English version

tax liability

From Longman Business Dictionarytax liabilityˈtax liaˌbility [countable]ACCOUNTINGTAX an amount of tax that a person or organization must payNo debts remained outstanding, apart from a tax liability in excess of £500,000. liabilitytax liabilityˈtax liaˌbility [uncountable]LAWTAX the state of having to pay an amount of taxThe current system bases tax liability on the form of income rather than the amount. liability
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