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Tax evasion
01
the illegal acts done to pay less tax than what is owed or to avoid paying taxes altogether
Example
Tax evasion schemes often involve complex arrangements and shell companies to conceal income and assets from tax authorities.
Tax evasion deprives governments of vital revenue needed to fund essential services such as education, healthcare, and infrastructure.
The government implemented stricter penalties for tax evasion in an effort to deter individuals and corporations from engaging in fraudulent tax practices.
The wealthy businessman was convicted of tax evasion after it was discovered that he had hidden millions of dollars in offshore accounts.
The accountant was charged with aiding and abetting tax evasion by advising clients on illegal methods to evade taxes.
