schermvennootschap
English translation: shell company, brass plaque company, etc.
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| 11:34 Jan 12, 2010 |
| Flemish to English translations [PRO] Bus/Financial - Law: Taxation & Customs / corporate tax | |||||||
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|  Selected response from: Chris Hopley Netherlands Local time: 06:28 | ||||||
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| 4 +1 | shell company, brass plaque company, etc. |
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| 3 +1 | Screen company |
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Answers
18 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1Screen company Explanation: Screen Company: A company incorporated in a country which charges a nil or low rate of tax on receipts or distributions of interest, dividends or royalties received from another country, taking advantage of a favourable double taxation agreement between two countries which reduces the tax withheld at source in the country in which the income arises. Reference: http://taxhavenco.com/glossary.html |
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2 hrs confidence: peer agreement (net): +1
peer agreement (net): +1shell company, brass plaque company, etc. Explanation: This is a company that is set up to avoid tax or obscure the source of particular revenue streams, for example. -> "Hiermee waste hij geld wit dat volgens politionele bron afkomstig was uit activiteiten in het kader van georganiseerde misdaad. Op de rekening van deze vennootschap vond er geen andere verrichting plaats, waardoor er kan afgeleid worden dat dit een schermvennootschap was die enkel met het oog op deze verrichting werd opgericht." http://www.ctif-cfi.be/doc/nl/typo_ctif_cfi/NL1237bnl.pdf -> "A shell corporation or shell company is a company which serves as a vehicle for business transactions without itself having any significant assets or operations. Shell corporations are not in themselves illegal and they may have legitimate business purposes. However, they are a main component of the underground economy, especially those based in tax havens. They may also be known as International Business Corporations (IBCs), Personal Investment Companies (PICs), front companies, or "mailbox" companies." http://en.wikipedia.org/wiki/Shell_corporation See also previous question 'société écran' in FR-EN: http://www.proz.com/kudoz/french_to_english/law:_taxation_cu... |
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