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Court ruling on the Finnish CFC legislation

May 2011 - Corporate & Commercial. Legal Developments by Attorneys at law Borenius Ltd.

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The Finnish CFC legislation implies that a Finnish company may be subject to income tax for its share of the profit of a CFC regardless of whether these profits are distributed by the CFC to its shareholders or not. A CFC is defined as a foreign corporation owned and controlled by a Finnish tax resident that pays income tax in its domicile at a rate less than 60% of the Finnish corporate income tax rate.

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