The arrangement of one’s financial affairs to minimize tax liability within the law. Compare with tax evasion.
- Tyco International's acquisition accounting and offshore tax avoidance practices are also under scrutiny.
- The chancellor has already clamped down on tax avoidance by targeting complex arrangements, such as double trusts.
- In doing so, the individual takes account of personalised needs, maximum tax avoidance, investment options, and so forth.
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