What is another word for sales taxes?

Pronunciation: [sˈe͡ɪlz tˈaksɪz] (IPA)

Sales taxes are a necessary evil as they are levied on the sale of goods and services to consumers and collected by businesses on behalf of the government. While many people refer to them as sales taxes, they can also be called consumption taxes, turnover taxes, or value-added taxes (VAT). Consumption taxes are taxes that are levied on the final consumption of goods and services, rather than on the production or supply chain, while turnover taxes are a tax on the total amount of a company's revenue. VAT is a type of consumption tax that is applied as a percentage of the price of goods and services at each stage of their production and distribution.

What are the hypernyms for Sales taxes?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Famous quotes with Sales taxes

  • Uncollected sales taxes on Internet purchases cost the states more than $16 billion in 2001.
    Bill Delahunt
  • As I said in my state of the state address, we can no longer rely on gaming and sales taxes to pay our way. Indian gaming next door in California is eroding our major industry in Nevada.
    Kenny Guinn
  • Let me respond with a few points, the first being that all immigrants pay taxes, income taxes, property taxes, sales taxes, gasoline taxes, cigarette taxes, every tax when they make a purchase.
    Luis Gutierrez

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