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Definition of

advance corporation tax


former UK company tax formerly, in the United Kingdom, a tax paid by a company equal to a percentage of its dividends or other distributions of profit to its stockholders. It was abolished in 1999.

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Definitions of ’advance corporation tax’ and meaning of ’advance corporation tax’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’advance corporation tax’ and other financial terms with our online QFINANCE Financial Dictionary.

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