Corporate Tax

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Corporate Tax

A tax levied on corporations' profits. Because corporations are legal entities separate from their owners, they may be taxed as if they were persons. A corporate tax, then, is the equivalent of the income tax for natural persons. Corporate taxes vary from country to country; in the United States, they are levied at both the federal and state levels. Proponents of the corporate tax argue it guards against excessive profits that may result from unethical or illegal corporate practices, while opponents say that corporations simply pass on the tax to their customers.
References in periodicals archive ?
Ms Campbell said: "The Isle of Man is widely acknowledged as a UK financial centre of excellence, a direct result of its off-shore jurisdiction which allows tax free status on capital gains, inheritance and some company taxation.
See Commission Staff Working Paper, Company Taxation in the
Businesses were non-committal, with Cardiff's Chamber of Commerce welcoming simplified regulation but saying company taxation still needed attention.
Integrated into its general tax website, it also offers relevant information on VAT and company taxation, including on the 10 countries that joined the EU in May.
A complete set of standard tax accounting rules could be formulated and proposed, drawing on the previous work of the EC in reviewing the company taxation rules in each of the member states, e.
As a result of Government policies that are "the envy of the world", dapper Boateng crowed "our rates of company taxation are lower than all but 12 of our partners and competitors in Europe.
However they can influence strongly the proportion of world demand that is supplied by firms located in the UK both by affecting relative costs and relative company taxation.
A committee formed in 1990, called the Ruding Committee, is presently examining other potential areas for revising company taxation to facilitate the EC's proper functioning.
Tax structure of company taxation should be simplified by consolidating different taxes.
Receipt, registration and validation of the companies because records, tax returns and other reports on company taxation.