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

UNUSUAL GAINS AND LOSSES are material gains and losses that are either unusual or occur infrequently, but not both, are excluded from the extraordinary item classification See EXTRAORDINARY ITEMS.

PETTY is small and of little importance.

Suggest a Term

Enter Search Term

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