tax liability Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “tax liability” in the English Dictionary

"tax liability" in Business English

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tax liabilitynoun

uk   us   TAX
[C] an ​amount of ​tax that a ​person or ​business must ​pay: The ​company had to ​raise €5m to meet a ​taxliability. Shareholders may incur a ​taxliability upon the ​sale or ​redemption of ​shares of a Fund
[U] a ​situation in which ​tax must be ​paid on something: A ​percentage of ​approved child ​carecosts can be ​paid by ​employers without any ​taxliability for them or ​employees.
(Definition of tax liability from the Cambridge Business English Dictionary © Cambridge University Press)
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“tax liability” in Business English

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