what are regressive taxes
Definition of 'Regressive Tax'. Tweet. This system of taxation generally benefits the higher sections of the society having higher incomes as they need to pay tax at lesser rates. Definition: Under this system of taxation, the tax rate diminishes as the taxable amount increases.efinition of 'Regressive Tax'. Tweet. This system of taxation generally benefits the higher sections of the society having higher incomes as they need to pay tax at lesser rates. Definition: Under this system of taxation, the tax rate diminishes as the taxable amount increases.