Japan and Other Countries
Japan taxes shareholders of foreign corporations where the operation of such corporation results in no or minimal foreign tax. However, there is a waiver where the foreign corporation conducts a substantial business. New Zealand and Sweden each have CFC rules, following a "grey list" and a "white list" approach, respectively. Numerous other countries have CFC rules. Australia has CFC rules similar to UK rules, but relies more on a "white list" of safe countries.
Read more about this topic: Controlled Foreign Corporation
Famous quotes containing the words japan and/or countries:
“I do not know that the United States can save civilization but at least by our example we can make people think and give them the opportunity of saving themselves. The trouble is that the people of Germany, Italy and Japan are not given the privilege of thinking.”
—Franklin D. Roosevelt (1882–1945)
“All my life I have lived and behaved very much like [the] sandpiper—just running down the edges of different countries and continents, “looking for something” ... having spent most of my life timorously seeking for subsistence along the coastlines of the world.”
—Elizabeth Bishop (1911–1979)