Tax Loophole

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Tax Loophole

A deliberate or accidental provision in tax law that allows an individual or corporation to be exempt from some provision. Most loopholes are deliberate and are created to ensure that the law is not draconian, to please a lobbyist, or for some other reason. For example, a country may pass a law requiring most companies to pay taxes on their net assets each year. However, it may contain a loophole allowing the exemption of companies that would find this tax too difficult or expensive. Occasionally, the government may close a loophole, which means that it takes away the exemption.

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No references found			Byline: ANDREW GREGORY PRINCE Andrew sparked outrage last night by backing a tax loophole that will see his "mega-rich pals" pocket millions. PRINCE'S 'TAX DODGE' ROW by The Mirror (London, England) He said: "My priority is to cut tax for those on low and middle incomes, paid for by closing tax loopholes and privileges enjoyed by the relatively wealthy. LIB DEM TAX HIKE FOR RICH by Liverpool Echo (Liverpool, England) The cuts are part of the administration's revenue proposals under the 2010 budget that also aims to close hundreds of billions of dollars in tax loopholes, including 31 billion dollars in tax breaks for oil companies and 86. White House plans 836 bln dlrs in tax cuts over 10 years by AFP / AFP American Edition			Tax Deferred Tax Deposit Tax Deposit Certificate tax depreciation Tax Differential View Tax Differential View of Dividend Policy Tax Equity And Fiscal Responsibility Act of 1982 Tax Equity and Fiscal Responsibility Act of 1983 tax evasion Tax Exempt tax exemption Tax Exile Tax Expenditure tax ferret tax foreclosure Tax Free Acquisition Tax Haven Tax Haven Affiliate Tax Holiday tax home Tax Identification Number tax indexing Tax Liability tax lien Tax Lien Certificate Tax Loophole Tax Loss Tax Loss Carryback Tax loss carryback, carryforward Tax Loss Carryforward Tax Loss Harvesting Tax Lot Accounting Tax Map tax maps tax on sale of home Tax Opinion Tax Planning Tax Preference Item tax preference items Tax Preparation Services tax rate Tax Rate Schedules tax redemption Tax Reduction Strategy Tax Reform Act of 1976 Tax Reform Act of 1984 Tax Reform Act of 1986 Tax Reform Act of 1993 Tax Refund Tax Return tax roll			Tax Information Phone Service Tax Injunction Act tax inspector tax inspectors Tax Installment Payment Plan Service Tax Instalment Deduction Tax Institute for Colleges and Universities Tax Interpretation Circulars Tax Justice Focus Tax Justice Network tax law Tax Law and Policy Abstracts Tax Law Improvement Act Tax Law Improvement Bill Tax Legal and Business Advisory Tax Legislation Tax levy Tax levy Tax levy Tax levy Tax Liabilities Tax Liabilities tax liability tax liability tax lien tax lien Tax Lien Certificate Tax Lien Certificates Tax liens Tax liens Tax Loophole Tax Loopholes tax loss tax loss tax loss carryback tax loss carryback Tax loss carryback, carryforward Tax Loss Carrybacks Tax Loss Carrybacks tax loss carryforward Tax Loss Carrying Forward Tax loss harvesting Tax Loss Reserve Fund Tax Loss Selling tax losses tax losses Tax Lot Accounting tax man Tax Managed Mutual Fund Tax Managed Mutual Funds Tax Management and Collection System Tax Management International Journal Tax Management New Zealand Tax Management System Tax Management Weekly Report Tax Manager 2000 Tax Map Tax Map Key Tax Map Sequence Number

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