corporate tax
Company profit levy
Corporate tax is tax levied on a company's profits.
Governments impose it on business earnings after deductions for expenses, depreciation, and other allowances.
The rate varies by jurisdiction, and companies often structure operations to minimize their corporate tax burden: The firm relocated its headquarters to reduce corporate tax liability.
Formal accounts examination
- filingStoring documents systematically
- returnGo back again
- accountingMaintaining financial records
- disclosureAct of revealing information
reporting · documentation · GAAP · Sarbanes-Oxley · penalty · enforcement · deadline · recordkeeping
Compulsory government charge
- withholdingKeeping from another
- remittanceFunds sent elsewhere
- paymentFulfilling a financial obligation
- treasuryStored organizational funds
revenue service · exchequer · collection · imposition · government revenue · public funds · direct tax · progressive
Exploitable gap in rules
- deductionConclusion from premises
- exemptionRelease from requirement
- creditRecognition or payment deferral
- write-offRecorded value reduction
sheltering · offshore · inversion · avoidance · minimization · planning · deferral · incentive
Formal evaluation of worth
- obligationRequired task or commitment
- taxable incomeEarnings subject to taxation
- expenseMoney paid out
- rateMeasured speed or charge
bracket · provision · accrual · payable · contingent · reserve · exposure · underpayment
Operating across multiple countries
- entityIndependent existing thing
- subsidiaryOf lesser importance
- parent companyFirm owning subsidiary businesses
- affiliateConnected member organization
branch · consolidation · intercompany · unitary · apportionment · nexus · domicile · residency
audit
Formal accounts examination
- filingStoring documents systematically
- returnGo back again
- accountingMaintaining financial records
disclosure · reporting · documentation · GAAP · Sarbanes-Oxley · penalty · enforcement · deadline · recordkeeping · attestation
levy
Compulsory government charge
- withholdingKeeping from another
- remittanceFunds sent elsewhere
- paymentFulfilling a financial obligation
treasury · revenue service · exchequer · collection · imposition · government revenue · public funds · direct tax · progressive · regressive
loophole
Exploitable gap in rules
- deductionConclusion from premises
- exemptionRelease from requirement
- creditRecognition or payment deferral
write-off · sheltering · offshore · inversion · avoidance · minimization · planning · deferral · incentive · subsidiary
assessment
Formal evaluation of worth
- obligationRequired task or commitment
- taxable incomeEarnings subject to taxation
- expenseMoney paid out
rate · bracket · provision · accrual · payable · contingent · reserve · exposure · underpayment · overpayment
multinational
Operating across multiple countries
- entityIndependent existing thing
- subsidiaryOf lesser importance
- parent companyFirm owning subsidiary businesses
affiliate · branch · consolidation · intercompany · unitary · apportionment · nexus · domicile · residency · cross-border
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- Latin American taxesVAT, value added tax, income tax, sales tax, excise tax
- corporateCEO, office, CFO, cubicle, COO
- taxessales tax, income tax, estate tax, excise tax, payroll tax
- corporate financecost of capital, investment, capital markets, NPV, debt financing
- Corporate Termssubsidiary, CFO, affiliate, division, merger
corporate taxpersonal income tax
Tax on individual earnings
personal tax · household tax · inheritance tax · estate tax · payroll tax
corporate taxsales tax
Government percentage on purchases
consumption tax · value-added tax · property tax · excise tax · capital gains tax
corporation, incorporate, taxation, corporate, incorporation, incorporated, corporations, incorporating, incorporates