[Scoundreller]

Depends on the country. Some countries have treaties letting your home corporation receive dividends from its foreign affiliate tax-free. Canada allows this kind of thing.

Then there's how to wash your Canadian income into this foreign operation...

There was a big case of a uranium mining company in Canada that sold options that effectively forced it to forever sell its product to its recently setup Swiss subsidiary at the "glut" price. If the price went up, all the profit would go to the Swiss subsidiary. If the price stayed low, they'd just liquidate the subsidiary.

Voila.