Business / Accounting / Corporation Tax (CT): The tax paid by a limited company on its profits. At present this is calculated at year end and due within 9 months of that date. From April 1999 Advanced Corporation Tax was abolished and large (UK) companies now pay CT in instalments. Small and medium-sized companies are exempted from the instalment plan.
Tax Noun Synonyms: assess, exact, demand, charge, impose or levy a tax (on), tithe
Tax Adjective Synonyms: levy, impost, duty, tariff, assessment, tribute, toll, excise, customs, charge, contribution, scot, tithe, octroi, cess, rate(s), dues
Business / Finance / Tax Basis: The assessed value of the taxable property, assets, and income within a specific geographic area. MORE
Business / Finance / Tax Base: Minimizing tax burden through legal means such as tax-free municipal bonds, tax shelters, IRA accounts, and trusts. Compare with tax evasion. MORE