12 Facts About Tax avoidance

Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law.

Many tax avoidance devices include a combination of the three principles.

Tax avoidance arbitrage across individuals facing different tax brackets or the same individual facing different marginal tax rates at different times is an effective method of reducing tax liabilities within a family.

Two kind of anti-Tax avoidance measures exist; General Anti Avoidance Rules and Specific Anti Avoidance Rules.

The multinational anti-Tax avoidance law is an extension of Australia's general anti-Tax avoidance rules.

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Tax avoidance results depend on definitions of legal terms which are usually vague.

Tax avoidance shelters are investments that allow, and purport to allow, a reduction in one's income tax liability.

Term tax avoidance indicates a situation in which a taxpayer legally minimizes the amount of his income tax owed.

Tax avoidance wrote in an article commenting the Lux Leaks publications: “Big corporations and accountancy firms are engaged in organised hypocrisy.

Tax avoidance reduces government revenue, so governments with a stricter anti-avoidance stance seek to prevent tax avoidance or keep it within limits.

The Alternative Minimum Tax was developed to reduce the impact of certain tax avoidance schemes.

Furthermore, while tax avoidance is in principle legal, if the IRS in its sole judgment determines that tax avoidance is the 'principal purpose' for an expatriation attempt, 'covered expat' status will be applied to the requester, thereby forcing an expatriation tax on worldwide assets to be paid as a condition of expatriation.