外刊英语原文：

One of the main vehicles of corporate tax avoidance is a practice known as transfer pricing. Under international rules, transactions between company subsidiaries are supposed to be priced as if they were conducted “at arm’s length” between unrelated parties. In practice, though, the price can be adjusted to move profits to the lower-tax jurisdiction and expenses to the higher-tax one. The more complex the transaction, the easier this becomes.

Many tax-haven subsidiaries are essentially shell companies that exist only to hold intellectual-property (IP) rights and charge other parts of the group for their use or provide other “service” at above-market rates.

Transfer pricing (really mispricing) is sometimes also used to load costs onto countries that offer generous subsidies, especially in extractive industries. It has become a key plank of multinational tax strategies.

我的重点词汇：

1.tax avoidance: 避税

2.transfer pricing: 转移定价

3.at arm’s length: 公平，独立

4.tax-haven: 避税天堂

5.shell companies: 空壳公司

我的译文：

公司避税的主要工具之一是称为转移定价的做法。根据国际规则，公司子公司之间的交易定价应视为在不相关方之间“公平交易”进行。然而，在实践中，价格可以调整，将利润转移到低税收管辖区，将费用转移到高税收管辖区。交易越复杂，这就越容易。

许多避税天堂子公司本质上是空壳公司，其存在只是为了持有知识产权（IP）并收取集团其他部分的使用费用或以高于市场的价格提供其他“服务”。

转移定价（实际上是错误定价）有时也被用来将成本转嫁给提供慷慨补贴的国家，特别是在采掘业。它已成为跨国税收战略的关键板块。

此文为作者原创第168篇。

我是作者英语正强老师，爱好教学、阅读和写作。勤于原创、乐于分享，感谢您的关注、点评和点赞。