English version


From Longman Business Dictionary
Related topics: Finance, Tax
underreportun‧der‧re‧port /ˌʌndərɪˈpɔːt-ˈpɔːrt/ verb [transitive]1ACCOUNTINGto calculate a figure wrongly, and so produce a figure that is less than the real oneThe study estimated that the U.S. underreports its exports of goods by $10 billion to $20 billion annually.2American EnglishTAX to say that your income is less than it really is on your TAX RETURNunderreported adjectiveAbout $100 billion in taxes weren’t paid because of underreported income.
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