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English definition of “writing-down allowance”

writing-down allowance

noun [C]     ACCOUNTING, FINANCE, TAX
the percentage of the value of assets that a company can include in its profit calculations for a particular period to reduce the amount of tax it pays: The writing-down allowance for most plant and machinery purchases is 20%.
(Definition of writing-down allowance noun from the Cambridge Business English Dictionary © Cambridge University Press)
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