Abatement of tax

Abatement of tax – within the meaning, given by the Tax Law, this is considered to be a reduction which the debtor of tax, payable to their creditors may claim. Usually, debtors ask for such reduction when prescription deadlines for forcible collecting of the debt have expired. And they seek for reduction of the whole debt in this way, to reduce the tax burden on them.

Synonyms of “abatement” are “reduction” and “discount”.

See also “Abatement”

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