ITC

noun

Definition

› COMMERCE abbreviation for International Trade Commission: a US government organization that makes rules controlling imports and exports: The ITC found that the US company was being harmed by cheap imports.

› US TAX abbreviation for investment tax credit: a reduction in taxes on company profits: The ITC allows business owners to receive a tax credit for up to 30% of the cost of an energy-efficient project.

(Definition of ITC noun from the Cambridge Business English Dictionary © Cambridge University Press)

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