set sth (off) against sth Meaning in the Cambridge English Dictionary
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Meaning of “set sth (off) against sth” in the English Dictionary

"set sth (off) against sth" in Business English

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set sth (off) against sth

phrasal verb with set uk   us   /set/ verb (setting, set, set)
ACCOUNTING to use or ​record one thing, especially the ​cost of something, in ​order to ​reduce or ​remove the ​effect of another: Costs of new ​equipment or ​machinery, such as a ​computer, can also be set against ​tax. The ​rules do not ​allowsurpluses over ​bookvalue in other ​parts of the ​business to be set off against ​reductions elsewhere.

set sth (off) against sth

phrasal verb with set uk   us   /set/ verb (setting, set, set)
TAX to say that an ​amount of ​money should be considered a ​cost of your ​business and that therefore you should not ​paytax on it: You can set off anything you ​spend on ​computerequipment against ​tax.
(Definition of set sth (off) against sth from the Cambridge Business English Dictionary © Cambridge University Press)
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