Akademik

tax evasion

Illegal by reducing tax burden by underreporting income, overstating deductions, or using illegal tax shelters . Bloomberg Financial Dictionary

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An attempt to minimise the tax payable by illegal means, e.g., by reporting inaccurately. Financial Services Glossary

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tax evasion ˈtax eˌvasion noun [uncountable] TAX LAW

illegal ways of paying less tax:

• He pleaded guilty to charges of bank fraud and tax evasion.

— compare tax avoidance

— tax evader noun [countable] :

• Monaco was accused of being a paradise for tax evaders.

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tax evasion UK US noun [U] TAX, ACCOUNTING

► illegal methods used by people or companies to reduce the tax they pay, or a particular situation where this happens: »He was arrested in October on charges of tax evasion and fraud.
»Tax evasion schemes were responsible for over £16m of frauds last year.
fight/crack down on/curb tax evasion »Government plans to crack down on tax evasion have met with protests from businessmen.
»tax evasion case/charges/trial
be accused of/charged with/found guilty of tax evasion »Three executives were charged with tax evasion and harboring illegal aliens.

→ Compare TAX AVOIDANCE(Cf. ↑tax avoidance), TAX EVASION(Cf. ↑tax evasion)

Financial and business terms. 2012.