CORPORATION TAX Definition

Bookmark and Share

CORPORATION TAX refers to direct taxes charged by various jurisdictions on the profits made by companies or associations. As a general principle, this varies substantially between jurisdictions. In particular allowances for capital expenditure and the amount of interest payments that can be deducted from gross profits when working out the tax liability vary substantially. Also, tax rates may vary depending on whether profits have been distributed to shareholders or not.

Learn new Accounting Terms

UNSECURED is obligation backed not by collateral but only by the integrity of the borrower. Opposite of secured.

ACCOUNTING is primarily a system of measurement and reporting of economic events based upon the accounting equation for the purpose of decision making. Generally, when someone says "accounting" they are referring to the department, activity or individuals involved in the application of the accounting equation.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.