Outrageously Funny Word Dictionary :: Remittitur

👉 The term "remittitur" is a term used in the context of tax policy. It refers to a government-imposed tax on financial transactions between individuals and businesses that are not directly related to business operations or services. In essence, a remittitur is a tax imposed on people who receive income from abroad. The tax is levied based on the amount of foreign income received and is intended to support the country's economic development by reducing international trade barriers. This tax can be applied retroactively

remittitur