- controlled foreign company
- A foreign company in which a UK-resident company or individual has a 25% stake or more. The UK resident can be charged to UK tax in respect of profits from the controlled foreign company if the rate of tax paid by the foreign company is significantly less than the rate that would be payable in the UK. The tax rules applying to controlled foreign companies are very complex and are currently being reexamined as it has been argued that they contravene EU law.
Big dictionary of business and management. 2014.
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