Dictionary Well-liked Legal Phrases: N
Courts are usually reluctant to pierce the corporate veil, and that is solely carried out when legal responsibility is imposed to reach an equitable result. The representative office is a non-taxable authorized entity exactly as a result of it isn’t permitted to interact in any sort of taxable exercise. The representative office, however, is required to withhold wage tax for salaries paid to staff and pay patent tax . A consultant office just isn’t allowed to engage in energetic buying and selling or present companies in Cambodia. It could not buy, sell, or conduct any service or activity considered to be throughout the traditional scope of the parent company’s business.
accepted this argument, ruling that since Mr. Salomon had created the company solely to transfer his enterprise to it, the company was in actuality his agent and he as principal was responsible for debts to unsecured creditors. The operate of much of the Anglo-Saxon courts’ work in this area is to delineate the legitimate makes use of of the corporate kind. The ideas was invented within the seventeenth century, and previous to this date, individuals have been scared to spend money on firms as a … Read More
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