Often, by moving assets or income out of one government authority into another, tax reductions can be effected. This process is called:

Question

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Moving assets or income from one government authority to another can be done by changing tax jurisdictions. This could entail moving assets or income to a jurisdiction where tax rates are lower or where specific taxes do not apply, resulting in a reduction in tax liability. Changing the timing of income recognition, changing the timing of deductions, and deferring tax payments can be effective tax planning strategies but do not involve moving assets or income between government authorities.

Often, by Moving Assets or Income Out of One Government