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)
“Fame sometimes hath created something out of nothing. She hath made whole countries more than nature ever did, especially near the poles, and then hath peopled them likewise with inhabitants of her own invention, pigmies, giants, and amazons: yea, fame is sometimes like unto a mushroom, which Pliny recounts to be the greatest miracle in nature, because growing and having no root, as fame no ground of her reports.”
—Thomas Fuller (1608–1661)