and some spending restraints.
▪
Mr Dorrell said he hoped a gradual tax increase would make the principle more acceptable to drivers.
▪
User fees have become ever more popular as resistance to tax increases has mounted.
▪
The Budget Resolution contained no tax increase and no tampering with Social Security.
▪
Mr Greenspan also said it would be wrong to pay for the war with a tax increase or surcharge.
▪
But many Republican politicians worry that voters would view any change as a tax increase .
inheritance
▪
Abolish the present inheritance tax and make recipients pay on gifts above a certain band as income.
▪
The same ordinarily holds true of payroll and inheritance taxes .
▪
Also, where there is property located outside the United Kingdom, no inheritance tax will be payable.
▪
In 1986, for instance, Dole supported an inheritance tax code that greatly benefited the Gallos.
▪
The modern form of death duties is the inheritance tax .
▪
But the loudest gripes concerned my criticism of the legislation to phase out inheritance tax .
▪
Property left to a surviving spouse remains, as before, free of inheritance tax .
▪
Thus inheritance tax is concerned with gratuitous transactions. 5.
law
▪
Gaps when they are found in our tax laws are usually speedily filled.
▪
Actually, 1995 was the lowest year for California tax law changes that I can remember.
▪
The 12 also chipped away at one of the other stumbling blocks, the need to harmonise tax laws across the Community.
▪
In the tax law , it is said, an ounce of prevention is worth about a million dollars of cure.
▪
Federal tax law bars use of such funds to further a political agenda.
▪
That statement was silent on the question of whether Gingrich deliberately misled the committee or skirted tax law .
▪
Federal tax law covered 16 pages then.
▪
In 1774 Backus wrote Samuel Adams a letter of protest as he watched constables arrest Baptists for offenses against tax laws .
liability
▪
The losses suffered during the start-up phase of a business can be used to reduce the tax liabilities of the owners.
▪
These are non-statutory rules made by the Inland Revenue stipulating when full tax liability will not be enforced.
▪
Individuals owning their own businesses must compare the expected tax liability of a proprietorship or partnership with the liability of a corporation.
▪
The company's corporation tax liability is due on 1 October 1995 and its returns and accounts by 31 December 1995.
▪
Interest rates also reflect the tax liability associated with the income attached to the ownership of particular securities.
▪
By balancing profits and loss in this way, total tax liability may be reduced.
▪
Many high-income people can reduce their income tax liabilities very substantially by availing themselves of this loophole.
poll
▪
He was the leader of the Labour controlled council which came into conflict with the the Government over poll tax last year.
▪
Surely all poll tax cases should be stopped until the matter has been sorted out.
▪
Like the poll tax , the council tax would also take account of the number of adults in each household.
▪
What should replace the poll tax -; should the citizens not decide?
▪
A large number of people seem to share the Prime Minister's belief that the poll tax is already abolished.
▪
They criticise the poll tax , but when they were in office the rates went through the roof.
▪
The poll tax , he said, is central to change and to improving the inner cities.
▪
The arrangements announced yesterday to ease the introduction of the poll tax are symptomatic of a less rigorous approach.
property
▪
A naked property tax would be simpler, but it would not be as fair.
▪
Funding would come from sales taxes , property taxes and fees the state would turn over to the counties.
▪
A property tax is essentially unfair unless so many qualifications are built into it that it becomes complicated and expensive to administer.
▪
For example, even when land is sold, the property tax is not likely to be shifted.
▪
If we are to have a property tax , it must be logical, and the logic is clear.
▪
It could start by reducing the property tax rate, charging everyone less, including Tucson residents.
▪
The property tax will be levied, on the predictable base of immovable property, to yield the required annual debt repayments.
▪
With bonding authority, you can sell bonds for projects and then pay off the bonds with a local property tax .
rate
▪
Similar to covenant payments, the gift is made net of basic rate tax .
▪
Interest is paid quarterly in January, April, July and October; basic rate tax is deducted.
