Definition
Tax Relief is a mechanism that reduces a tax liability by allowing specified costs to be deducted or preferential tax treatment to be applied under applicable law.
Human Explanation
It can reduce the tax due when defined conditions are met.
Why it Matters
Tax Relief may improve investment viability and support Innovation, Research and Development or other activities covered by tax preferences.
Conceptual Boundary
Tax Relief is neither a Grant nor a Subsidy. It is part of the tax system, and its scope depends on applicable law.
Practical Perspective
Before claiming relief, an organisation should verify eligibility, documentation requirements and current tax rules.