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What is another word for sales tax?

Pronunciation: [sˈe͡ɪlz tˈaks] (IPA)

Sales tax, also known as consumption tax or Value Added Tax (VAT), refers to a percentage of the transaction value that is added to the price of goods and services before the final sale. In different countries, it is called by different names such as Goods and Services Tax (GST), Value Added Tax (VAT), Turnover Tax, or Retail Sales Tax. These taxes are levied by governments to collect revenue for their social welfare and developmental activities. Although the names may vary, the purpose and concept remain the same, and it plays a vital role in a country's economic growth and development.
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Synonyms for Sales tax:

What are the hypernyms for Sales tax?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Famous quotes with Sales tax

  • Brick and mortar businesses - and the communities that depend on them - cannot continue to bear an unfair sales tax burden from which their on-line competitors are effectively exempt.
    Bill Delahunt
  • I had hoped to let the one-half cent sales tax sunset this year, but we do not believe revenues will grow as fast as we hoped for the rest of the year.
    Michael F. Easley
  • Many states rely on sales tax as their principle source of revenue and do not have a State income tax.
    William L. Jenkins
  • We have reduced sales tax on food. Now we want it eliminated.
    Joe Manchin
  • Eastern Washington families and businesses should be able to deduct every penny of state and local sales tax they pay throughout the year from their federal tax bill, especially when people in most states are deducting their state income taxes.
    Cathy McMorris

Related words: sales tax calculator, sales tax rates by state, sales tax by zip code, how to calculate sales tax, how to calculate metered sales tax, how to calculate sales tax on goods, how do you calculate sales tax, how do you calculate sales taxes

Related questions:

  • What is a sales tax?
  • What is a sales tax rate?

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