1. tax, British (in the UK) a code consisting of numbers and letters, which indicates to an employer how much tax should be deducted from an employee's pay
⇒ The Inspector then sends you and your employer a Notice of Coding, which gives you
your tax code and provides a full breakdown showing how it was worked out.
2. politics the body of laws that govern the system of taxation in a country
⇒ Capital gains may regain their favored tax treatment in the United States when its
tax code changes yet again.
Collins English Dictionary. Copyright © HarperCollins Publishers