Glossary entry (derived from question below)
Flemish term or phrase:
schermvennootschap
English translation:
shell company, brass plaque company, etc.
Added to glossary by
Willemina Hagenauw
Jan 12, 2010 11:34
14 yrs ago
Flemish term
30+ years experience - accurate and fast
Native in: Dutch 
Works in: English to Dutch, Dutch to English, Flemish to English
schermvennootschap
Flemish to English
Bus/Financial
Law: Taxation & Customs
corporate tax
This is a company that people set up to get better tax deals. Does anyone know the proper English expression?
Proposed translations
(English)
| 4 +1 | shell company, brass plaque company, etc. |
Chris Hopley
|
| 3 +1 | Screen company |
Kate Hudson (X)
|
Proposed translations
+1
2 hrs
Chris Hopley
Netherlands
Netherlands
Native in English
Specializes in field
Netherlands
Dutch & German to English
Native in: English (Variants: British, UK, Irish, US, Australian, Canadian, New Zealand)
Works in: German to English, Dutch to English, Flemish to English, and 1 more.
Related KudoZ points
:
4
Selected
shell company, brass plaque company, etc.
This is a company that is set up to avoid tax or obscure the source of particular revenue streams, for example.
-> "Hiermee waste hij geld wit dat volgens politionele bron afkomstig was uit activiteiten in het kader van georganiseerde misdaad. Op de rekening van deze vennootschap vond er geen andere verrichting plaats, waardoor er kan afgeleid worden dat dit een schermvennootschap was die enkel met het oog op deze verrichting werd opgericht."
http://www.ctif-cfi.be/doc/nl/typo_ctif_cfi/NL1237bnl.pdf
-> "A shell corporation or shell company is a company which serves as a vehicle for business transactions without itself having any significant assets or operations. Shell corporations are not in themselves illegal and they may have legitimate business purposes. However, they are a main component of the underground economy, especially those based in tax havens. They may also be known as International Business Corporations (IBCs), Personal Investment Companies (PICs), front companies, or "mailbox" companies."
http://en.wikipedia.org/wiki/Shell_corporation
See also previous question 'société écran' in FR-EN: http://www.proz.com/kudoz/french_to_english/law:_taxation_cu...
-> "Hiermee waste hij geld wit dat volgens politionele bron afkomstig was uit activiteiten in het kader van georganiseerde misdaad. Op de rekening van deze vennootschap vond er geen andere verrichting plaats, waardoor er kan afgeleid worden dat dit een schermvennootschap was die enkel met het oog op deze verrichting werd opgericht."
http://www.ctif-cfi.be/doc/nl/typo_ctif_cfi/NL1237bnl.pdf
-> "A shell corporation or shell company is a company which serves as a vehicle for business transactions without itself having any significant assets or operations. Shell corporations are not in themselves illegal and they may have legitimate business purposes. However, they are a main component of the underground economy, especially those based in tax havens. They may also be known as International Business Corporations (IBCs), Personal Investment Companies (PICs), front companies, or "mailbox" companies."
http://en.wikipedia.org/wiki/Shell_corporation
See also previous question 'société écran' in FR-EN: http://www.proz.com/kudoz/french_to_english/law:_taxation_cu...
4 KudoZ points awarded for this answer.
Comment: "Many thanks Chris, this was what I was looking for. Also thanks to Kate for your suggestion!"
+1
18 mins
Screen company
Screen Company:
A company incorporated in a country which charges a nil or low rate of tax on receipts or distributions of interest, dividends or royalties received from another country, taking advantage of a favourable double taxation agreement between two countries which reduces the tax withheld at source in the country in which the income arises.
A company incorporated in a country which charges a nil or low rate of tax on receipts or distributions of interest, dividends or royalties received from another country, taking advantage of a favourable double taxation agreement between two countries which reduces the tax withheld at source in the country in which the income arises.
Reference:
Peer comment(s):
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jarry (X)
36 mins
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