tax ‧ a ‧ tion /tækˈseɪʃ ə n/ BrE AmE noun [uncountable] formal
[ Word Family: noun : ↑ tax , ↑ taxation ; adjective : ↑ taxable , ↑ taxing ; verb : ↑ tax ]
1 . the system of charging taxes:
the government’s economic and taxation policy
direct taxation (=tax on income)
indirect taxation (=tax on things you buy)
2 . money collected from taxes:
higher levels of taxation