tax holiday
noun[C]
ACCOUNTING,TAXukusaperiodwhenpeopleorcompaniesdo not have topayanytaxor not as muchtaxasusualongoods,services, orprofits:
Thecountryhas said it isreviewingthe five-yeartaxholidaysthat manyforeignfirmscurrentlyenjoy.
The pre-Christmassalestaxholidaywasn't enough topersuadeconsumerstostartspendingagain.