Definition of surtax in English:
An additional tax on something already taxed, such as a higher rate of tax on incomes above a certain level.
- In many states a temporary surtax on personal income taxes is probably the optimal answer, when contingency funds are inadequate and prudent spending reductions have been exhausted.
- The Liberal budget reduced personal income, capital gains and corporate tax rates, and announced the phased elimination of a surtax on higher income Canadians, but it made no mention of the regressive Goods and Services Tax.
- They are supported mainly by transfers - a surtax on West German income that is transferred to the East Germans.
Definition of surtax in:
- British & World English dictionary