personal exemption Meaning in the Cambridge English Dictionary
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Meaning of “personal exemption” in the English Dictionary

"personal exemption" in Business English

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personal exemptionnoun [C]

uk   us   US ( UK personal allowance)
TAX the ​amount of ​income you can ​earn each ​year before ​payingtax: The ​personalexemption for all ​taxpayers has been ​increased by $200 to $2,600.
(Definition of personal exemption from the Cambridge Business English Dictionary © Cambridge University Press)
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