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English definition of “offset”

offset

noun
 
 
/ˈɒfset/
[U] LAW, FINANCE the right to pay a person or organization less money than you owe them because they also owe you money: What is the position regarding the offset of one debt against the other?
[C] ACCOUNTING a payment that is used to reduce the effect of another payment: The Australian government has announced changes to its tax offset rules for overseas production.
[C or U] ENVIRONMENT, SOCIAL RESPONSIBILITY a payment that is made or an action that is done in order to pay for or reduce the harmful effect that something has on the environment: carbon offset You have the opportunity to purchase an offset when you book your flights.
(Definition of offset noun from the Cambridge Business English Dictionary © Cambridge University Press)
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