English version

tax-exempt income

From Longman Business Dictionary
Related topics: Tax
tax-exempt incomeˌtax-exempt ˈincome (also tax-free income) [countable, uncountable]TAX a part of personal income on which you do not have to pay income taxHis tax return shows that he earned $217,000 in taxable and tax-exempt income last year.A unit investment trust generates tax-free income from interest over the life of the trust. income
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