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Meaning of “loophole” in the English Dictionary

"loophole" in American English

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loopholenoun [C]

 us   /ˈlupˌhoʊl/
an opportunity to legally avoid an unpleasant responsibility, usually because of a mistake in the way rules or laws have been written: The new law is designed to close most of the tax loopholes.
(Definition of loophole from the Cambridge Academic Content Dictionary © Cambridge University Press)

"loophole" in Business English

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loopholenoun [C]

uk   us   /ˈluːphəʊl/ 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.
(Definition of loophole from the Cambridge Business English Dictionary © Cambridge University Press)
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