Tax evasion

financial crime

Tax evasion is criminal activity to evade taxes. It may be done by trusts, persons or organizations. The main way taxpayers evade taxes is by deliberately misrepresenting the actual state of their affairs to tax authorities to reduce their tax liability. This includes dishonest tax reporting, such as declaring less income or profit than the amounts which were actually earned. Tax evasion is an activity connected with the informal economy.

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