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Corporate Tax can simply be defined as a tax or a deduction on the profits of a corporation/company. This tax is paid on a corporation's taxable income, which includes the revenue, subtracted by the cost of sold goods, the general and administrative expenses, the selling and marketing, research and development, depreciation and the other costs of operating. The rate of corporate taxes are majorly dependent on country. Some countries are considered to be tax havens because of their low taxation rates. This concept of corporate tax was first introduced into the world by The United States of America in the year 1894.
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Also Read- How to file taxes in the USA?
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