To impose or collect (a tax, for example). (verb-transitive)
To draft into military service. (verb-transitive)
To declare and wage (a war). (verb-transitive)
To confiscate property, especially in accordance with a legal judgment. (verb-intransitive)
The act or process of levying. (noun)
Money, property, or troops levied. (noun)
Examples of word levied
"In the end it all flows from prize money and the levy is the key contributor to prize money."
According to the group's charter, the decline in the levy is attributable to bookmakers exploiting loopholes in the existing legislation, such as moving their operations offshore and utilizing thresholds designed for small businesses to avoid paying levy.
The chancellor should drop his hyperbole about banks making a "fair contribution": the levy is a gentle measure.
The argument for the levy is the same one I made on a prior thread regarding whether people should buy school supplies for low-income children.
I suspect that the levy is being used to pay what had been paid by general funds in the past.