advance corporation tax

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advance corporation tax

n
(Accounting & Book-keeping) a former UK tax in which a company paying a dividend had to deduct the basic rate of income tax from the grossed-up value of the dividend and pay it to the Inland Revenue. Abbreviation: ACT
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The advance tax ruling section of Revenue Canada decided that not only were they going to refuse to allow the trust to move its assets out of Canada tax-free, they were going to recommend that the tax avoidance rule be applied.
The government also announced that it would resume providing advance tax rulings on flow-through entity structures.
5 percent advance tax and regulatory duty on import of Liquefied Petroleum Gas to ensure smooth supply of the commodity at affordable rates across the country.
ISLAMABAD -- Importers of liquefied petroleum gas (LPG) have threatened to stop imports from next month if the regulatory duty and advance tax are not withdrawn, sparking fears the country may face acute shortages at a time of peak winter demand.
Last week, Hoeven held a series of roundtable discussions with farmers, ranchers and other small businesses in North Dakota to gather input and advance tax relief that will benefit individuals, families, agriculture producers and small businesses, while also helping to grow the economy and boost wages for workers.
58,783 crore was received as advance tax up to June 30, 2017, reflecting a growth of 11.
The chairman said he had suggested the OGRA chairperson in writing to withdraw the advance tax on import of LPG permanently or just for six months as it would help import of sufficient fuel and its availability at prescribed rates.
When the WHT (advance tax) was imposed on telecom sector, the government had contended that consumers can get advance tax back at the time of filing for their annual taxes but the cellular operators claim that more than 80 percent of their consumers are non-taxable and 14 percent advance tax is never returned.
In addition to the motor vehicle tax being charged from time immemorial by all the provincial governments, a new federal advance tax on motor vehicles under Section 234 of the Income Tax Ordinance has been imposed which varies front from Rs 7500 to Rs 80,000 depending upon the cc power of the vehicle.
For the 72 companies, the total advance tax paid till December 15 amounted to ` 14,098.
3 percent advance tax on transfer of any sum of cash through online transfer, telegraphic transfers, mail transfer or any other mode of electronic transfer.
Assuming that the proposal is approved on the general meetings and that a final advance tax ruling on the tax issues is received, stating that the reduction of the differences in voting rights to 10:1 and the conversion from B- to A-shares do not trigger tax liability, the proposal will be submitted for resolution at an extraordinary general meeting in Ericsson.