Playing now

What is tax?

View our full Glossary of accounting & payroll terms

Glossary definition

What is tax?

Tax

Tax is a fixed amount of money that companies and individuals have to pay back to the government.

Subscribe to our Sage Advice Newsletter

Get our latest business advice delivered directly to your inbox.

Working from home with tea in hand

Boss your finances with Sage 50cloud

Enjoy less admin, more automation, simplified payroll, and get paid faster with Sage 50cloud.

Take a test drive today!

woman putting on headset working on computer

Related topics

Tax

Search

See this term in action

April 17, 2024 9 min read

Tax return checklist: What businesses need to know and do now

Lady operating farm with tab

February 22, 2023 5 min read

How to manage your small business payroll taxes the easy way

woman working at desk

January 12, 2023 7 min read

Discover the tax changes you need to know in 2023

Learn more about this definition and others