Business Word/Phrase of the Day

word-phrase-descEvery day we publish a business word or phrase together with audio pronunciation, phonetics, definition and example sentences. To receive 'Business Word/Phrase of the Day' by email, just subscribe to our newsletter. You can choose whether to receive notifications daily, weekly or monthly. Simply click on the link on the right to subscribe. It's free!

INDIRECT TAXATION ɪndəˈrɛkt, tækˈseɪʃən

22 Mar 2020

Noun

  • includes taxes which are levied in an indirect way rather than being charged directly on an individual's income or estate.
Example Sentences: Tax on products, such as cigarettes, alcohol and petrol, is also a form of indirect taxation.
High indirect taxation tends to hit the poor far more than the rich.
 

DIRECT TAXATION dɪˈrɛkt tækˈseɪʃən

21 Mar 2020

Noun

  • includes taxes which are imposed directly on the individual paying them.
Example Sentences: Examples of direct taxation are income tax, capital gains tax and inheritance tax.
High direct taxation hits the rich hard.
 

TAX YEAR tæks yɪər

20 Mar 2020

Noun

  • The calendar year or fiscal period for which income tax is to be paid.
Example Sentence: In Hong Kong the tax year ends on 31 March.
 

TAX RETURN tæks rɪˈtɜrn

19 Mar 2020

Noun

  • Is a form on which certain tax payers annually list their salary (including pensions), or income from self employment together with benefits in kind, other income and capital gains.
Example Sentence: Don’t forget to get your tax return in by the end of the month. There’s a penalty if you send it in late.
 

TAX RELIEF tæks rɪˈlif

18 Mar 2020

Noun

  • Are amounts which you can deduct from your annual income to reduce the amount on which you have to pay tax.
Example Sentences: Tax relief that can be claimed in connection with employment includes travel expenses necessary for you to carry out your work and for which the employer does not pay.
I claimed tax relief on my Hong Kong business trip.
 

TAX HAVEN tæks heɪvən

17 Mar 2020

Noun

  • Is a country where companies or individuals may legally take advantage of lower taxation levels.
Example Sentence: Well-known tax havens include: Bermuda, British Virgin Islands, Gibraltar and the Isle of Man.
 

TAX EXILE tæks ɛksaɪl

16 Mar 2020

Noun

  • Is a wealthy person who lives outside his/her own country in order to minimise the tax they owe.
Example Sentence: Many wealthy people prefer to move to other countries and become tax exiles than reside in their birth countries where the tax rates are high.
Sean Connery is perhaps Scotland’s most famous tax exile.
 

TAX EVASION tæks ɪˈveɪʒən

15 Mar 2020

Noun

  • Is the minimising of the tax you owe by failing to declare taxable income or taxable capital gains or by submitting false information to the tax authorities.
Example Sentence: World famous Tenor Luciano Pavoratti was convicted of tax evasion in 1999, and ordered to pay a penalty of US$11 million to the Italian Courts.
 

TAX AVOIDANCE tæks əˈvɔɪdns

14 Mar 2020

Noun

  • Is working within the law to minimise the tax you owe.
Example Sentence: Richard has a really switched-on accountant who specialises in tax avoidance for self-employed people.
 

TAX ALLOWANCES tæks əˈlaʊəns

13 Mar 2020

Noun

  • Are concessions by the Inland Revenue which can be used to reduce a person's Taxable Income.
Example Sentence: Do you know how much the tax allowance is for a married person in Hong Kong?
 

YIELD yild

12 Mar 2020

Noun

  • Return on investment shown as a percentage.
Example Sentence: On average last year I was getting a 7.7% yield on my property investments.
The company offered a 10% yield on its investment.
 

TRADER treɪdər

11 Mar 2020

Noun

  • Investor who holds stocks and securities for a short time (minutes, hours or days) with the objective of making profit from short-term gains in the market.
Example Sentence: Traders need to choose just the right time to buy and sell shares. A minute's delay can cost them a lot of money.
 

STOCKHOLDER stɒkˌhoʊldər

10 Mar 2020

Noun

  • Person who owns stocks and shares.
Example Sentence: Four stockholders own 88% of the company between them.
 

STOCKBROKER stɒkˌbroʊkər

09 Mar 2020

Noun

  • A licensed professional who buys and sells stocks and shares for clients in exchange for a fee, called a 'commission'.
Example Sentence: Bill is a stockbroker for a big investment bank. He earns a huge salary but he has to work long and suffer a great deal of stress.
 

STOCK stɒk

08 Mar 2020

Noun

  • Shares (portion of the capital of a business company) held by an investor.
Example Sentence: How much stock do you own in the company?
His Microsoft stock must be worth millions.
 
Menu