tax evasion
Plural
tax evasions
1
the illegal acts done to pay less tax than what is owed or to avoid paying taxes altogether
- The wealthy businessman was convicted of tax evasion after it was discovered that he had hidden millions of dollars in offshore accounts.
- Tax evasion deprives governments of vital revenue needed to fund essential services such as education, healthcare, and infrastructure.
- The government implemented stricter penalties for tax evasion in an effort to deter individuals and corporations from engaging in fraudulent tax practices.
- Tax evasion schemes often involve complex arrangements and shell companies to conceal income and assets from tax authorities.
- The accountant was charged with aiding and abetting tax evasion by advising clients on illegal methods to evade taxes.