Tax Evasion


Tax Evasion
An illegal practice where a person, organization or corporation intentionally avoids paying his/her/its true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties.

There is a difference between tax minimization/avoidance and tax evasion. All citizens have the right to reduce the amount of taxes they pay as long as it is by legal means.


Investment dictionary. . 2012.

Look at other dictionaries:

  • tax evasion — n: a willful and esp. criminal attempt to evade the imposition or payment of a tax convicted of tax evasion Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. tax evasion …   Law dictionary

  • tax evasion — ► NOUN ▪ the illegal non payment or underpayment of tax …   English terms dictionary

  • tax evasion — Illegal by reducing tax burden by underreporting income, overstating deductions, or using illegal tax shelters . Bloomberg Financial Dictionary An attempt to minimise the tax payable by illegal means, e.g., by reporting inaccurately. Financial… …   Financial and business terms

  • tax evasion — noun the deliberate failure to pay taxes (usually by making a false report) • Hypernyms: ↑evasion, ↑nonpayment * * * ˈtax evasion [tax evasion] noun uncountable …   Useful english dictionary

  • tax evasion — N UNCOUNT Tax evasion is the crime of not paying the full amount of tax that you should pay …   English dictionary

  • tax evasion — tax e,vasion noun uncount the use of illegal methods to pay less tax or pay no tax at all ─ compare TAX AVOIDANCE …   Usage of the words and phrases in modern English

  • tax evasion — tax e.vasion n [U] the crime of paying too little tax →↑tax avoidance …   Dictionary of contemporary English

  • tax evasion — Minimizing tax liabilities illegally, usually by not disclosing that one is liable to tax or by giving false information to the authorities. Evasion is liable to severe penalties. Compare: tax avoidance …   Accounting dictionary

  • tax evasion — Minimizing tax liabilities illegally, usually by not disclosing that one is liable to tax or by giving false information to the authorities. Evasion is liable to severe penalties. Compare tax avoidance …   Big dictionary of business and management

  • tax evasion — UK / US noun [uncountable] the use of illegal methods to pay less tax or to pay no tax at all • See: tax avoidance …   English dictionary


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