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Surtax: meaning, definitions and examples

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surtax

 

[ ˈsɜːrˌtæks ]

Noun
Context #1 | Noun

taxation system

A surtax is an additional tax imposed on top of an existing tax. It is often levied as a percentage of income, or on specific goods, services, or transactions. Surtaxes can be used to raise extra revenue for governmental projects or to address budget shortfalls. These taxes are typically implemented in times of economic crisis or as a temporary measure to fund specific initiatives. Individuals and businesses may find surtaxes applicable to high-income brackets, luxury goods, or certain types of investments.

Synonyms

additional tax, incremental tax, supplementary tax.

Examples of usage

  • The government introduced a surtax for high-income earners.
  • Many states have a surtax on tobacco products.
  • The new surtax law aims to fund education programs.
  • During the budget crisis, a temporary surtax was proposed.

Translations

Translations of the word "surtax" in other languages:

🇵🇹 imposto adicional

🇮🇳 अतिरिक्त कर

🇩🇪 Zusatzsteuer

🇮🇩 pajak tambahan

🇺🇦 додатковий податок

🇵🇱 podatek dodatkowy

🇯🇵 追加税

🇫🇷 impôt supplémentaire

🇪🇸 impuesto adicional

🇹🇷 ek vergi

🇰🇷 추가 세금

🇸🇦 ضريبة إضافية

🇨🇿 dodatečná daň

🇸🇰 dodatočná daň

🇨🇳 附加税

🇸🇮 dodatni davek

🇮🇸 auka skattur

🇰🇿 қосымша салық

🇬🇪 მატებითი გადასახადი

🇦🇿 əlavə vergi

🇲🇽 impuesto adicional

Etymology

The term 'surtax' dates back to the early 20th century, derived from the English prefix 'sur-', meaning over or above, and 'tax', which originates from the Latin 'taxare', meaning to estimate or to evaluate. It encapsulates the notion of an added tax that goes beyond the standard tax obligations. The implementation of surtaxes often reflects governmental attempts to respond to fiscal demands or social equity issues by taxing higher earners or certain activities to redistribute wealth or fund specific programs. The historical context of surtaxes can be traced back through various tax reforms and economic policies, particularly during periods of war or economic hardship, when governments sought innovative fiscal strategies to meet their growing financial needs.

Word Frequency Rank

With rank #19,517, this word belongs to specialized vocabulary. While not common in everyday speech, it enriches your ability to express complex ideas.