income tax
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income tax
A tax levied on the income of individuals. Its amount depends on the taxable income.
Jedes Jahr im Mai muss ich meine Erklärung für die Einkommensteuer abgeben.
Every year in May, I have to submit my income tax return.
The word is composed of three parts: 'Einkommen' (income), the linking element '-s-', and 'Steuer' (tax). So it literally refers to the tax on income.
Die Höhe der Einkommensteuer hängt vom Gehalt ab.
The amount of income tax depends on the salary.
The base word '-steuer' (tax) is very productive in German. If you know it, you can understand many other types of taxes, such as 'Umsatzsteuer' (sales tax), 'Mehrwertsteuer' (value-added tax), or 'Hundesteuer' (dog tax).
Neben der Einkommensteuer müssen Unternehmen auch Körperschaftsteuer zahlen.
In addition to income tax, companies also have to pay corporate tax.
Common verbs in connection with income tax are 'Einkommensteuer zahlen' (to pay income tax), 'Einkommensteuer abführen' (to remit income tax), or 'etwas von der Steuer absetzen' (to deduct something from tax). The related bureaucracy is called 'Einkommensteuererklärung' (income tax return).
Viele Kosten für die Arbeit kann man von der Einkommensteuer absetzen.
Many work-related costs can be deducted from income tax.
trade tax
'Einkommensteuer' and 'Gewerbesteuer' are both taxes, but they are based on different things. 'Einkommensteuer' (income tax) is paid by an individual on their income, for example from employment or self-employment. 'Gewerbesteuer' (trade tax) applies to the earnings of a commercial business and is levied by the municipality. They can be confused because business owners often have to deal with both. A simple guide is: Einkommensteuer is about a person's income, while Gewerbesteuer is about the profit of a business.
Nach der Steuererklärung bekommt Anna einen Teil der Einkommensteuer zurück.
After filing her tax return, Anna gets part of her income tax back.
Die kleine Firma muss in ihrer Stadt Gewerbesteuer zahlen.
The small company has to pay trade tax in its town.