corporation tax rate

Corporation tax rate is the percentage of a company's profit that it must pay to the government as tax. For example, if a company makes a profit of £100,000 and the corporation tax rate is 20%, it will pay £20,000 in taxes. This rate is set by the government and can vary depending on the country and the size of the company's profit. It’s a way for companies to contribute to public services and infrastructure, and it’s calculated after deducting allowable expenses from total income.