tax avoidance


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tax avoidance

n
(Accounting & Book-keeping) reduction or minimization of tax liability by lawful methods. Compare tax evasion
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.tax avoidance - the minimization of tax liability by lawful methods
minimisation, minimization - the act of reducing something to the least possible amount or degree or position
Translations

tax avoidance

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References in periodicals archive ?
The tax accounting and auditing firms need a Hippocratic oath, where they sign up to being committed to tackling tax avoidance rather than coming up with all these bizarre schemes and then laundering money into tax havens," he told the panel audience at WEF.
MICK Davies implies that I am against all legal tax avoidance when in fact what I stated in an earlier letter was that I was against aggressive tax avoidance like that used by Lewis Hamilton and mainly available to only wealthy individuals and corporations.
TAX avoidance is back in the news and I've been a bit concerned about the way commentators are using terms such as "tax avoidance" and "tax evasion" randomly.
The leaked Paradise Papers will come as no surprise to those who have witnessed governments past and present turning a blind eye to the outrageous tax avoidance mechanisms used by the super-rich.
But rules targeting tax avoidance cannot go against their purpose and treat some companies better than others.
The victory over scheme promoter, Root2, came after they failed to report a mass-marketed tax avoidance scheme, known as Alchemy, to the tax authority.
This study therefore investigates the taxation effects of IFRS adoption; more specifically, whether IFRS adoption around the world is associated with higher levels of tax avoidance among publicly-traded companies.
Almost 70 nations have signed a treaty, which aims to drastically curb tax avoidance practices by large companies.
PROBES by HM Revenue and Customs (HMRC) into tax avoidance schemes raked in an additional PS494 million in income tax for Treasury coffers last year, figures from law firm Pinsent Masons show.
But Treasury rejected this argument and stated it believed that a taxpayers use of the so-called check-the-box election constituted a principal purpose of tax avoidance.
And our first Budget will make sure that, following an immediate review of HMRC, it has all the powers and resources it needs to come down hard on tax avoidance and evasion.