Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Average tax rate
see tax rate.
average tax rate
A taxpayer's tax liability divided by the amount of taxable income.
marginal tax rate
In a progressive-tax scheme, the rate applicable to the last dollar of income earned by the taxpayer. a This concept is useful in calculating the tax effect of receiving additional income or claiming additional deductions. See TAX BRACKET.
tax rate
A mathematical figure for calculating a tax, usu. expressed as a percentage.