tax loophole

1. A provision in the laws governing taxation that allows people to reduce their taxes. The term has the connotation of an unintentional omission or obscurity in the law that allows the reduction of tax liability to a point below that intended by the framers of the law.

Example Sentences

In prior California ballot initiatives, Steyer successfully supported efforts to close a corporate tax loophole and to raise tobacco taxes, and fought oil-industry-backed efforts to roll back environmental law.

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The FT has reported that the government may close a tax loophole which UK firms argue gives an unfair advantage to foreign online retailers like Shein.

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The so-called "de minimis" tax loophole faced increased scrutiny in recent years as Chinese e-commerce giants like Shein and Temu to reach millions of US customers.

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The loan charge was implemented to close a tax loophole and recover backdated taxes but has left many freelance workers facing large bills.

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Robert Martin, national chairman at the Tenant Farmers Association, said the committee the plan to close the tax loophole - involving wealthy people avoiding inheritance tax by buying up farmland - would not work because capital gains tax rollover relief for agricultural businesses had been left in place.

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