Meaning of “basic rate” in the English Dictionary

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"basic rate" in Business English

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basic ratenoun [ S ]

uk us TAX

in the UK, the level of income tax that most people pay:

Index-linked certificates are worth 4.8% to those paying tax at the basic rate.
cut/increase/raise the basic rate The party has no intention of raising the basic rate of income tax at present.
basic-rate
adjective [ before noun ]

basic-rate taxpayers

(Definition of “basic rate” from the Cambridge Business English Dictionary © Cambridge University Press)