Definition, Meaning & Synonyms
taxation
noun
/tækˈseɪʃən/
Definition
The process by which a government collects money from its citizens to fund public services and projects.
Examples
- The government implemented new taxation policies to improve public infrastructure.
- Many people are concerned about the impact of taxation on their disposable income.
- Taxation is essential for funding education and healthcare services.
Meaning
Taxation refers to the system of levying taxes on individuals and businesses to generate revenue for governmental functions.
Synonyms
- tax
- levy
- duty
- tariff
- exaction