▪
This means that unless you are a higher rate tax payer, there is nothing else for you to pay.
▪
Those with earnings just above the tax threshold bore the heaviest burden of the flat rate tax as a proportion of income.
▪
Mr. Allason I congratulate my right hon. and learned Friend on the abolition of composite rate tax .
▪
The tax credit which accompanies a dividend matches the basic rate liability but the trustees pay additional rate tax of 10%.
▪
The rate of interest on the bonds is quoted net of basic rate tax .
reform
▪
But such concessions would undermine the very principles on which the case for tax reform is based.
▪
I came down on the side of tax reform .
▪
Others are much more interested in microeconomic questions, like tax reform , local-government finance and the role of subsidies and benefits.
▪
In the late 1980s the Conservative government increased the pace of its tax reform .
▪
He would personally lead the right for tax reform .
▪
The intention is to indicate the degree of ambiguity and the general lack of information that can characterize debate on tax reform .
▪
Two years ago, an independent bipartisan panel on tax reform chaired by Sen.
relief
▪
You can get a wife's earned income tax relief on the part of your pension which you earned from your own contributions.
▪
In 1990 the Gift Aid Scheme allows tax relief on single cash gifts to charities.
▪
So the single person now receives the same tax relief on a £30,000 mortgage as a couple.
▪
Budget the cost through fixed monthly payments and - depending on the project - offset some of the cost through tax relief .
▪
He is also expected to announce tax relief for overseas donations of existing drugs by pharmaceutical companies.
▪
The Chancellor has also cut back tax relief on relocation packages for employees.
▪
The outcome is foreshadowed by the radio speeches, in which he devoted more attention to tax relief than deficit reduction.
▪
However, he blew cold again on home loan borrowers by reducing the rate of mortgage tax relief by five full points.
return
▪
I completed a tax return but heard nothing more.
▪
One beauty of a flat tax supposedly is that tax returns would be simple.
▪
Reclaiming this tax involves filling in a tax return , including details of your salary received and the tax deducted.
▪
S corporation shareholders can also claim the losses of their corporations on their own tax returns .
▪
She is a 61-year-old housewife and does not receive a tax return .
▪
Even the math behind a simple tax return carries assumptions that are open to challenge.
▪
If your child has already paid tax , he or she must complete a tax return to receive a rebate.
▪
Other potential trouble spots for Forbes include his refusal to release his personal income tax returns , as Dole has done.
revenue
▪
If the government wishes to raise tax revenue in order to subsidize the poor, it should levy a tax on films.
▪
Forecasts of state tax revenue are beginning to produce mild surprises on the upside.
▪
Government need tax revenue to pay for public goods and to make transfer payments to the poor.
▪
Variety of Taxes Governments can raise tax revenue only if they can identify the activities on which the tax rates apply.
▪
If they do not change, tax revenue may fall anyway, as business leaves for friendlier haunts.
▪
The king had at his disposal, not tax revenue , but plunder and tribute amassed through warfare.
▪
Central government clearly earns a substantial tax revenue from sport, both indirectly, on expenditure, and directly, on incomes.
▪
Beginning from a zero rate, a small increase in the tax rate will yield some tax revenue .
system
▪
Table 7.2 shows very clearly what a proportionately high price the poor pay for their social services through the tax system .
▪
The proposals surfaced after Congress decided to explore ways to overhaul the cumbersome federal tax system .
▪
It was our colonial system which created export-based farming and the tax systems which continued the depopulation of the villages.
▪
The objective here is to introduce the fundamental characteristics of the tax system .
▪
Some of these taxes will be local, but some will come from central government revenue raised through the national tax system .
▪
Our tax system has shifted relentlessly toward taxes that allow no deductions for family dependents.
▪
If it were abolished, administration of the poll tax system would be easier.
▪
That unabashedly and unmistakably should be the purpose of any Republican tax system for the years ahead.
year
▪
The paper also considers the possibility that the self-employed should prepare tax accounts for the tax year .
