loop ‧ hole /ˈluːphəʊl $ -hoʊl/ BrE AmE noun [countable]
[ Date: 1500-1600 ; Origin: loop 'hole in a wall for shooting through' (14-19 centuries) + hole ]
a small mistake in a law that makes it possible to avoid doing something that the law is supposed to make you do
legal/tax loophole
loophole in
a loophole in the law
• • •
COLLOCATIONS
■ verbs
▪ close/plug a loophole (=change something so that there is no longer a loophole)
The president is eager to close tax loopholes for foreign companies.
▪ find a loophole
Some lawyers spend their time simply finding loopholes in existing contracts.
▪ use/exploit a loophole
Airlines may be exploiting legal loopholes in order to employ pilots trained outside the US.
▪ a loophole allows/enables something
Security loopholes allowed the terrorists to plant the bombs unnoticed.
■ ADJECTIVES/NOUN + loophole
▪ a legal loophole
The new law closed a number of legal loopholes.
▪ a tax loophole
The government lost billions because of a tax loophole.
▪ a gaping loophole (=a very large loophole)
There is a gaping loophole in the ban on arms sales to poor countries.