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Definition of “tax allowance” - English Dictionary

"tax allowance" in Business English

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tax allowancenoun [C]

uk   us   UK (US tax exemption) TAX
an ​amount of ​money that can be taken off someone's ​income and ​savings, or a company's ​profits before the ​taxowed is ​calculated: The married couple's ​taxallowance was ​withdrawn in the 1990s.
(Definition of tax allowance from the Cambridge Business English Dictionary © Cambridge University Press)
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