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tax credit

/ˈtæks ˌkrɛdɪt/

1 entry

phrase

/ˈtæks ˌkrɛdɪt/B2formallegal
  • ruСумма денег, которую налогоплательщик может напрямую вычесть из налогов, подлежащих уплате государству, уменьшая свою налоговую обязанность.

An amount of money that a taxpayer can subtract directly from taxes owed to the government, reducing their tax liability.

  1. Tax reductionB2formal

    An amount of money that a taxpayer can subtract directly from taxes owed to the government, reducing the total tax liability.

    ruНалоговый вычет

    • The government introduced a new tax credit for renewable energy investments.
    • She claimed a child tax credit on her annual tax return.
    • Low-income families may qualify for an earned income tax credit.