B2nounformalmoneypolitics
US/tækˈseɪ.ʃən/
UK/tækˈseɪ.ʃən/
the system by which a government collects money from people and businesses
In context
Many economists argue that high taxation discourages people from starting new businesses.
The party promised to reduce taxation on small companies if it won the election.
Taxation of online sales has become a major issue for local governments.
Words that go with taxation
adjective + noun
- high taxationHigh taxation leaves families with less money to spend.
- double taxationDouble taxation affects people who work abroad.
verb + noun
- reduce taxationThe government plans to reduce taxation next year.
- increase taxationVoters dislike leaders who increase taxation without explaining why.
noun + noun
- taxation systemThe taxation system is too complicated for most people.
noun + preposition
- taxation of incomeTaxation of income is the main source of state revenue.
Common mistakes
Incorrect:
He pays a lot of taxation every year.Correct: He pays a lot of tax every year.