Definition of “loophole” - 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 /ˈluːphəʊl/ us 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)