A person or company utilizing a loophole
isn’t considered to be breaking the law
but circumventing it in a way that was not intended by the regulators or legislators that put the law or restriction into place.
Are loopholes ethical?
Loopholes in codes and rules can impact both acts and omissions. … Loophole ethics can be based on what the code in question forbids or requires: Loophole ethics for acts: As the set of codes, rules, or regulations does not forbid this option, it is
ethically permissible to
pursue it.
What are the loopholes in law?
In a loophole,
a law addressing a certain issue exists, but can be legally circumvented due to a technical defect in the law
, like when it is not specified. A lacuna, on the other hand, is a situation in which no law exists in the first place to address that particular issue.
How do you find loopholes in everything?
- Know Your Destination. Before you become a master of identifying loopholes, you have to make sure you clearly define your end goals. …
- Map Out Possible Solutions. …
- Identify Your Vehicle. …
- Use Your Mirrors. …
- Put the Top Down.
What are examples of loopholes?
An example of a loophole is
a tiny narrow window in a castle used to shoot through at enemies
. An example of a loophole is a person not having to pay a certain tax because of the location of their second home. A slit in a castle wall. Later: any similar window for shooting a weapon or letting in light.
Why is it called a loop hole?
Where does loophole come from? The first records of loophole come around 1585. It combines loop,
meaning “something folded on itself, leaving an opening between parts
,” with hole, meaning “an opening.” Originally loophole referred to holes in castles or forts that archers could shoot arrows through.
What is a loophole in a castle?
The loopholes, arrow loop or arrowslit passes through a solid wall is thus
an embrasure of shooting order to allow archer or gunner weapons to be fired out from the fortification while the firer remains under cover
.
Whats the meaning of loopholes?
1 : a means of escape especially : an ambiguity or omission in the text through which the intent of a statute, contract, or obligation may be evaded. 2a : a small opening through which small arms may be fired. b : a similar opening to admit light and air or to permit observation. loophole.
What are loopholes in websites?
- SQL Injections. …
- Cross Site Scripting (XSS) …
- Broken Authentication & Session Management. …
- Insecure Direct Object References. …
- Security Misconfiguration. …
- Cross-Site Request Forgery (CSRF)
What’s the opposite of loophole?
| blockage closure | obstruction occlusion | plug seal | stoppage agreement | closing conclusion |
|---|
What are the tax loopholes for the rich?
The stepped-up basis loophole
lets wealthy people avoid ever paying tax on their gains
. Under the provision known as stepped-up basis, if an individual holds an asset for his entire life, when he passes it on to an heir, the gain is completely wiped out and capital gains taxes will never need to be paid on it.
What is legal tax avoidance?
Tax avoidance is
the use of legal methods to minimize the amount of income tax owed by an individual or a business
. This is generally accomplished by claiming as many deductions and credits as are allowable.
What is a loophole door?
Vertical series of doors each set above the other in a warehouse wall in tiers
, usually with hinged drop-platforms and with a pulley above the series so that goods could be hoisted up and swung into storage through the doors.
What is a loophole window?
Loop: a loophole. Loop window:
A long, narrow, vertical opening, usually widening inward, cut in a medieval wall, parapet, or fortification for use in by archers
; an arrow loop. A Gothic castle style feature.
What is a tax loophole?
A provision in the laws governing taxation that allows people to reduce their taxes
. The term has the connotation of an unintentional omission or obscurity in the law that allows the reduction of tax liability to a point below that intended by the framers of the law.
What is a loophole in a wall?
The loopholes, arrow loop or arrowslit passes through a solid wall is thus
an embrasure of shooting order to allow archer or gunner weapons to be fired out from the fortification while the firer remains under cover
. … There are embrasures especially in fortified castles and bunkers.
