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internal company tax returns

Chinese translation: 公司內部(各分部)的報稅表

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:internal company tax returns
Chinese translation:公司內部(各分部)的報稅表
Entered by: Shaojie Huang
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08:08 Aug 7, 2006
English to Chinese translations [PRO]
Bus/Financial - Economics / tax
English term or phrase: internal company tax returns
In one recent case the Chilean regulator demanded internal company tax returns to investigate transfer pricing and the understatement of profit margins.

(I also have trouble with "transfer", please.)
Shaojie Huang
China
Local time: 00:05
公司內部(各分部)的報稅表
Explanation:
transfer pricingTransfer pricing refers to the pricing of goods and services within a multi-divisional organization. Goods from the production division may be sold to the marketing division, or goods from a parent company may be sold to a foreign subsidiary. The choice of the transfer prices affects the division of the total profit among the parts of the company. It can be advantageous to choose them such that, in terms of bookkeeping, most of the profit is made in a country with low taxes. However, most countries have tax laws and regulations that limit how transfer prices can be set. Most countries adhere to the arm's length principle as defined in the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. In the U.S. the pricing of transactions between related parties that are reported for tax purposes are governed by Section 482 of the Internal Revenue Code and the regulations thereunder.

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pkchan
United States
Local time: 12:05
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Thank you all for this nice learning experience!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4FYIPhilip Tang
4公司內部(各分部)的報稅表
pkchan
4企业内部退税
stonejohn


  

Answers


32 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
企业内部退税


Explanation:
企业内部退税



stonejohn
China
Local time: 00:05
Works in field
Native speaker of: Chinese
Notes to answerer
Asker: Thanks

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9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
公司內部(各分部)的報稅表


Explanation:
transfer pricingTransfer pricing refers to the pricing of goods and services within a multi-divisional organization. Goods from the production division may be sold to the marketing division, or goods from a parent company may be sold to a foreign subsidiary. The choice of the transfer prices affects the division of the total profit among the parts of the company. It can be advantageous to choose them such that, in terms of bookkeeping, most of the profit is made in a country with low taxes. However, most countries have tax laws and regulations that limit how transfer prices can be set. Most countries adhere to the arm's length principle as defined in the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. In the U.S. the pricing of transactions between related parties that are reported for tax purposes are governed by Section 482 of the Internal Revenue Code and the regulations thereunder.



pkchan
United States
Local time: 12:05
Native speaker of: Native in ChineseChinese
PRO pts in category: 10
Grading comment
Thank you all for this nice learning experience!
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10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
FYI


Explanation:
The “internal company tax returns” and “transfer pricing” are very much related.

This would typically happen in a Parents company and Subsidiary relationship – say a U.S. parents company (a manufacturer) and a 100% owned China subsidiary company (a marketing operation), where the manufacturer would sell goods to its subsidiary at an arbitrary price (called internal transfer price) which shows no profit at the states side, while the marketing operation in China would be paying local profit tax at a lower rate than that of U.S. profit tax provision.

I am not a certified accountant, but I believe the U.S. company is obliged to make a “joint company tax returns” to include the accounting details of its overseas subsidiary. Perhaps this is what it calls “internal company tax returns”

How does it called in Chinese is beyond my knowledge.


Philip Tang
China
Local time: 00:05
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in ChineseChinese
PRO pts in category: 4
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