Concept
Tax evasion
Related concepts (16)
Tax
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to collectively fund government spending, public expenditures, or as a way to regulate and reduce negative externalities. Tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
Smuggling
Smuggling is the illegal transportation of objects, substances, information or people, such as out of a house or buildings, into a prison, or across an international border, in violation of applicable laws or other regulations. More broadly, social scientists define smuggling as the purposeful movement across a border in contravention to the relevant legal frameworks. There are various motivations to smuggle.
Tax avoidance
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. Tax avoidance should not be confused with tax evasion, which is illegal. Forms of tax avoidance that use legal tax laws in ways not necessarily intended by the government are often criticized in the court of public opinion and by journalists.
British Virgin Islands
The British Virgin Islands (BVI), officially the Virgin Islands, is a British Overseas Territory in the Caribbean, to the east of Puerto Rico and the US Virgin Islands and north-west of Anguilla. The islands are geographically part of the Virgin Islands archipelago and are located in the Leeward Islands of the Lesser Antilles and part of the West Indies. The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada and Jost Van Dyke, along with more than 50 other smaller islands and cays.
Boris Johnson
Alexander Boris de Pfeffel Johnson (ˈfɛfəl, born 19 June 1964) is a British politician and writer who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 2019 to 2022. He previously served as Foreign Secretary from 2016 to 2018 and as Mayor of London from 2008 to 2016. He was Member of Parliament (MP) for Uxbridge and South Ruislip from 2015 to 2023, having previously been MP for Henley from 2001 to 2008. Johnson attended Eton College and studied Classics at Balliol College, Oxford.
Corruption
Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one's personal gain. Corruption may involve many activities which include bribery, influence peddling and the embezzlement and it may also involve practices which are legal in many countries. Political corruption occurs when an office-holder or other governmental employee acts with an official capacity for personal gain.