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 ?
While the UAE Cabinet has approved the corporate tax policy, there are still many stages to go through before the laws are signed by His Royal Highness the President and published in the Official Gazette.
David Hillan, head of corporate tax in Birmingham, said: "Over recent years the corporate tax team has undertaken a large number of assignments with a wide variety of clients across many business sectors.
Investors have been scrutinizing whether Japan can substantially lower the corporate tax rate - among the highest in the world - to spur growth in the world's third-largest economy, Reuters said.
is falling behind in the global trend of reducing corporate tax rates.
contrast to expensing, a corporate tax rate cut lowers the tax on both
Mike Roberts, managing director of the Corporate Market EMEA for the Tax & Accounting business of Thomson Reuters said: "To address the escalating demand from multinational corporations, due to the challenging tax environment in which they operate, professional services firms like PwC are using technology to ease the complexity of the corporate tax compliance process.
Under the Dutch Corporate Tax Law, economic activities by public bodies either as part of the public administration or in the form of publicly owned companies are, in principle, exempted from corporate tax.
The president wants to lower the US corporate tax rate from the current 35 per cent, the highest in the world after Japan.
The corporate tax rates in some GCC countries are falling this year, at a time when elsewhere in the world, government's are demanding more from businesses.
In Latin America, the average corporate tax rate this year remained 26.
Prime Minister Naoto Kan said Sunday he wants to consider expanding the corporate tax base in parallel with a proposed cut in corporate taxes.

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