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consumption tax

a tax, as a sales tax, levied on consumer goods or services at the time of sale.
Origin of consumption tax
1900-05 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for consumption tax
  • Imagining a consumption tax without similar exceptions is equally incredible.
  • There are many different ways to implement a consumption tax, but for simplicity think about a national sales tax.
  • Because this particular breed of consumption tax is extraordinarily efficient at raising revenues.
  • The key difference between income tax and consumption tax has to do with the treatment of savings and investment.
  • Anyone wanting to eat into their savings in later tax periods is taxed by the consumption tax.
  • Rather than targeting financial speculation, it would essentially be a consumption tax.
  • At present the public appears ambivalent: polls suggest mixed feelings on both free trade and a higher consumption tax.
  • He is also considering whether to raise the consumption tax to help pay for the clean-up.
  • One would allow an unlimited exemption for saving, in effect turning the current income tax into a consumption tax.
  • Additionally, a consumption tax and value-added tax is added for gasoline and diesel fuels.

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