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

UPSTREAM / DOWNSTREAM SALES is normally associated with inter-company sales: Upstream is a subsidiary selling into the parent entity; while downstream is the parent selling into a subsidiary.

SEMIVARIALBLE COST is one that varies with changes in volume, but, unlike variable cost, does not vary in direct proportion. This component contains both fixed and variable elements, e.g., a rented vehicle may have a rental fee (fixed), but contain a mileage adder (variable).

Suggest a Term

Enter Search Term

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