Tax Avoidance, in my opinion is a product of the unrecognized loopholes that are yet to be addressed in our Constitution, because contrary to Tax Evasion, these are legal tax evasive techniques. Though I still recommend just paying the right taxes, for reference sake, here are some of the known techniques to “AVOID” taxes.
Tax avoidance is the legal utilization of the tax regime to one’s own advantage, to reduce the amount of tax that is payable by means that are within the law. The term tax mitigation is not however a synonym for tax avoidance. Its original use was by tax advisors as an alternative to the pejorative term tax avoidance. The term has also been used in the tax regulations of some jurisdictions to distinguish tax avoidance foreseen by the legislators from tax avoidance which exploits loopholes in the law. The United States Supreme…
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