Define: Tax

UK Accounting Glossary

Definition: Tax

Quick Summary of Tax

Charge levied by a governmental unit on income, consumption, wealth, or other basis.

What is the dictionary definition of Tax?

Dictionary Definition

  1. Money paid to the government other than for transaction-specific goods and services.
  2. A burdensome demand.
  3. A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.


Full Definition of Tax

A tax (derived from the Latin phrase taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (as an individual or legal entity) by a governmental organisation in order to fund public expenditures.


Synonyms For Tax

charge, strain, duty, burden, levy

Tax FAQ's

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. Payroll & Accounting Heaven Ltd. January 18, 2020
Chicago Manual of Style (CMS):
Tax. Payroll & Accounting Heaven Ltd. (accessed: January 18, 2020).
American Psychological Association (APA):
Tax. Retrieved January 18, 2020, from website:

Definition Sources

Definitions for Tax are sourced/syndicated from:

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

This glossary post was last updated: 26th December 2018.