Economics

Economics

basics of economics

Industry: Economy

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Economics

Tax arbitrage

Economy; Economics

Creating financial instruments or transactions that allow the parties involved to exploit loopholes in or differences between their tax exposures, so that all involved pay less tax.

Tax avoidance

Economy; Economics

Doing everything possible within the law to reduce your tax bill. Learned Hand, an American judge, once said: "There is nothing sinister in so arranging one's affairs as to keep taxes as low as ...

The thing or amount to which a tax rate applies. To collect income tax, for example, you need a meaningful definition of income. Definitions of the tax base can vary enormously, over time and among ...

Tax burden

Economy; Economics

Total tax paid in a period as a proportion of total income in that period. It can refer to personal, corporate or national income.

Tax competition

Economy; Economics

Low-tax policies pursued by some countries in the hope of attracting international businesses and capital. Economists usually favour competition in any form. But some say that tax competition is ...

Tax efficient

Economy; Economics

From the point of view of the taxpayer, the way of undertaking an economic activity that results in the lowest (legitimate) tax bill.

Tax evasion

Economy; Economics

Paying less tax than you are legally obliged to. Contrast with tax avoidance. There may be a thin line between the two, but as Denis Healey, a former British chancellor, once put it, "The difference ...