goods and service tax
- noun
- Australian
:
impuesto sobre bienes y servicios
- Several countries have adopted the goods and service tax to simplify their tax systems.
Examples
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The government implemented a goods and service tax to streamline indirect taxes.
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Businesses must register for the goods and service tax if their turnover exceeds a certain threshold.
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The goods and service tax is applied at the point of sale.
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Many countries have implemented a goods and service tax to increase revenue.
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The goods and services tax is added to the price at checkout, making the final amount higher.
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Many businesses are required to register for the goods and services tax to comply with tax laws.
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When purchasing furniture, the goods and services tax was included in the total bill.
Synonyms
75
1.8
A tax added to the price when you buy goods or services
20
5.0
A tax added to the price of goods and services
6
4.0
A tax added to the price of goods and services each time a business makes or sells them
1
4.2
A tax added to most goods and services and paid at each stage of production or sale
How High
- Australian
27
2.9
Surface Forms
Morphology
The phrase directly composes 'goods' + 'and' + 'service(s)' with 'tax' to denote a tax on the supply of goods and services; a B1 learner who knows these words can readily infer this meaning. This is a straightforward, cross-linguistically common fiscal construction (e.g., VAT/GST), so the meaning is compositionally transparent.
Etymology
Goods and service tax comes from the simple idea of one tax that covers both goods, meaning things you buy, and service, meaning work someone does for you. So the name helps you remember it is the single 'tax' a 'seller' adds to the price of what you buy.