Written by London Global Solutions ltd    Saturday, 01 November 2008 12:32    PDF Print E-mail
Trade financed by LC, that is no capital contribution
This company is designed to be used mainly by people engaged in import and export trading activities. The company is exempted from taxation, and hence adequate for repatriation of funds back to the beneficial owners’ country of residence. The net effect is taxation in only one state that is the domicile of residence. It is a limited liability company, which has as its name implies limited liability. Ownership is confidential. Back to back LC’s using local trading commercial bank provides leverage for capital contribution by promoters. With consideration to transfer pricing rules, this company can effectively be used for transfer pricing between the importing state and the exporting state.
Last Updated ( Tuesday, 02 December 2008 09:56 )
 

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