Tax Law (Noun)
Meaning
The body of laws governing taxation.
Classification
Nouns denoting groupings of people or objects.
Examples
- Tax lawyers must stay up to date with the constantly changing tax law to effectively advise their clients.
- The new tax law has generated controversy among taxpayers and lawmakers alike since its implementation.
- The country's tax law is notoriously complex and requires the help of accountants and other professionals to navigate.
- Courts and tribunals often provide explanations and interpretations of tax law to clarify the application and meaning of specific provisions.
- Understanding tax law is crucial for businesses and individuals to minimize their tax liabilities and ensure compliance with regulations.