Define: Taxation

UK Accounting Glossary

Definition: Taxation

Quick Summary of Taxation

Process of instituting a charge against a legal entity’s person, property or activity for the support of government. (For example, income taxes, sales taxes, duties and levies.)


Examples of Taxation in a sentence

One of the greatest problems facing taxation in the French agricultural sector is its lack of elasticity and ability to adapt to local conditions.
Money had to be raised by taxation, and at a meeting of the States General the Governor proposed an immediate tax of 2% on all property, a tax of 6% on transfers of real estate and a tax of 10% on the sale of all articles of commerce; the latter of the two taxes to be granted in perpetuity.
Companies have directly benefited from a low rate of taxation.

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

Definition Sources

Definitions for Taxation 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.