Corporate Tax

Corporate tax is a tax imposed on the income or profit of corporations and other business entities. It is typically calculated as a percentage of the corporation’s earnings after all deductions, allowances, and exemptions have been accounted for. The tax rate and the specific regulations governing corporate tax can vary significantly between countries and jurisdictions. Corporate tax is a key source of revenue for governments and is used to fund public services and infrastructure. The taxation framework may also include provisions for capital gains, dividend distributions, and other financial activities of corporations. Additionally, corporations may engage in tax planning strategies to minimize their overall tax liability within the legal frameworks established by tax authorities.