tax eemptions

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Tax Exemptions

Description

Tax exemptions refer to specific allowances or exclusions granted by the government that reduce an individual or business taxpayer's taxable income. These exemptions are designed to encourage certain behaviors, promote economic growth, or alleviate financial burdens.

Sample Sentences

The government grants tax exemptions to encourage investments in renewable energy sources.
Individuals with disabilities may be eligible for tax exemptions on certain medical expenses.
Non-profit organizations are often awarded tax exemptions due to their charitable nature.

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