tax deduction

Definition

Economics

• A provision of the tax code that specifies an amount by which a taxpayer's tax base will be reduced in return for some behavior, resulting in a lowering of the amount of tax paid that depends on their tax rate.

Nearby Definitions of “tax deduction”

• tax concession
• tax court
• tax credit
• tax cum subsidy
• tax-deductible
• tax deduction
• tax-exempt special savings account
• tax haven
• tax inspector
• tax point
• tax return

Contexts for “tax deduction”

1 definition in context
• Economics