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

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English definition of “tax liability”

tax liability

noun
 
 
TAX
[C] an amount of tax that a person or business must pay: The company had to raise €5m to meet a tax liability. Shareholders may incur a tax liability upon the sale or redemption of shares of a Fund
[U] a situation in which tax must be paid on something: A percentage of approved child care costs can be paid by employers without any tax liability for them or employees.
(Definition of tax liability from the Cambridge Business English Dictionary © Cambridge University Press)
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