Corporate Income Tax

Corporate Income Tax is a tax that the government imposes on the profits a company generates. Essentially, when a corporation earns money from its business activities, it must pay a percentage of that profit to the government. This tax is based on the company’s net income, which is calculated by subtracting allowable expenses from total revenue. The rates and rules can vary by country and jurisdiction. This tax is a significant source of revenue for governments, used to fund public services and infrastructure.