follow Dictionary.com

Love words? Sign up for our Word of the Day!

consumption tax

noun
1.
a tax, as a sales tax, levied on consumer goods or services at the time of sale.
Origin
1900-1905
1900-05
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source
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.

Word of the Day

Difficulty index for consumption tax

Few English speakers likely know this word

Word Value for consumption

17
23
Scrabble Words With Friends