What Is Corporate Income Tax?
Chart Global Corporation Tax Levels In Perspective Statista from www.statista.com In 2023, Corporate Income Tax is a tax that a business pays on its profits. It is a form of taxation applied to all companies and other business entities that operate in a jurisdiction where it is imposed. The tax rate may vary depending on the jurisdiction, but generally, the tax rate is determined by the profitability of the company. It is also known as corporate tax, company tax, or corporate income tax. Corporate income tax is typically imposed on companies that are registered in a particular jurisdiction, or that have a physical presence there. Companies that do not have a physical presence in the jurisdiction may still be subject to corporate income tax if they carry out certain activities within the jurisdiction, such as selling products or services, or owning property. Who Pays Corporate Income Tax? The company that is liable to pay corporate income tax is typically the legal entity that is re...