ADVANCE CORPORATION TAX Definition

ADVANCE CORPORATION TAX (ACT) is a UK Corporation tax, required under UK tax rules. It represents a minimum tax on companies that earn most of their profits overseas.

Learn new Accounting Terms

C.A. is sometimes used to identify the Chief Accountant

CREDIT, in accounting, is an accounting entry system that either decreases assets or increases liabilities; in general, it is an arrangement for deferred payment for goods and services.

Suggest a Term