purchase tax - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “purchase tax”

purchase tax

noun [C or U]
 
 
COMMERCE, TAX
a tax that is added to the price of something that people buy, but not to the price of basic goods: In the UK VAT was introduced in 1973, replacing purchase tax. →  Compare sales tax , value-added tax
(Definition of purchase tax from the Cambridge Business English Dictionary © Cambridge University Press)
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