Tax-increase (Noun)
Meaning
The amount by which taxes are increased; "a tax increase of 15 percent".
Classification
Nouns denoting attributes of people and objects.
Examples
- The government's proposed tax increase of 5 percent on luxury goods has sparked heated debates among lawmakers and economists.
- The company is struggling to stay afloat due to the recent tax increase imposed by the local authorities.
- A tax increase of 10 percent on gasoline is expected to be implemented nationwide next year.
- Critics argue that the tax increase will disproportionately affect low-income households and small businesses.
- The new tax increase is projected to generate an additional $1 billion in revenue for the state government.