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English definition of “international business company”

international business company

noun [C]     ( abbreviation IBC)
TAX a legal form of company that is allowed in some countries but that does not pay tax there. An international business company has offices in a country to manage its operations abroad, but is not allowed to do business in the country itself: An international business company is best established in a low-tax or no-tax jurisdiction. → Compare offshore company, tax haven
(Definition of international business company noun from the Cambridge Business English Dictionary © Cambridge University Press)
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