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taxed item vs taxable item

Both "taxed item" and "taxable item" are correct phrases, but they have different meanings and usage. "Taxed item" refers to an item that has already had taxes applied to it, while "taxable item" refers to an item that is subject to taxation. They are not interchangeable as they convey different concepts.

Last updated: March 29, 2024 • 807 views

taxed item

This phrase is correct and commonly used in English to refer to an item that has already had taxes applied to it.

This phrase is used to describe an item that has already been subjected to taxation. It implies that taxes have been levied on the item.

Examples:

  • The taxed items in the store are clearly marked with the final price including taxes.
  • Please check your receipt for the list of taxed items.
  • The report includes a breakdown of all taxed items for the quarter.
  • The taxed items account for a significant portion of the company's revenue.
  • The store offers a discount on taxed items for a limited time.
  • The growth composition effect on revenue is compounded by intra-category shifts away from higher-taxed items such as consumer durables towards lower-taxed items of daily consumption.
  • This means that heavily taxed items such as cigarettes are particularly susceptible to fraud.
  • they should be taxed as items of hardware at the value of the simple hardware, rather than at the market rate that they would achieve as pieces of art?
  • According to the Greek authorities, this item consists of contributions by shareholders to a capital increase. Contributions towards capital increases are not normally taxed.

Alternatives:

  • taxed goods
  • taxed products
  • items with taxes applied
  • items subject to taxation
  • taxed merchandise

taxable item

This phrase is correct and commonly used in English to refer to an item that is subject to taxation.

This phrase is used to describe an item that is eligible to be taxed. It indicates that the item falls under the category of goods or services that can be taxed.

Examples:

  • The store displays a sign indicating the list of taxable items.
  • Please be aware that this is a taxable item and will incur additional charges.
  • The tax law specifies the criteria for classifying items as taxable or non-taxable.
  • The company's catalog includes a range of taxable items.
  • The government has revised the list of taxable items for the upcoming fiscal year.
  • Turnover is the most important taxable item.
  • Community law, as it now stands, entails no specific obligation for Member States to permit taxable persons to round down per item the amount of the tax on added value.
  • 1. In respect of supplies of second-hand goods, works of art, collectors' items and antiques effected by taxable dealers, Member States shall apply special arrangements for taxing the profit margin made by the taxable dealer, in accordance with the following provisions.
  • If the item is sold for more than cost, the cumulative tax depreciation of 30 will be included in taxable income but sale proceeds in excess of cost will not be taxable.
  • For the purposes of points 3.1, 3.2 and 3.3 an item of income should be considered to be subject to tax where it is treated as taxable by the jurisdiction concerned and is not exempt from tax, nor benefits from a full tax credit or zero-rate taxation.
  • For the purpose of answering this question, does it make any difference whether the taxable person was charged VAT, which he deducted, on the acquisition of the capital item?
  • It is appropriate to adopt a Community taxation system to be applied to second-hand goods, works of art, antiques and collectors' items, with a view to preventing double taxation and the distortion of competition as between taxable persons.
  • The margin scheme shall apply to the supply by a taxable dealer of second-hand goods, works of art, collectors' items or antiques where those goods have been supplied to him within the Community by one of the following persons:
  • 2. The supplies of goods referred to in paragraph 1 shall be supplies, by a taxable dealer, of second-hand goods, works of art, collectors' items or antiques supplied to him within the Community:
  • that proportion is a proportion which has been determined on the basis of the use of all or part of goods and services by the taxable person in accordance with item (c) of the third subparagraph of Article 17(5); and/or
  • that proportion is a proportion which has been determined in respect of all goods and services used by the taxable person for all transactions referred to in the first paragraph of Article 17(5), in accordance with item (d) of the third subparagraph thereof?

Alternatives:

  • items subject to tax
  • taxable goods
  • taxable products
  • taxable merchandise
  • items eligible for taxation

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