Tax avoidance is the use of legal methods to pay the smallest possible amount of tax.
tax avoidance in British English
noun
reduction or minimization of tax liability by lawful methods
Compare tax evasion
tax avoidance in Accounting
(tæks əvɔɪdəns)
noun
(Accounting: Tax)
Tax avoidance is the act of finding lawful ways of reducing the amount of tax that you have to pay.
Tax avoidance can be achieved by taking maximum advantage of taxation allowances and reliefs.
Self-employed people have more scope for tax avoidance than people working for someone else, and they often enjoy legitimate tax breaksdenied to wage and salary earners.
Tax avoidance is the act of finding lawful ways of reducing the amount of tax that you have topay.
tax
Which word?Tax avoidance or tax evasion?Tax avoidance refers to legal methods of reducing tax payments, while tax evasion refers to illegal methods of reducing tax payments.
Examples of 'tax avoidance' in a sentence
tax avoidance
More power to force those accused of tax avoidance to pay up.
Times, Sunday Times (2014)
He denied that the film investments could be illegal or amounted to tax avoidance.
Times, Sunday Times (2012)
Companies should expect a crackdown on aggressive tax avoidance to help pay for these moves on personal tax.
Times, Sunday Times (2012)
How can you accuse a company of tax avoidance when it is doing exactly what the law tells it to do?
Times, Sunday Times (2012)
More proof that tax avoidance pays.
Times, Sunday Times (2016)
Ministers hope the new tax avoidance crusade will save 1billion a year.
The Sun (2011)
WHEN is tax avoidance a good thing?
Times, Sunday Times (2014)
Independent research established the existence of a network of accountants controlled by tax avoidance specialists called Peak Performance.