▪
The publishers wanted to deliver the books before the end of their tax year , which was imminent.
▪
This sum is then included as part of a claimant's taxable income during the relevant tax year .
▪
A combination of the two processes means that you can use seven years of unused tax relief in one tax year.
▪
This will need to be done before the start of the tax year , i.e. before 6 April.
▪
It increases with income and with the passage of months during the tax year .
▪
In this current tax year , children can earn up to £4,385 before tax is levied.
▪
By the end of the tax year , National Savings had invested £39.7 billion-another record figure.
■ VERB
collect
▪
His cadres collect taxes and impose justice.
▪
Local officials collect no taxes from federal property and large tax-exempt institutions and are forbidden to raise taxes on commuters.
▪
The Revenue will have to collect tax from each individual partner.
▪
Atlanta-based Delta, though, says it thinks collecting the tax retroactively will be up to the government.
▪
There is, in theory, no reason why the state should not collect a great deal more tax than it does.
▪
States collect taxes and subsume many of the responsibilities of governing from the county.
▪
Republics collect taxes but are refusing to pass them on to the central government.
▪
It will have promised its elderly more than it can collect in taxes from those who are working.
impose
▪
The legislator, for example, has reason to impose a certain tax .
▪
In imposing taxes for state purposes, they are not doing what Congress is empowered to do.
▪
The way to raise energy prices is to impose a tax .
▪
Would it be a valid objection to an Order made under this statute that it imposes a tax ?
▪
The District Court believed that it had no alternative to imposing a tax increase.
▪
It would impose taxes on business and individuals which would discourage enterprise and discourage people from trying to work hard.
▪
The District Court therefore abused its discretion in imposing the tax itself.
introduce
▪
The proposal is not to introduce a wealth tax under the form that it has been proposed elsewhere.
▪
A substantial tax on marriage has been introduced into our tax code for many couples. 5.
▪
He can, of course, introduce more taxes in his combined revenue and spending exercise in November.
▪
The majority Nationalists introduced an alternative tax bill Tuesday to block the opposition bill.
▪
For he went on to introduce new taxes .
▪
But the rebels introduced an equitable tax system and an agrarian reform program, distributing land to poor villagers.
▪
We have introduced new tax incentives for savings.
▪
There would be no reason to have introduced the poll tax and no reason for another arbitrary and unfair property tax.
levy
▪
If the government wishes to raise tax revenue in order to subsidize the poor, it should levy a tax on films.
▪
A unanimous vote of the Board of Supervisors is required to levy such a sales tax , which doesn't seem likely.
▪
Now those landowners have become greedy and demand high rents - and we help to exploit the peasants by levying crippling taxes .
▪
The study does propose levying a $ 3 tax per departing passenger at Lindbergh, starting in 1997.
▪
However, that is not a good reason for trying to levy high tax rates that no-one can enforce.
▪
Legislative acts that levied taxes and defined benefits have never contained any provisions for investing in assets to provide future benefits.
▪
Domestic rates will be abolished and in their place local authorities will levy a poll tax .
▪
However it does not levy a general sales tax; sales taxes are the bread and butter of most state governments.
pay
▪
The firm has to pay 1050 in corporation tax on the balancing charge and 5340 in capital gains tax.
▪
We are not paying any taxes and keep afloat only with the help of barter deals.
▪
They work all day and pay tax on the money they earn.
▪
The citizens of almost all other major developed economies pay higher taxes than we do.
▪
Another way to measure an individual's capacity to pay tax is the amount of capital assets he or she may have.
▪
But I never shoplift, and I pay my taxes .
▪
They suffer as it is, and now may have to pay tax on money they deserve.
▪
Second, you must file and pay all taxes owing for the next five years in a timely matter.
raise
▪
In 1996, a further modification to the system was agreed, giving regional governments important new responsibilities to raise tax revenues.
▪
The Front had promised victory and had raised taxes to pay for it.
