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Tax Rebate

Tax Rebate Definition

Tax Rebate is an amount of money refunded to an individual when too much tax has been paid or withheld from the salary for a given year. After filing taxes for the year it may occur that taxes were overpaid. In many cases tax deductions or credits are not taken into consideration when the withholding is calculated during the year. If more tax was paid than actually owed, the government pays the excess tax back.







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