basic rate Meaning in the Cambridge English Dictionary
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Meaning of “basic rate” in the English Dictionary

"basic rate" in Business English

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basic ratenoun [S]

uk   us   TAX
in the UK, the ​level of ​incometax that most ​peoplepay: Index-linked ​certificates are ​worth 4.8% to those ​payingtax at the basic ​rate.cut/increase/raise the basic rate The ​party has no intention of ​raising the basic ​rate of ​incometax at ​present.
basic-rate
adjective [before noun]
basic-rate ​taxpayers
(Definition of basic rate from the Cambridge Business English Dictionary © Cambridge University Press)
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