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"Minimisation and avoidance are of course different" Minimisation is avoidance surely? It's tax evasion that's illegal. Any legal means of reducing your tax bi
by analog 14y ago
"Minimisation and avoidance are of course different"
Minimisation is avoidance surely? It's tax evasion that's illegal. Any legal means of reducing your tax bill is avoidance.
- gregsq 14y agoI see what you are saying. Evasion is avoidance by deceit. However minimisation is defined as reducing something to a least possible amount, and so cannot be avoidance, or combined with deceit, evasion, if that least possible amount is determined by measure of its legality.
- analog 14y agoNo, they're actually technical terms. Tax avoidance is minimising your tax liabilities through legal means. Tax evasion is just not paying, not declaring, all sorts of fraud etc.