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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 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)
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“basic rate” in Business English

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A bunch of stuff about plurals
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