| Webster's Online Dictionary |
| Expressions | Domain | Definition | |
| Imputation system | Finance | 1: A system of taxation concerning corporate income tax, under which at least part of the tax paid by a company on its profits is credited against the tax liability of shareholders in receipt of income distributions paid by the company out of those profits, thereby eliminating or reducing double taxation of distributed profits. The system may be "full", the shareholder being entitled to full credit for the corporate income tax paid, or a "partial imputation credit" may be granted. Source: European Union. (references) | |
| 2: A system of taxation of dividends in which the company pays advance corporation tax on the dividends it pays to its shareholders, and the shareholders pay no tax on the dividends received, assuming that they pay tax at the standard rate. Source: European Union. (references) | |||
Source: compiled by the editor from various references; see credits. | Top | ||
