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offshore corporation

   Also found in: Wikipedia 0.01 sec.

offshore corporation n. a corporation chartered under the laws of a country other than the United States. Some countries (particularly in the Caribbean) are popular nations of incorporation since they have little corporate regulation or taxes and only moderate management fees. Professional trustees and nominal officials in the country of incorporation perform routine contacts with the local government, but take no active part in management. The reasons for the use of offshore corporations are best known to the incorporators, but may include avoidance of taxes, ease of international operations, freedom from state regulation, and placement of funds in accounts out of the country.



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According to the indictment, the trio used an offshore corporation set up in Panama to pull off the tax evasion scheme.
According to the indictment, the trio used an offshore corporation set up in Panama to pull off the tax evasion scheme.
Details of elaborate offshore corporation tax avoidance schemes operated by Tesco were yesterday allowed to be introduced into evidence in a libel case the supermarket chain is bringing against the Guardian.
 
 
 
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