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Tax Evasion: A crime in itself, relationship with money laundering

  • Unique Paper ID: 163287
  • Volume: 10
  • Issue: 11
  • PageNo: 1497-1502
  • Abstract:
  • Worldwide, tax evasion is a widespread problem that affects governments, cultures, and economies. The goal of this study article is to present a thorough knowledge of the issue by exploring the complex nature of crimes associated with tax evasion. This study investigates the various aspects of tax evasion crimes, including their prevalence, contributing factors, methodologies, and repercussions. It does this by drawing on a thorough review of literature, court records, and case studies. The first section of the essay outlines the legal terminology and frameworks pertaining to tax evasion, emphasizing the differences between legitimate and illicit tax avoidance. The various tactics used by people and businesses to avoid paying taxes are then examined; these range from straightforward underreporting of income to intricate offshore schemes and money laundering operations. To understand the underlying causes of these crimes, the socioeconomic elements that propel tax evasion—such as income disparity, regulatory loopholes, and inadequate enforcement mechanisms—are examined. The study also looks at how tax evasion affects society, including how it worsens socioeconomic inequality, erodes tax collections, and reduces public confidence in government institutions. Case studies from different countries are given to show how tax fraud affects society in real time and the difficulties law enforcement has in catching offenders. The study concludes by highlighting the critical need of enacting strong regulatory measures, strengthening international collaboration, and promoting tax transparency in order to reduce the incidence of crimes associated with tax evasion. Through the promotion of a more profound comprehension of the intricacies associated with tax evasion, this study seeks to educate legislators, law enforcement officers, and other relevant parties in order to help them devise efficacious approaches to tackle this enduring problem.
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  • ISSN: 2349-6002
  • Volume: 10
  • Issue: 11
  • PageNo: 1497-1502

Tax Evasion: A crime in itself, relationship with money laundering

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