Tax evasion vs tax avoidance: How are the two different?
Tax evasion and tax avoidance are distinct concepts, despite both aiming to minimise tax payments. Tax planning and avoidance employ legal strategies, whereas tax evasion is unlawful and can result in severe penalties. Interpreting tax evasion Tax evasion relies on deliberately deceiving tax authorities. This deceit can manifest in various ways, including: Concealing income: Not … Read more