From Longman Dictionary of Contemporary Englishexemptionex‧emp‧tion /ɪɡˈzempʃən/ ●○○ noun 1 PET[countable] an amount of money that you do not have to pay tax on You qualify for a tax exemption on the loan.2 LET/ALLOW[countable, uncountable] permission not to do or pay something that you would normally have to do or payexemption from exemption from customs duties The commission granted temporary exemptions.
Examples from the Corpus
exemption• There would also be an exemption of $ 5,000 per child.• As a defence, the Council pleaded an exemption clause printed on the back of the ticket.• Details of other specific exemptions are included in the Regulations.• a tax exemption for a dependent child• In 1920, Austen Chamberlain transformed the system by allowing tax exemptions to be claimed nomatterhow big the taxpayer's income.• Tax exemptions for the property of literary and artistic figures is also proposed.• It is the broker's job to make sure the haulier fully understands the small print of the exemption and other clauses.• From 1986, only employers with less than ten employees were eligible, but this exemption was subsequently abolished in 1990.• The purpose and application of this exemption are not clear.tax exemption• In 1920, Austen Chamberlain transformed the system by allowing tax exemptions to be claimed nomatterhow big the taxpayer's income.• The result was that the government created a paper blizzard of promissory notes and tax exemptions.• Increased tax exemptions for gifts to museums would also be very helpful.• This firm is assisting the organization in resolving problems related to its tax exemption.• Establishing such enclaves would inevitably encourage the immigration of larger companies seeking tax exemptions.• For basic-rate payers, the tax exemption will not compensate for the low rate.granted ... exemptions• It has delegated authority under the Consolidated Regulations to grant such exemptions.• Graduates have also been granted exemptions by the professional bodies in personnel, marketing, banking and insurance.• Each individual is granted allowances or exemptions that reduce the total amount of income liable to tax. 