Meaning of “tax rebate” in the English Dictionary

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"tax rebate" in Business English

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tax rebatenoun [ C ]

uk us TAX, FINANCE

an amount of money that is paid back to you if you have paid too much tax:

More than 2 million taxpayers will receive checks totaling $1 billion because of the federal tax rebate program.

a reduction in the amount of tax that has to be paid on something:

They are negotiating a property tax rebate for elderly home-owners.

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