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English definition of “capital allowance”

capital allowance

noun [C]     (also investment allowance)
ACCOUNTING, TAX an amount of money that a business spends to buy buildings , equipment , vehicles , etc., which it can use to reduce the tax on its profits : A 100 % capital allowance is available for capital expenditure on scientific research , for example , for the purchase of a laboratory . → Compare depreciation allowance, writing-down allowance
(Definition of capital allowance noun from the Cambridge Business English Dictionary © Cambridge University Press)
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