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seems to be a contradiction in terms.
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
Conversely, supposing the stock were distributed and instead of putting the profit to reserve that were distributed, the charge would fall upon the
distributedprofit.
From the
Hansard archive
Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0
The corporation tax was 45% on distributed profits and 20% on reinvested earnings.
From
Wikipedia
This example is from Wikipedia and may be reused under a CC BY-SA license.
While downward adjustments to the level of distributed profits would have been another natural response, the booming stock markets of the 1990s largely prevented such an evolution.
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