The location of a business in another country for tax purposes
Offshoring describes the relocation by a company of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Even state governments employ offshoring. More recently, offshoring has been associated primarily with the sourcing of technical and administrative services supporting domestic and global operations from outside the home country, by means of internal or external delivery models. The term is in use in several distinct but closely related ways. It is sometimes used broadly to include substitution of a service from any foreign source for a service formerly produced internally to the firm. In other cases, only imported services from subsidiaries or other closely related suppliers are included. A further complication is that intermediate goods, such as partially completed computers, are not consistently included in the scope of the term. Offshoring can be seen in the context of either production offshoring or services offshoring. After its accession to the World Trade Organization in 2001, the People's Republic of China emerged as a prominent destination for production offshoring. Another focus area has been the software industry as part of Global Software Development and developing Global Information Systems. After technical progress in telecommunications improved the possibilities of trade in services, India became a country leading in this domain though many parts of the world are now emerging as offshore destinations.
The numerical value of offshoring in Chaldean Numerology is: 4
The numerical value of offshoring in Pythagorean Numerology is: 9
Sample Sentences & Example Usage
Financial services companies are relatively well advanced already with taking advantage of offshoring but the capacity of the potential to continue has not yet been unleashed.
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