What is a corporate tax in general?
AAn indirect tax on goods
BA direct tax on company income
CA tax on shareholders only
DA customs duty on imports
Answer & Solution
Correct answer: B. A direct tax on company income
Corporate tax is a direct tax levied on the income or capital of corporations and similar legal entities.
Keep practising Basic Concepts
Browse all Basic Concepts questions for CA Final, or explore more Taxation topics.
Related questions
Foreign corporations are usually taxed on business income earned through what?Which tax is imposed by many countries on foreign corporations to offset the lack of dividIn October 2021, some 136 countries agreed to enforce a corporate tax rate of at least whaIn law, a company is defined as what kind of person?What does group relief allow related corporations to do?In systems allowing financing costs as deductions, which item is usually deductible?Net profit for corporate tax generally starts from which base?Which kind of tax system taxes only income earned within the country's borders?