Richard Cornelisse

What is considered tax avoidance

In Indirect Tax Strategic Plan, tax avoidance on 15/11/2016 at 12:08 am

Tax avoidance is an attempt to exploit legislation to gain a tax advantage that was never intended. This often involves artificial transactions that serve little or no purpose other than to produce a tax advantage.

But tax avoidance is not the same as tax planning, which involves applying tax legislation in the way it was intended – for example saving in an ISA (Individual Savings Account) where you don’t pay tax on the interest.

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