▪
If the government wishes to raise tax revenue in order to subsidize the poor, it should levy a tax on films.
▪
It would also raise the payroll tax 1. 52 percentage points.
▪
In my local authority it is estimated that only 9 percent. of overall income will be raised by the council tax .
▪
How could the federal government make up the revenue drain that would result to avoid raising other taxes or increasing the deficit?
▪
It has become a truism of modern politics that people will never vote to raise their taxes .
▪
If they replace those benefits with higher wages, that would raise the income tax bill for workers.
reduce
▪
Table 16-2 shows that the first Thatcher government was able to reduce marginal tax rates substantially, especially for the very rich.
▪
Forbes' platform makes sense in a state on a mission to eliminate the income tax and substantially reduce the property tax.
▪
One key task was to reduce tax rates.
▪
The losses suffered during the start-up phase of a business can be used to reduce the tax liabilities of the owners.
▪
Capital allowances reduce a company's tax liability and thus improve its after-tax cash flow.
▪
Republicans also offered to reduce their tax cuts by about a fourth.
▪
Labour regards reducing taxes and defending ourselves as equally sinful.
▪
The deficit also is growing because of an economic slowdown that has reduced the amount of taxes collected, government officials say.
PHRASES FROM OTHER ENTRIES
back rent/taxes/pay etc
▪
A former landlord said she was still owed several thousand dollars in back rent.
▪
Dave Escott bought at the height of the boom, and any back rent will only add to his negative equity.
▪
He owes $ 10, 000 in back taxes.
▪
Homar sued for reinstatement of his job, back pay and money damages.
▪
I needed a release from the tax office showing that I owed no back taxes.
▪
Look, she said, he's left, bolted, owing three months' back rent.
▪
Next: What to do when you can not afford to pay back taxes.
▪
The Internal Revenue Service has been battling him for years for back taxes and penalties related to one venture.
be subject to a rule/law/penalty/tax etc
income/tax/age etc bracket
▪
Dataquest said only 12 percent in this income bracket owned computers.
▪
In addition they estimated the implied income tax brackets associated with each dividend payout level.
▪
It's all to do with the £19,250 tax bracket and engines below 2 litres.
▪
Jack Kemp would have to recommend that tax brackets be compressed to as low as 10 percent to dull their allure.
▪
Name the ethnicity, tax bracket or wardrobe, and they were there in full force.
▪
The key is, does your tax bracket justify buying munis?
▪
Together, that amounts to an annual tax saving of up to £1,000, compared to cars in a higher tax bracket .
▪
Why should you and I be in the same tax bracket as Steve Forbes?
punitive taxes/price increases etc
set sth against tax
▪
Parents can also set costs against tax.
set sth off against tax
tax refund
▪
Delta Air Lines says it is no longer processing airline excise tax refunds for people who bought tickets with a credit card.
▪
Imagine if only 13 percent of the adults who are owed tax refunds this year got them.
▪
The agency issues more than $ 130 billion in tax refunds each year.
▪
To get direct deposit of your tax refund , file Form 8888 with your return.
▪
You said when you get your income tax refund .
tax/fare dodger
▪
And he identified poll tax dodgers as part of the problem.
▪
And the trawl for tax dodgers also threw up other misdemeanours.
▪
On March 6 pay bonuses were announced for all soldiers and an amnesty was declared for deserters and draft dodgers .
▪
Read in studio Police have begun a campaign against car tax dodgers .
▪
The government, it seems, is counting heavily on getting money from tax dodgers .
EXAMPLES FROM OTHER ENTRIES
▪
Although the tax on cigarettes has doubled in the past two years, sales are still going up.
▪
Consumers are angry that the tax on petrol has gone up yet again.
▪
He failed to report and pay income tax on a portion of his income.
▪
He pleaded guilty to charges of fraud and tax evasion.
▪
I made over $600 a week, which was around $450 after tax .
▪
proposals for an increase in taxes to pay for medical care
▪
Sales tax in the state is 8%.
