mixer company
mixer company
a subsidiary of a MULTINATIONAL ENTERPRISE (MNE) located in a low CORPORATION TAX country which ‘collects’ profits remitted from the MNEs other worldwide manufacturing and sales subsidiaries with the aim of minimizing its global tax bill. Usually under ‘double taxation’ treaties between countries once tax has been paid in one country no further liabilities are due when the profits are then remitted on to the MNEs parent company. However, under proposals introduced in its budget of 2000 the UK government indicated that it intends to tackle what it sees as tax evasion by imposing a tax ‘surcharge’ on profits sent back to the UK-based parent companies to bring the tax charge up to the UK's main corporation tax rate (currently 30%). See TRANSFER PRICE, TAX HAVEN.Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
mixer company
a subsidiary of a MULTINATIONAL COMPANY (MNC) located in a low CORPORATION TAX country that collects’ profits remitted from the MNC's other worldwide manufacturing and sales subsidiaries with the aim of minimizing its global tax bill. Usually, under ‘double taxation’ treaties between countries, once tax has been paid in one country no further liabilities are due when the profits are then remitted on to the MNC's parent company However, under proposals introduced in its budget of 2000, the UK government has indicated that it intends to tackle what it sees as tax evasion by imposing a tax ‘surcharge’ on profits sent back to UK-based parent companies to bring the tax charge up to the UK's main corporation tax rate (currently 30%). See TRANSFER PRICE, TAX HAVEN.Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005