option to tax
C1CEFR level
85/100Rarity: very rare
TechnicalRegister
An election to charge VAT on otherwise exempt supplies of land so that related input tax becomes recoverable.
The landlord exercised the option to tax to reclaim VAT on the refurbishment.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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