First, we must discuss the subject of corporate taxation so that we can understand what it is and what it is all about, and this includes surveying the principle features and recent history of corporate taxation, followed by the consideration of the incentives that tax systems provide for the behavior of corporations, and then as well we must discuss the scenarios that have taken place over the last 20 years in regards to tax changes, and finally, we must examine how these changes have affected corporate taxation, and all of the key and related issues as well. By doing this, we will be able to come to a much more aware and intelligent understanding on the subject matter at hand overall. This is what will be dissertated in the following.
Corporate taxation is considered as being an incredibly important source of government revenue across the world, and as well it is a significant and major consideration in regards to the planning of business activities. Corporate tax is a term which refers to "a tax levied by various jurisdictions on the profits made by companies or associations. As a general principle, the tax varies substantially between jurisdictions. In particular allowances for capital expenditure and the amount of interest payments that can be deducted from gross profits when working out the tax liability vary substantially. Also, tax rates may vary depending on whether profits have been distributed to shareholders or not. ...Show more