Controlled Foreign Companies Law and Legal Definition
Controllled Foreign Companies (CFC) are usually located in low tax jurisdictions, that are controlled by a resident shareholder. CFC legislation is usually designed to combat the sheltering of profits in companies resident in low- or no-tax jurisdictions. An essential feature of such regimes is that they attribute a proportion of the income sheltered in such companies to the shareholder resident in the country concerned. Generally, only certain types of income fall within the scope of CFC legislation, i.e. passive income such as dividends, interest and royalties.
Legal Definition list
Related Legal Terms
- Administering a Controlled Substance
- Adoption Record [Foreign Relations]
- Adoption Service [Foreign Relations]
- Affect Interstate And Foreign Commerce
- Agency or Instrumentality of a Foreign State
- Agent of a Foreign Power
- Agent of a Foreign Principal
- American Foreign Policy Council [AFPC]
- Authorized Possession of Controlled Substances
- Automated Foreign Trade Zone Reporting Program
