Definition of purchase tax in English:

purchase tax

noun

  • A tax added to the price of goods sold to consumers.

    ‘car tax was an additional purchase tax that has since been abolished’
    • ‘Under the earlier system, which has been in force since the days of the princely states, state governments were virtually free to slap any sort of tax like entry tax, purchase tax, etc, to increase their revenues.’
    • ‘That section abolished purchase tax in the United Kingdom, with effect from 1 April 1973.’
    • ‘A Hoover washing machine could be bought for anything from £27 top £35, plus purchase tax of a further £8 to £11.’
    • ‘Manufacturers feel they are victims of government policies, such as the 3% to 8% consumption tax and a 10% car purchase tax that has to go on top of the factory gate price.’
    • ‘‘The Irish government has doggedly held on to a car purchase tax, even though excise duty on cars was abolished as far back as 1992,’ he said.’
    • ‘Stamp duties, wealth and purchase taxes also come to 3%, split between the buyer and seller.’
    • ‘The purchase tax is tiered from 9 to 13 per cent.’
    • ‘Meanwhile, in a modest step to boost car sales, the State Administration of Taxation, from August 1, lowered the bases on which the purchase tax for passenger cars are calculated.’
    • ‘A general sales tax, purchase tax, was only introduced in 1940, and then seen initially as a temporary measure.’
    • ‘All consumers making a single purchase over US $4,000 will be compelled to register that transaction which will then become subject to additional purchase tax.’
    • ‘In addition to a minimum purchase tax of NT $11.8 imposed on a pack of cigarettes, a health tax of NT $5 was also levied.’
    • ‘As for the touted benefits for the consumer and businesses, credit cards can truly be regarded as an additional purchase tax and, ipso facto, a huge drain on the economy.’
    • ‘They are keeping their fingers crossed in the hope that the Chancellor will take off the purchase tax.’
    • ‘Legal fees are usually about 1 per cent of the property's value while purchase tax is charged depending on the property's value at between 9 and 11 per cent.’
    • ‘The legislation was designed to make property purchase tax efficient for investors and to allow them better-balanced portfolios that were not dominated by equities.’
    • ‘I have paid, in income and purchase tax, well over a million pounds.’
    • ‘The Utility scheme, bringing key commodities within a state design and price regime and exempting them from purchase tax, differentiated utility and luxury goods both economically and morally.’
    • ‘One way to change this would be to influence the market in such as way as to eliminate the profitability of dealing in houses, by increasing house purchase tax or interest rates on mortgages, for example.’
    • ‘A European politician wants purchase tax to be scrapped on all goods delivered over the Net.’
    • ‘He may also pave the way for limited local income taxes or purchase taxes, such as a parking tax.’

Pronunciation

purchase tax