Refund of a part of the amount already paid or a deduction from the amount to be paid. A rebate on the purchase of a consumer good is used in marketing research for the estimation of the elasticity of demand. A tax rebate is a refund of tax paid in excess of the correct tax liability. The EU rebate is the refund from the budget of the European Union (EU) to certain member countries, currently Austria, Germany, the Netherlands, Sweden, and the UK, based on the difference between the contributions these member countries make to the EU budget, and the amount of aid they receive from the budget.