Tax Loophole

(redirected from Tax Loopholes)

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.
References in periodicals archive ?
2 Jimmy Carr calling for all tax loopholes to be closed.
And so to the 5 BIG QUESTIONS of the week
Senator Debbie Stabenow (D-MI) released a statement following the Senates vote on the Republican tax bill conference report: We need tax reform that puts more money in the pockets of the middle class, closes tax loopholes that send jobs overseas and supports small businesses and farms across Michiganunfortunately, this bill does none on these things.
United States : Stabenow Statement Following Vote on Republican Tax Bill Conference Report
Why doesn't this "strong and stable" Government close all tax loopholes and end the two-way tax system - pay as you earn and pay as you like?
Bank withdrawals; Letters.
He said during the campaign his canny use of tax loopholes make him smart.
Conway Says Trump Not Releasing Tax Returns
To avoid a repeat of the financial crisis, Katseli said markets need to be regulated effectively, adding that tax loopholes should be corrected.
Greece seeks to expand collaboration with UAE
All legal of course - just like those tax loopholes Ed's so angry about.
You'd clean up, John lad
Tax loopholes allow corporations to dodge taxes by hiding profits overseas in places like the Cayman Islands.
Close the 'Cayman Islands' loophole
He can easily afford the PS17million that will cost - because of his windfall this year from closing online gambling tax loopholes.
House of pain
Labour insists the PS470m set to be saved by the welfare reform could be met by closing "shady" tax loopholes.
We'll scrap 'bedroom tax', claims Miliband
According to German newspaper, Daily Sueddeutsche Zeitung, German authorities have obtained bank documents that were dated between 2007 and 2010 where Barclays had mapped out tax loopholes it had found.
-Barclays comes under investigation by German Tax Authorities
Prime Minister David Cameron will lead efforts at next month's G8 summit of world leaders to find ways of preventing multinational firms from exploiting tax loopholes.
Miliband to tackle corporate tax dodgers
Senior church leaders and representatives of West Yorkshire Ecumenical Council (WYEC) will write the letters, addressing issues of tax evasion and tax loopholes.
Church leaders call for action on tax dodgers
Financial browser ?
Full browser ?