What's the difference between offshore and tax?

Offshore


Definition:

  • (a.) From the shore; as, an offshore wind; an offshore signal.

Example Sentences:

  • (1) Paradoxically, each tax holiday increases the need for the next, because companies start holding ever greater amounts of their tax offshore in the expectation that the next Republican government will announce a new one.
  • (2) The country has no offshore wind farms, though a number of projects are in the research phase to determine their profitability.
  • (3) Photograph: Guardian The research also compiled data covered by a wider definition of tax haven, including onshore jurisdictions such as the US state of Delaware – accused by the Cayman islands of playing "faster and looser" even than offshore jurisdictions – and the Republic of Ireland, which has come under sustained pressure from other EU states to reform its own low-tax, light-tough, regulatory environment.
  • (4) But there is plenty here that thrills, from grand plans for offshore power production to the micro-engineeering of intelligent load management.
  • (5) A slew of figures from showbusiness, royalty and sport have also been linked with offshore companies in the documents.
  • (6) Zhang Lifan, an independent scholar, told the Associated Press that the use of offshore holdings by those with ties to officials gave a strong impression of privilege and impunity.
  • (7) Shell has pulled out of renewables: it retains a small stake in biofuels development, but the company's offshore wind business is no more.
  • (8) The Tony Abbott lecturing the American president on taxation fairness is, of course, the one who as Australian prime minister is presiding over policies of taxation amnesty for the richest Australians who have themselves offshored their hidden wealth, capping their taxable liability to merely the last four years.
  • (9) A world of hidden wealth: why we are shining a light offshore Read more However, the Nahmad lawyers have also insisted that because the painting is not in New York and the IAC is based in Panama, the court case should not be allowed to proceed in the US.
  • (10) The Double Irish loophole allows US companies, mostly in the technology and pharmaceutical sectors, to reduce their effective tax bill far below Ireland’s already generous 12.5% corporate tax rate by shifting most of their taxable income from an operating company in Ireland to another Irish-registered firm located in an offshore tax haven, such as Bermuda.
  • (11) The biggest gain for most non-doms is the allowance for tax-free offshore capital growth.
  • (12) Between them the British and the Dutch have more than two-thirds of the offshore rigs.
  • (13) In January 2007 the Guardian disclosed that BAE had used an offshore front company, Red Diamond , to secretly pay £8.4m, 30% of the radar's ostensible price, into a Swiss account.
  • (14) Oil is coating birds and delicate wetlands along the Louisiana coast, and the political fallout from the spill has reached Washington, where the head of the federal agency that oversees offshore drilling resigned today.
  • (15) The South Africans were allegedly hired by a company with close ties to Gaddafi, training his presidential guard and handling some of his offshore financial dealings.
  • (16) In a tweet, the Department of Immigration and Border Protection denied the incident took place: “Reports of a disturbance at the Manus Offshore processing centre are false.” Detainees and staff on the island insist it did take place.
  • (17) The letter also criticises the decision to move pregnant women to offshore processing .
  • (18) The reports, by the Guardian and others, based on leaked financial documents, showed that the brother-in-law of the president, Xi Jinping, and the son and son-in-law of the former premier Wen Jiabao were among more than a dozen family members of current or former leaders using offshore companies in the Caribbean .
  • (19) A new battery storage solution for offshore wind energy will be piloted from the same project, and Statoil has also followed the trend and established a New Energy division for wind power and CCS.
  • (20) Clarification: Jirehouse Capital and Stephen Jones - see Clarification and footnote Jailed British property developer Scot Young, an associate of Russian oligarch Boris Berezovsky, constructed a secret network of offshore companies to hold his assets during a multimillion-pound divorce battle, according to the International Consortium of Investigative Journalists (ICIJ's) research.

