Tax: it’s absent from laughing matter, perhaps (4)

I believe the answer is:

levy

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'tax' is the definition.
(I've seen this before)

I don't understand the rest of the clue.

(Other definitions for levy that I've seen before include "Charge imposed and collected" , "Tax, fee, fine, etc" , "Money raised from taxes, etc" , "Impost" , "An imposed tax or duty" .)

I've seen this clue in The Independent.

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