Entity: TAX-EVASION
Tax evasion refers to the illegal act of paying less tax than required by law, often through deceptive or fraudulent means.
Tax Evasion
Etymology
The term 'tax evasion' originates from the combination of 'tax,' referring to mandatory financial contributions imposed by governments, and 'evasion,' indicating the act of avoiding or escaping something.
Definition
Tax evasion is the willful and criminal attempt to evade the payment or imposition of taxes by underreporting income, using illegal schemes, or other deceptive means.
Historical Context
Throughout history, tax evasion has been a prevalent issue, leading to various legal measures and penalties to combat this illegal practice.
Cultural Significance
Tax evasion has significant implications on government revenue, public services, and overall economic stability, often resulting in legal consequences for individuals or organizations involved.
Related Concepts
Tax avoidance, which involves legally minimizing tax liabilities through strategic financial planning, is distinct from tax evasion but can also raise ethical and legal concerns.
See Also
- Tax avoidance
- Tax fraud
- White-collar crime
A deliberate and often criminal attempt to avoid paying taxes in full by underreporting income or using illegal schemes.