Tax Compliance
/ˈtæks kəmˈplaɪəns/
Definitions
- (n.) The act or state of conforming to tax laws and regulations by accurately reporting income, expenses, and paying owed taxes.
The company ensured tax compliance by submitting all required documents on time.
Related terms
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Commentary
Tax compliance is critical to avoid penalties; clear documentation and timely filings aid compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.