ADVANCE CORPORATION TAX Definition

Bookmark and Share

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

HARMONIZED SYSTEM is an internationally agreed upon classification system for trade. It provides code numbers to specify a goods classification; thereby making customs duty determination more predictable.

CALL PROVISION is a. a provision of a bond or preferred stock issue, listed in its indenture (the formal agreement between the bond issuer and the holder) that allows the issuer to redeem the bond before the maturity date either at par or at a premium to par; or, b. a clause in a mortgage giving the lender the right to demand and receive payment of the balance of the unpaid principal in full under certain conditions. A call provision is similar to an acceleration clause.

Suggest a Term

Enter Search Term

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