Business, Legal & Accounting Glossary
The condition of an asset or source of income being taxed at a lower effective rate, as in the case of savings, benefits or retirement plans. These items may receive reduced taxes through rebates, exemptions, rate reductions, or postponements, with the intent to encourage certain types of saving or investing, or to reduce the tax burden on certain categories of individuals, companies, or organizations.
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This glossary post was last updated: 20th November, 2021 | 0 Views.