digital currencies and tax evasion
Digital currencies refer to virtual, intangible money that is not issued or regulated by any central authority, such as cryptocurrencies like Bitcoin. Tax evasion, on the other hand, involves deliberate actions taken by individuals or entities to intentionally conceal or underreport their income and assets in order to avoid paying taxes. The combination of digital currencies and tax evasion implies the use of virtual currencies to facilitate illicit activities, including hiding taxable income or transferring money anonymously, thus evading tax obligations.
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