Meaning of “purchase tax” in the English Dictionary

business-english dictionary

"purchase tax" in Business English

See all translations

purchase taxnoun [ C or U ]

uk us COMMERCE, TAX

a tax that is added to the price of something that people buy, but not to the price of basic goods:

In the UK VAT was introduced in 1973, replacing purchase tax.

(Definition of “purchase tax” from the Cambridge Business English Dictionary © Cambridge University Press)