Tax System

Business, Legal & Accounting Glossary

Definition: Tax System

What is the dictionary definition of Tax System?

Dictionary Definition

The means by which taxes are raised and collected in accordance with tax legislation.

Full Definition of Tax System

Tax systems fall into three main categories: regressive, proportional, and progressive. Regressive taxes have a greater impact on low-income individuals than they do on high-income earners. A proportional tax, also referred to as a flat tax, impacts low-, middle-, and high-income earners relatively equally.

Synonyms For Tax System

tax regime, tax treatment, taxation system, tax arrangements, tax scheme

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Tax System. Payroll & Accounting Heaven Ltd. August 06, 2021
Chicago Manual of Style (CMS):
Tax System. Payroll & Accounting Heaven Ltd. (accessed: August 06, 2021).
American Psychological Association (APA):
Tax System. Retrieved August 06, 2021, from website:

Definition Sources

Definitions for Tax System are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th April, 2020 | 11 Views.