Meaning of “tax deduction” in the English Dictionary


"tax deduction" in Business English

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tax deductionnoun [ C ]

uk us TAX

an amount or cost that can be subtracted from someone's income before calculating how much tax they owe:

Taxpayers should use all the tax deductions available to them to keep their bill as low as possible.

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