▪
The Chancellor said he would cut income tax by 2 pence in the pound.
▪
The city will have to raise taxes to pay for the roads.
▪
The Republicans promised to reduce taxes before the last election.
EXAMPLES FROM CORPUS
▪
Big business has further reduced its contributions by ingenious tax avoidance strategies.
▪
Clinton is already banking on the savings to make possible a $ 98 billion tax cut over five years.
▪
Employers' social security contributions were reduced by 4.3 percent from Jan. 1, 1993, and income tax allowances were reduced.
▪
He will advise you on the inheritance tax your estate might incur and ways in which this may be reduced.
▪
How could the federal government make up the revenue drain that would result to avoid raising other taxes or increasing the deficit?
▪
The package will also cut the securities trading tax to 0. 21 percent from 0. 30 percent.
▪
Weber said tax reform could have been a good issue for the Republicans this year.
II. verb
COLLOCATIONS FROM CORPUS
■ ADVERB
heavily
▪
Piedmont, the most economically advanced part of the state, was also the most heavily taxed .
▪
The Passport Office has been heavily taxed with a backlog of requests from the recent government closings.
only
▪
In other words, the Lords said, Parliament intended that teachers should be taxed only on the marginal cost.
▪
Money we spend on goods and services gets taxed only once, when we earn it.
▪
A S$200,000 taxable income, for example, is only taxed at 17.05%.
▪
It would be equally ridiculous to think of taxing only unemployed workers to finance the unemployment compensation payments which they receive.
▪
California had worked out agreements with states such as Oregon and Arizona for each to tax only its own residents.
■ NOUN
basis
▪
Orders for payment by the plaintiffs of costs to be taxed on the standard basis have already been made in this action.
▪
During the litigation orders were made for certain of the defendants' costs to be taxed on a standard basis .
benefit
▪
Dole voted to tax the benefits of only upper-income people.
car
▪
I just hope they don't tax company cars any more than they already have done.
▪
The Conservative government has made a half-hearted attempt to tax company cars - half-hearted because it fears upsetting natural Tory voters.
company
▪
The Isle of Man currently does not tax non-resident holding companies .
gain
▪
The gain may be taxed at the basic rate of income tax therefore or at the higher rate.
▪
Capital gains are not taxed in the year they occur but when they are realized.
government
▪
Now the Government wants to tax my pension.
▪
The federal government does not tax cities, states or counties.
▪
For the euro to work effectively, it requires strong co-ordination between interest rates and how governments tax and spend.
▪
A draft urged governments to tax up the price of tobacco to discourage its use.
▪
Páll tells me that no one catches puffin any more, not since the government tried to tax the hunt.
▪
Then came the Government , determined to tax it.
▪
Most governments tax the profits of multinationals where firms report them as earned.
▪
Now the Government plans to tax people like myself who are on invalid-ity pensions.
income
▪
Thus, the income could not be taxed upon the taxpayer, under this head.
▪
The first $ 5, 000 of income is taxed at 20 percent.
▪
The purchaser will not necessarily wish to be paid as if the income had been taxed .
▪
But the key difference, according to Buchanan and Gramm, is that investment income would not be taxed under Forbes.
▪
The income arising is taxed at 10%.
▪
Some Republicans and many Democrats have attacked the proposal as favoring the rich, because investment income would not be taxed .
▪
Each individual is granted allowances or exemptions that reduce the total amount of income liable to tax .
▪
A chief question is whether all types of income should be taxed .
money
▪
Many overseas jurisdictions do not tax expatriates on money held offshore, so the gains may therefore not be taxed at all.
▪
True to its nature, California is considered the first to tax athletes for the money they earned while in-state.
percent
▪
The first $ 5, 000 of income is taxed at 20 percent .
▪
That includes capital gains income from the sale of stocks and other investments, now taxed at 28 percent .
▪
Businesses are taxed at 35 percent .
power
▪
Handing over the power to tax and spend means handing over the power to govern.
