Taxation payable by companies, as opposed to individuals and trusts. Dresdner Kleinwort Wasserstein financial glossary
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Tax chargeable on the profits of a UK company. Financial Services Glossary
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corporation tax UK US noun [U or C] UK (US corporate income tax)
► TAX tax that a company has to pay on its profits: »
The chancellor proposed to reduce the small companies rate of corporation tax to 24%.
»As a charity they do not pay corporation tax on profits.
»a reduction/increase/rise in corporation tax
Financial and business terms. 2012.