tax liability
B1CEFR level
45/100Rarity: uncommon
TechnicalRegister
Law phrase
The total amount of tax that a person or company is legally obliged to pay for a given period.
After reliefs, the group's corporation tax liability for the year fell to under a million pounds.
Business noun
The total amount of tax that a company or individual is legally obliged to pay to the authorities.
The capital allowances reduced our tax liability significantly this year.
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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