Meaning of “taxation” in the English Dictionary

"taxation" in American English

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taxationnoun [ U ]

us /tækˈseɪ·ʃən/

the process by which the government of a country obtains money from its people in order to pay for its expenses

(Definition of “taxation” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"taxation" in Business English

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taxationnoun [ U ]

uk /tækˈseɪʃən/ us TAX, GOVERNMENT

the system of collecting taxes:

The proposals restrict investors' ability to shelter their assets from taxation.
Reform of the country's taxation system is high on the Government's economic agenda.
central/general/local taxation Britain has one of the highest rates of personal taxation in the world.
Generally, all capital gains are taxable unless you are exempt from taxation.
In Europe health care, education or sponsorship of the arts, have largely been financed through higher rates of taxation.
The committee proposed a sweeping overhaul of the tax code last week, aimed at shifting more of the burden of taxation to the wealthy

money that is collected as tax:

cut/reduce/raise taxation The big corporations are adamant the government must reduce taxation.
excessive/heavy taxation
high/low taxation

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