Reality about Tax Shark

Between tax avoidance and tax evasion, there is a clear-cut difference. One of them is legally appropriate and the other is an offence. However, sadly, many consultants do not understand the difference between tax avoidance and tax evasion, even in this country. If you’re looking for more tips, Tax Shark has it for you. Most of the planning aspects that these consultants have suggested often fall into the category of tax evasion (which is illegal) and thus tend to put customers in a risky situation and reduce the value of tax planning as well.This may be one of the main reasons why customers have lost faith in tax planning consultants, as most of them have often suggested questionable systems that are clearly in the tax evasion category.I provide some examples and case studies in this chapter (including legal cases) of how tax evasion is carried out not only in this country but in many parts of the world (often suggested by consultants who claim to be specialists in tax planning). It is true that many individuals do not like to pay the government for their hard-earned money. It is not the answer, however, to do this in an illegal way, such as tax evasion. Good tax planning involves avoidance of taxes or reducing the impact of taxes. If this is done properly, in a legally acceptable manner, it can save significant amounts of money. This chapter also highlights certain practical examples of tax avoidance and case studies (including legal ones).The most important source of government funds in most countries today is the relatively recent invention of income tax, probably because the concept of annual income is itself a modern concept. Governments preferred to tax things which were easy to measure and on which the liability was therefore easy to calculate. For this reason, early taxes focused on tangible objects such as property and land, physical goods, commodities and ships, as well as things such as the number of windows or fireplaces in a building.