tax loophole

tax loophole
/'tæks ˌlu:phəυl/ noun
a legal means of not paying tax

Dictionary of banking and finance. 2015.

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  • tax loophole — A legal method of reducing tax liabilities, properly called tax avoidance. Tax avoidance should not be confused with tax evasion, which is illegal and punishable by penalties, fines, and imprisonment. See tax avoidance …   Black's law dictionary

  • loophole — A technicality in some legislation or regulation that makes it possible to avoid certain consequences or circumvent a rule without breaking the law, such as in the use of a tax shelter. Bloomberg Financial Dictionary * * * loophole loop‧hole… …   Financial and business terms

  • loophole — n. 1) to find a loophole 2) to close a loophole 3) a tax loophole 4) a loophole in * * * [ luːphəʊl] a tax loophole a loophole in to close a loophole to find a loophole …   Combinatory dictionary

  • loophole — / lu:phəυl/ noun ♦ to find a loophole in the law to find a means of legally avoiding the law ♦ to find a tax loophole to find a means of legally not paying tax ▪▪▪ ‘…because capital gains are not taxed but money taken out in profits is taxed,… …   Dictionary of banking and finance

  • loophole — loop|hole [ˈlu:phəul US houl] n [Date: 1500 1600; Origin: loop hole in a wall for shooting through (14 19 centuries) + hole] a small mistake in a law that makes it possible to avoid doing something that the law is supposed to make you do… …   Dictionary of contemporary English

  • loophole — I noun alternative, aperture, contrivance, device, escape clause, escape hatch, escape valve, evasion, exception, excuse, expedient, foramen, means of escape, mechanism for evasion, opening, outlet, saving clause, uncommunicativeness, vehicle for …   Law dictionary

  • Tax avoidance and tax evasion — Tax avoidance is the legal utilization of the tax regime to one s own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by… …   Wikipedia

  • loophole — noun ADJECTIVE ▪ legal, security, tax ▪ big, gaping, glaring, huge ▪ the gaping loopholes in our gun laws …   Collocations dictionary

  • Loophole — A technicality that allows a person or business to avoid the scope of a law or restriction without directly violating the law. Used often in discussions of taxes and their avoidance, loopholes provide ways for individuals and companies to remove… …   Investment dictionary

  • Loophole — A loophole is a weakness or exception that allows a system, such as a law or security, to be circumvented or otherwise avoided. Loopholes are searched for and used strategically in a variety of circumstances, including taxes, elections, politics …   Wikipedia

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