loophole

A technicality in some legislation or regulation that makes it possible to avoid certain consequences or circumvent a rule without breaking the law, such as in the use of a tax shelter. Bloomberg Financial Dictionary

* * *

loophole loop‧hole [ˈluːphəʊl ǁ -hoʊl] noun [countable] LAW
a small mistake in a law that makes it possible to do something the law is supposed to prevent you from doing, or to avoid doing something that the law is supposed to make you do:

• You can be sure that any tax loopholes will be exploited.

• The administration moved to close the legal loopholes exempting government education programs from the requirements of the Bill.

* * *

loophole UK US /ˈluːphəʊl/ noun [C] LAW
a failure to include something in an agreement or law, which allows someone to do something illegal or to avoid doing something: »

They plan to close a loophole that allows businesses to avoid paying off redundant workers.

a corporate/legal/tax loophole »

He has pledged to close a tax loophole that has allowed US firms to take business and jobs abroad.

a loophole in sth »

Determined landlords found it easy to exploit loopholes in the law.


Financial and business terms. 2012.

Synonyms:
(in the wall of a fortification), , / , , , , , ,


Look at other dictionaries:

  • loophole — I noun alternative, aperture, contrivance, device, escape clause, escape hatch, escape valve, evasion, exception, excuse, expedient, foramen, means of escape, mechanism for evasion, opening, outlet, saving clause, uncommunicativeness, vehicle for …   Law dictionary

  • Loophole — Loop hole , n. 1. (Mil.) A small opening, as in the walls of fortification, or in the bulkhead of a ship, through which small arms or other weapons may be discharged at an enemy. [1913 Webster] 2. A hole or aperture that gives a passage, or the… …   The Collaborative International Dictionary of English

  • loophole — (n.) also loop hole, mid 15c., from M.E. loupe opening in a wall for shooting through or admitting light (c.1300), perhaps related to M.Du. lupen to watch, peer; + HOLE (Cf. hole) (n.). Figurative sense of outlet, means of escape is from 1660s …   Etymology dictionary

  • loophole — [n] escape alternative, escape clause, means of escape, outlet, technicality, way out; concept 102 …   New thesaurus

  • loophole — ► NOUN 1) an ambiguity or inadequacy in the law or a set of rules. 2) an arrow slit in a wall. ORIGIN from obsolete loop «embrasure» + HOLE(Cf. ↑holey) …   English terms dictionary

  • loophole — [lo͞op′hōl΄] n. [ LOOP2 + HOLE] 1. a hole or narrow slit in the wall of a fort, etc., for looking or shooting through 2. a means of escape; esp., a means of evading or escaping an obligation, enforcement of a law or contract, etc …   English World dictionary

  • loophole — n. 1) to find a loophole 2) to close a loophole 3) a tax loophole 4) a loophole in * * * [ luːphəʊl] a tax loophole a loophole in to close a loophole to find a loophole …   Combinatory dictionary

  • loophole — noun ADJECTIVE ▪ legal, security, tax ▪ big, gaping, glaring, huge ▪ the gaping loopholes in our gun laws …   Collocations dictionary

  • Loophole — A loophole is a weakness or exception that allows a system, such as a law or security, to be circumvented or otherwise avoided. Loopholes are searched for and used strategically in a variety of circumstances, including taxes, elections, politics …   Wikipedia

  • loophole — UK [ˈluːpˌhəʊl] / US [ˈlupˌhoʊl] noun [countable] Word forms loophole : singular loophole plural loopholes something that has been left out of a law or legal document that people can use to avoid obeying it He exploited a legal loophole in order… …   English dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.