Tax avoidance is the legal means of minising your tax paymentspaying as little tax as possible More Tax Evasion - Tax evasion is the illegal avoiding of paying tax More
the practice of reducing tax liabilities to a minimum by legal means.
A legal action designed to reduce or eliminate the taxes that one owes.
Minimizing tax burden through legal means such as tax-free municipal bonds, tax shelters, IRA accounts, and trusts. Compare with tax evasion.
Any deed undertaken to reduce the amount of tax liability and increase the income after taxes.
the minimization of tax liability by lawful methods
An action taken to lessen tax liability and maximize after-tax income.
refers to schemes to lower the taxation burden, such as moving money offshore. In Internet commerce, the key issue will be the extent to which the Internet will allow business activities to be undetectable or anonymous, so that the taxing and auditing requirements of the existence and identity of persons or transactions cannot be determined. The migration of businesses to the Internet may be partially driven by the tax avoidance and evasion opportunities it presents. (p. 211)
An attempt to minimise the tax payable by legal means.
The minimising of tax liability via legal activities.
Legal minimization of the impact of taxation.
Reducing tax bills by using legal means is called tax avoidance.
A legal planned strategy to pay the least amount of tax as possible. We exist to help you to do this. Not to be confused with Tax Evasion, which is the illegal practice of intentionally evading taxes. Common and therefore easily traceable tactics include underreporting income or hiding assets for the tax authorities. We are experts in exploiting clever lawful tax avoidance strategies and can help you avoid any accidental or unintentional tax evasion and the unwelcome consequences and severe financial and criminal penalties.
Contrast with Tax Evasion Legal means for reducing taxes.
legally reducing tax liability, differs to tax evasion which is illegal
Not to be confused with evasion. A planned strategy to structure your investments to pay the least amount of tax legally possible.
Making full use of reliefs and exemptions to ensure as little tax as possible is paid. Tax Break Investment. Used to describe an investment which offers a method of tax avoidance - legally reducing the amount of tax normally paid. Tax Code. A code that tells your employer how much tax to deduct from your salary.
Payment of the minimum tax by using legal tax planning opportunities such as estate planning.