Corporate Income Tax

Corporate Income Tax (CIT) is the tax applicable to the income, which is revenue minus expenses, generated by a company. The purpose of the CIT is to generate revenue for the government by applying this tax to the profits of the companies registered and operating within the country. Some countries have higher corporate income tax rates, some have lower, and some don’t impose a CIT whatsoever. If you plan to register a company in a certain jurisdiction, it is important to verify its corporate income tax rate first.