免税
めんぜい · menzei · JLPT N2 · noun
exemption
免税 = 免 (exempt, free from) + 税 (tax), so tax exemption
免 (men) means exempt or free from, and 税 (zei) means tax. Read as men + zei, the two parts combine into tax exemption.
免 — pictograph of a person 人 with a hat or helmet
免 originally depicted a person wearing a hat or helmet, suggesting removal or taking off. The meaning shifted to 'avoid, exempt, escape from' — as in escaping a duty or being spared. It is graphically related to 兔 (rabbit), but the two characters have distinct origins.
税 — grain radical 禾 + 兑 (exchange/phonetic)
税 combines 禾 (grain) with 兑 (exchange), which also hints at the sound. In ancient China taxes were paid in grain, so the character originally meant a levy of harvest given to the state. Its meaning later broadened to taxes and duties of any kind.