Meaning of “writing-down allowance” in the English Dictionary

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"writing-down allowance" in Business English

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writing-down allowancenoun [ C ]

uk us ACCOUNTING, FINANCE, TAX

the percentage of the value of assets that a company can include in its profit calculations for a particular period to reduce the amount of tax it pays:

The writing-down allowance for most plant and machinery purchases is 20%.

(Definition of “writing-down allowance” from the Cambridge Business English Dictionary © Cambridge University Press)