Statutory rate
Regulation & taxThe headline corporate tax rate set by law.
In plain terms
Normalise both companies to it before comparing — one may simply be on a holiday.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Effective tax rate
AccountingTax charge divided by profit before tax.
In plain terms
A gap from the statutory rate always has a disclosed reason, and the reason is usually worth knowing.