Tax


Definition:

  • (n.) A charge, especially a pecuniary burden which is imposed by authority.
  • (n.) A charge or burden laid upon persons or property for the support of a government.
  • (n.) Especially, the sum laid upon specific things, as upon polls, lands, houses, income, etc.; as, a land tax; a window tax; a tax on carriages, and the like.
  • (n.) A sum imposed or levied upon the members of a society to defray its expenses.
  • (n.) A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.
  • (n.) A disagreeable or burdensome duty or charge; as, a heavy tax on time or health.
  • (n.) Charge; censure.
  • (n.) A lesson to be learned; a task.
  • (n.) To subject to the payment of a tax or taxes; to impose a tax upon; to lay a burden upon; especially, to exact money from for the support of government.
  • (n.) To assess, fix, or determine judicially, the amount of; as, to tax the cost of an action in court.
  • (n.) To charge; to accuse; also, to censure; -- often followed by with, rarely by of before an indirect object; as, to tax a man with pride.

Example Sentences:

  • (1) Virtually every developed country has some form of property tax, so the idea that valuing residential property is uniquely difficult, or that it would be widely evaded, is nonsense.
  • (2) Not only do they give employers no reason to turn them into proper jobs, but mini-jobs offer workers little incentive to work more because then they would have to pay tax.
  • (3) Paradoxically, each tax holiday increases the need for the next, because companies start holding ever greater amounts of their tax offshore in the expectation that the next Republican government will announce a new one.
  • (4) But the wounding charge in 2010 has become Brown's creation of a structural hole in the budget, more serious than the cyclical hit which the recession made in tax receipts, at least 4% of GDP.
  • (5) We want to be sure that the country that’s providing all the infrastructure and support to the business is the one that reaps the reward by being able to collect the tax,” he said.
  • (6) Meanwhile, reductions in tax allowances on dividends for company shareholders from £5,000 down to £2,000 represent another dent to the incomes of many business owners.
  • (7) Brown's model, which goes far further than those from any other senior Labour figure, and the modest new income tax powers for Holyrood devised when he was prime minister, edge the party much closer to the quasi-federal plans championed by the Liberal Democrats.
  • (8) Writing in the Observer , Schmidt said his company's accounts were complicated but complied with international taxation treaties that allowed it to pay most of its tax in the United States.
  • (9) "There is a serious risk that a deal will be agreed between rich countries and tax havens that would leave poor countries out in the cold.
  • (10) Photograph: Guardian The research also compiled data covered by a wider definition of tax haven, including onshore jurisdictions such as the US state of Delaware – accused by the Cayman islands of playing "faster and looser" even than offshore jurisdictions – and the Republic of Ireland, which has come under sustained pressure from other EU states to reform its own low-tax, light-tough, regulatory environment.
  • (11) Cameron also used the speech to lambast one of the central announcements in the budget - raising the top rate of tax for people earning more than £150,000 to 50p from next year.
  • (12) It ignores the reduction in the wider, non-NHS cost of adult mental illness such as benefit payments and forgone tax, calculated by the LSE report as £28bn a year.
  • (13) The issue has been raised by an accountant investigating the tax affairs of the duchy – an agricultural, commercial and residential landowner.
  • (14) Proposals to increase the tax on high-earning "non-domiciled" residents in Britain were watered down today, after intense lobbying from the business community.
  • (15) We know that several hundred thousand investors are likely to want to access their pension pots in the first weeks and months after the start of the new tax year.
  • (16) Profit for the second quarter was £27.8m before tax but the club’s astronomical debt under the Glazers’ ownership stands at £322.1m, a 6.2% decrease on the 2014 level of £343.4m.
  • (17) "The Republic genuinely wishes Northern Ireland well and that includes the 12.5% corporate tax rate," he said.
  • (18) Initial analysis suggests that about one-fifth of gross costs would be directly returned to the public purse via income tax and national insurance payments.
  • (19) Gordon Brown believes that the fact of the G20 summit has persuaded many tax havens, such as Switzerland and Liechtenstein, to indicate that they will adopt a more open approach.
  • (20) This includes cutting corporation tax to 20%, the lowest in the G20, and improving our visa arrangements with a new mobile visa service up and running in Beijing and Shanghai and a new 24-hour visa service on offer from next summer.

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