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Updated: Aug 20, 2021

Taking legally permissible actions to reduce a liability. For example, tax avoidance is the reduction of tax liability by taking actions such as offshore investment. In principle, avoidance can be distinguished from evasion, which involves taking illegal actions to reduce a liability. In practice, the borderline between avoidance and evasion is not clear and can only be determined by court ruling.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.