undertax
Charge too little
To undertax is to tax at a rate lower than appropriate or expected.
The word typically appears in policy discussions about whether certain groups or activities bear their fair share of the tax burden: Critics argue we undertax corporations while overtaxing workers.
The noun undertaxation describes a state of insufficient taxation.
Failure to reach quota
- deficitAmount still owed
- budget gapSpending-income mismatch
- underfundingInadequate monetary allocation
- lost revenueIncome not captured
funding gap · public services · austerity · debt · welfare cuts · education funding · healthcare budget
Exploitable ambiguities in rules
- exemptionsReleases from obligation
- deductionsConclusions from reasoning
- creditsUnits toward graduation
- breaksSplits or pauses
rebates · shelters · write-offs · incentives · allowances · concessions · abatements · reliefs
Release from requirement
- deductionConclusion from premises
- rebateReturned portion of payment
- discountReduced price offered
- allowanceFixed periodic payment
credit · write-off · concession · break · abatement · alleviation · lightening · reprieve
Away from land
- shell companiesLegally registered but inactive businesses
- concealmentAct of hiding something
- fraudIntentional criminal trickery
- unreported incomeMoney not disclosed officially
noncompliance · Panama Papers · Swiss accounts · Cayman Islands · money laundering · audit · underreporting · fiscal evasion
Estimate below true worth
- underestimateJudge too low
- underreportDeclare less than occurred
- understateExpress with restraint
- miscalculateCompute incorrectly
shortfall
Failure to reach quota
- deficitAmount still owed
- budget gapSpending-income mismatch
- underfundingInadequate monetary allocation
lost revenue · funding gap · public services · austerity · debt · welfare cuts · education funding · healthcare budget
loopholes
Exploitable ambiguities in rules
- exemptionsReleases from obligation
- deductionsConclusions from reasoning
- creditsUnits toward graduation
breaks · rebates · shelters · write-offs · incentives · allowances · concessions · abatements · reliefs · preferential
exemption
Release from requirement
allowance · credit · write-off · concession · break · abatement · alleviation · lightening · reprieve · respite
offshore
Away from land
- shell companiesLegally registered but inactive businesses
- concealmentAct of hiding something
- fraudIntentional criminal trickery
unreported income · noncompliance · Panama Papers · Swiss accounts · Cayman Islands · money laundering · audit · underreporting · fiscal evasion · hidden assets
undervalue
Estimate below true worth
- underestimateJudge too low
- underreportDeclare less than occurred
- understateExpress with restraint
undertaxovertax
Burden beyond capacity
overburden · overtaxation · surtax · squeeze · gouge