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Accounting & Tax vocabulary · Tax Filing & Compliance

Tax return

Meaning in accounting & tax, with examples

nounCore term

In accounting & tax, tax return means: An official form a taxpayer submits to the tax authority, reporting income, expenses or sales for a period and calculating the tax due.

In Turkish: vergi beyannamesi, beyanname

How it is used

You file, submit or complete a tax return, usually online. Missing the filing deadline can lead to penalties. Common types are income tax, corporate tax and VAT returns.

Example sentences

  1. Our accountant is preparing the corporate tax return, which is due next month.

  2. Did you file your tax return before the deadline?

Common collocations

  • file a tax return
  • submit a tax return
  • annual tax return
  • filing deadline
  • amended tax return
  • income taxA tax on the income of individuals, such as salaries, rent, business profits and investment income, usually charged at rates that rise as income rises.
  • VAT returnA periodic form a business submits to the tax authority showing output VAT on sales, input VAT on purchases and the net amount to pay or reclaim.
  • tax liabilityThe total amount of tax a person or company owes to the tax authority for a period, or more generally the legal duty to pay a particular tax.
  • taxable incomeThe part of income on which tax is actually calculated, after allowed expenses, exemptions and allowances have been deducted from total income.
  • tax auditAn examination by the tax authority of a taxpayer's books, returns and documents to check that the correct amount of tax has been declared and paid.

More terms: Tax Filing & Compliance

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This page explains English vocabulary for learners. It is not financial advice.