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English definition of “capital transfer tax”

capital transfer tax

noun [S or U]
 
 
( abbreviation CTT)
TAX, PROPERTY in the UK, a tax paid on any property, money, and other assets that are given to someone. This tax was replaced by inheritance tax in 1986: This gift was subject to capital transfer tax.
(Definition of capital transfer tax from the Cambridge Business English Dictionary © Cambridge University Press)
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