taxation
/takˈseɪʃ(ə)n
/noun [mass noun]
1The levying of tax: the progressive nature of taxation [as modifier]: a taxation system...
- Income tax rate will not be increased and the progressive taxation system will be preserved.
- Tax experts have been quick to point out the legitimacy of the Irish taxation system.
- In effect, while not a tax, zakaah seems to be a more equitable form of levy than taxation on income.
1.1Money paid as tax: direct taxation was low it should be financed out of taxation...
- These assets were paid for by our forefathers through money raised through local taxation.
- It's vital we reform local democracy so people regard local taxation as money well spent.
- Tax on capital gains provides an incentive to place capital in the member country with the lowest level of taxation.
Origin
Middle English (in the sense 'the assessment of a penalty or damages'; compare with tax): via Old French from Latin taxatio(n-), from taxare 'to censure, charge'.