Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

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)
What is the pronunciation of tax liability?
Add Cambridge dictionaries to your browser to your website

Word of the Day

scrumpy

an alcoholic drink made from apples

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More