▪
But the power to tax also is the lifeblood of powerful manipulators of the political system.
▪
Local authorities can not be independent of central government unless they have an adequate power to tax .
▪
It could also be argued that the power to tax should be assigned a value in a governmental balance sheet.
profit
▪
The election avoids the cessation and commencement bases applying in assessing profits to tax when a person leaves or joins a partnership.
▪
Corporate profits are taxed at the corporate rate, regardless of the individual income of the owners.
rate
▪
We don't want a party that believes the rich and poor should be taxed at the same rate .
▪
Corporate profits, however, are taxed at the cOrpOrate rate independently of the individual Owners' income.
▪
Amounts over this are taxed at a single rate of 40 percent.
▪
The gain may be taxed at the basic rate of income tax therefore or at the higher rate.
▪
Recall from Chapter 2 that salary payments above the wage base are taxed at a combined rate of 2. 9 percent.
▪
The benefits paid from the fund are taxed at the rate appropriate to the pensioner's circumstances.
state
▪
How far does the knowledge that the state will tax away high salaries deter people from entering high-earning and demanding jobs?
▪
The son could not see why the state should tax the schoolmaster to support the priest, but never vice versa.
PHRASES FROM OTHER ENTRIES
back rent/taxes/pay etc
▪
A former landlord said she was still owed several thousand dollars in back rent.
▪
Dave Escott bought at the height of the boom, and any back rent will only add to his negative equity.
▪
He owes $ 10, 000 in back taxes.
▪
Homar sued for reinstatement of his job, back pay and money damages.
▪
I needed a release from the tax office showing that I owed no back taxes.
▪
Look, she said, he's left, bolted, owing three months' back rent.
▪
Next: What to do when you can not afford to pay back taxes.
▪
The Internal Revenue Service has been battling him for years for back taxes and penalties related to one venture.
be subject to a rule/law/penalty/tax etc
income/tax/age etc bracket
▪
Dataquest said only 12 percent in this income bracket owned computers.
▪
In addition they estimated the implied income tax brackets associated with each dividend payout level.
▪
It's all to do with the £19,250 tax bracket and engines below 2 litres.
▪
Jack Kemp would have to recommend that tax brackets be compressed to as low as 10 percent to dull their allure.
▪
Name the ethnicity, tax bracket or wardrobe, and they were there in full force.
▪
The key is, does your tax bracket justify buying munis?
▪
Together, that amounts to an annual tax saving of up to £1,000, compared to cars in a higher tax bracket .
▪
Why should you and I be in the same tax bracket as Steve Forbes?
punitive taxes/price increases etc
tax refund
▪
Delta Air Lines says it is no longer processing airline excise tax refunds for people who bought tickets with a credit card.
▪
Imagine if only 13 percent of the adults who are owed tax refunds this year got them.
▪
The agency issues more than $ 130 billion in tax refunds each year.
▪
To get direct deposit of your tax refund , file Form 8888 with your return.
▪
You said when you get your income tax refund .
tax/fare dodger
▪
And he identified poll tax dodgers as part of the problem.
▪
And the trawl for tax dodgers also threw up other misdemeanours.
▪
On March 6 pay bonuses were announced for all soldiers and an amnesty was declared for deserters and draft dodgers .
▪
Read in studio Police have begun a campaign against car tax dodgers .
▪
The government, it seems, is counting heavily on getting money from tax dodgers .
EXAMPLES FROM OTHER ENTRIES
▪
Company profits are currently taxed at 34%.
▪
The rich are supposed to be taxed at a higher rate than the poor.
EXAMPLES FROM CORPUS
▪
Forbes, who is calling for a 17 percent flat rate, would not tax dividends, interest or capital gains.
▪
No, it didn't tax your brains at all.
▪
Parts of the economy need more spending in order to sustain profits, but all need to be taxed less.
▪
There were alarming reports that retired persons on fixed incomes were on the brink of being taxed out of their homes.