Tax levied by a government directly on income, especially an annual tax on personal income.
- Most of our revenue is raised through income tax and income tax revenue declines with age.
- I pay income tax and council tax, portions of which are spent on road maintenance.
- Reducing marginal rates of income tax, shifting from direct to indirect taxes.
For editors and proofreaders
Syllabification: in·come tax
Definition of income tax in:
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.