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English definition of “input tax”

input tax

noun [C or U]
 
 
ACCOUNTING, TAX
a tax that is added to goods and services that a business buys to make its own goods or provide its own services: The VAT tribunal held that the company could deduct the input tax paid on transportation costs. →  Compare output tax →  See also VAT
(Definition of input tax from the Cambridge Business English Dictionary © Cambridge University Press)
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