capital transfer tax Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “capital transfer tax” in the English Dictionary

"capital transfer tax" in Business English

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capital transfer taxnoun [S or U]

uk   us   ( abbreviation CTT)
TAX, PROPERTY in the UK, a ​taxpaid on any ​property, ​money, and other ​assets that are given to someone. This ​tax was ​replaced by inheritancetax in 1986: This ​gift was ​subject to ​capitaltransfertax.
(Definition of capital transfer tax from the Cambridge Business English Dictionary © Cambridge University Press)
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