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Companies set up subsidiaries in low or no-tax jurisdictions.
Bosal Holdings, a Dutch car-parts firm, had set up subsidiaries in other EU countries.
So why do airlines set up subsidiaries in the first place?
Foreign banks may now set up subsidiaries in India, not just branches.
Not only is its budget raided for social projects; it has also set up subsidiaries to produce, import and distribute food.
"It gave them carte blanche to go all over the world and set up subsidiaries and affiliated entities that would have been prohibited under the act".
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The planning involved setting up subsidiaries that would get the lion's share of Apple's profits on sales in Europe and Asia.
If Britain relied just on the W.T.O., firms wanting to do business in the Union would have to relocate there by setting up subsidiaries.
Amazon has gotten around sales-tax collection in California and other states by setting up subsidiaries, which it says do not constitute a physical presence.
But the Guards have found ways to circumvent existing sanctions by setting up subsidiaries and front companies that allow the organization to continue to deal with banks, shipping companies and suppliers outside Iran.
The report also found that over half of the ASX's 200 largest corporations admitted to setting up subsidiaries in tax havens, allowing many to pay substantially less than the statutory corporate tax rate of 30%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com