Border Leaping
13 September 2012
No one said the rules governing controlled foreign companies would be easy - but they can be expensive. It pays to understand the exclusions
It is commonly held that controlled foreign companies (CFC) legislation affects only multinational groups or companies in tax havens. But, while Hungary and the Republic of Ireland may not spring to mind as offshore financial centres, some companies in these countries may still be caught by the CFC rules.
The rules are designed to prevent companies setting up...