Credit Cave

Taxation has been a hot topic for as long as civilizations have existed. Where there is a government there is a taxation of the people for services provided.

The problem is that many people are easily, and increasingly, disaffected by the lack of tax-funded services provided such as health and education. As a result, many people have tried to either reduce their tax bills legally or evade their obligation to pay taxes illegally.

Defining tax avoidance and evasion.

• Tax avoidance - minimizing your taxes within legally working within the bounds of tax legislation to reduce tax
• Tax evasion - taking illegal measures to evade paying tax, punishable by law

Most people on an average salary will simply pay out what they owe to the IRS, get it over and done with and then get on with life. Others take reducing their tax bill a lot more seriously and go as far as setting up fake corporations, banking offshore in tax-free havens and even becoming a citizen in another country.

Will Rogers, the famed American humorist, put it nicely:

“The income tax has made more liars out of the American people than golf has. Even when you make a tax form out on the level, you don’t know when it’s through if you are a crook or a martyr.”

So without further ado, here’s a list of 9 huge tax frauds from around the world.

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