Tax Evasion Vs Tax Avoidance: Definition & Explanation
December 19, 2022 ⚊ 1 Min read ⚊ Views 135 ⚊ BLOG
Tax evasion is a type of tax fraud that involves the use of illegal methods to conceal income or information from the HMRC or another tax authority in order to avoid the assessment or payment of taxes. Tax evasion is a form of tax avoidance.
Tax evasion can take many forms, including the intentional underreporting or non-reporting of income, the concealment of taxable assets, and the falsely claiming of tax deductions, credits, or deductions to which the taxpayer is not entitled.
Tags: accountingfirmsinuk, tax avoidance, tax evasion
