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CFC

   Also found in: Dictionary/thesaurus, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
CFC

Controlled Foreign Corporation
A company registered in and regulated by a foreign country that has at least 50% American ownership. Setting up a corporation in a foreign country may have tax advantages; for example, a country may encourage companies to register in it by having no corporate tax. The IRS works within the context of foreign treaties to determine how earnings from controlled foreign corporations are taxed in the United States.


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In general, the proposed regulations provide that a CFC can be treated as manufacturing a product when the physical manufacturing test of subpart F is not satisfied by the CFC but where the CFC is involved in the manufacturing process.
Among other things, the proposed regulations address the application of the manufacturing exception where a controlled foreign corporation (CFC) does not satisfy the physical manufacturing test but the CFC (or its branch) is involved in the manufacturing process.
8bn tie up, Standard Bank has also finalised the recent merger of its subsidiary Stanbic Kenya with Kenya's CFC Bank in a KSh19bn ($279m) transaction.
 
 
 
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