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Tax Evasion
The illegal practice of not paying taxes by not reporting income, reporting expenses not legally allowed, or by not paying taxes owed.
Corporate Profits Tax
A tax imposed on the income or profit earned by corporations.
Equilibrium
A state of balance or stability within a system, where all forces acting upon the system are equal and opposite, leading to no net change.
Tax Incidence
The study of who ultimately bears the burden of a tax, which can differ from who the tax is initially levied upon.
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