Corporation Tax

Corporation Tax is a tax that companies pay on their profits—meaning the money they earn after expenses. It’s a way for governments to fund public services and infrastructure. The rate varies by country and sometimes by the size or type of business. Companies calculate their taxable profits by deducting allowable expenses from their income. Paying Corporation Tax is a legal obligation for firms, and they usually submit regular tax returns to report their profits and calculate how much they owe. Essentially, it’s a contribution businesses make to support the economy and society.