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Corporate Tax Rates by Country | Corporate Tax Trends

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Key Findings

  • In 2020, 10 nations made adjustments to their statutory company earnings tax charges. One nation—Micronesia—elevated its prime company tax price, whereas 9 nations—Armenia, Belgium, Colombia, France, French Polynesia, Greenland, Monaco, Togo, and Zimbabwe—diminished their company tax charges.
  • Comoros (50 p.c), Puerto Rico (37.5 p.c), and Suriname (36 p.c) are the nations with the best company tax charges on the earth, whereas Barbados (5.5 p.c), Uzbekistan (7.5 p.c), and Turkmenistan (8 p.c) levy the bottom company charges. Fifteen jurisdictions don’t impose company tax.
  • The worldwide common statutory company earnings tax price, measured throughout 177 jurisdictions, is 23.85 p.c. When weighted by GDP, the common statutory price is 25.85 p.c.
  • Europe has the bottom regional common price, at 19.99 p.c (24.61 p.c when weighted by GDP). Conversely, Africa has the best regional common statutory price, at 28.50 p.c (28.16 p.c weighted by GDP).
  • The common prime company price amongst EU27 nations is 21.47 p.c, 23.51 p.c in OECD nations, and 24 p.c within the G7.
  • The worldwide common statutory company tax price has persistently decreased since 1980, with the most important decline occurring within the early 2000s.
  • The common statutory company tax price has declined in each area since 1980.

Introduction

In 1980, company tax charges all over the world averaged 40.11 p.c, and 46.52 p.c when weighted by GDP.[1] Since then nations have acknowledged the impression that top company tax charges have on enterprise funding selections in order that in 2020, the common is now 23.85 p.c, and 25.85 when weighted by GDP, for 177 separate tax jurisdictions.[2]

Declines have been seen in each main area of the world, together with within the largest economies. The 2017 tax reform in the USA introduced the statutory company earnings tax price from among the many highest on the earth nearer to the center of the distribution. Whereas in 2017 the USA had the fourth highest company earnings tax price on the earth,[3] it now ranks in the direction of the center of the nations and tax jurisdictions surveyed.

European nations are inclined to have decrease corporate income tax charges than nations in different areas, and lots of growing nations have company earnings tax charges which can be above the worldwide common.

As we speak, most nations have company tax charges under 30 p.c.

Notable Company Tax Charge Adjustments in 2020

Ten nations have made adjustments to their statutory company earnings tax charges in 2020. Micronesia was the one nation to extend its prime company tax price, introducing a progressive company earnings tax system with a prime price of 30 p.c, 9 proportion factors greater than the earlier flat company tax of 21 p.c.

9 nations throughout 5 continents—Armenia, Belgium, Colombia, France, French Polynesia, Greenland, Monaco, Togo, and Zimbabwe—diminished their company tax charges in 2020. The tax price reductions ranged from one proportion level in Colombia, French Polynesia, and Togo to five.3 proportion factors in Greenland.

Notable Company Revenue Tax Charge Adjustments in 2020
Nation 2019 Tax Charge 2020 Tax Charge Change from 2019 to 2020

Africa

Togo 28% 27% -1 ppt
Zimbabwe 25.75% 24.72% -1.03 ppt

Asia

Armenia 20% 18% -2 ppt

Europe

Belgium 29.58% 25.00% -4.58 ppt
France (a) 34.43% 32.02% -2.41 ppt
Monaco (b) 31% 28% -3 ppt

North America

Greenland 31.8% 26.5% -5.3 ppt

Oceania

French Polynesia 26% 25% -1 ppt
Micronesia (Federated States of) (c) 21% 30% +9 ppt

South America

Colombia (d) 33% 32% -1 ppt

Notes:

(a)     France has additional company tax price reductions scheduled, leading to a price of 25 p.c (plus 3.3 p.c social surcharge, equaling a mixed price of 25.83 p.c) by 2022.

(b)    Monaco has additional company tax price reductions scheduled, leading to a price of 25 p.c by 2022.

(c)     Micronesia applied a progressive company earnings tax with a prime price of 30 p.c.

(d)    Colombia’s 2018/2019 tax reform launched measures to cut back the company earnings tax price additional, to 31 p.c in 2021, and 30 p.c from 2022 onwards.

Scheduled Company Tax Charge Adjustments within the OECD[4]

Amongst OECD nations, France, the Netherlands, and Sweden have introduced they may implement adjustments to their statutory company earnings tax price over the approaching years.

  • In France, the usual statutory company earnings tax price was lowered to 32.02 p.c (together with the three.3 p.c social surcharge) in 2020. An already legislated company price discount is anticipated to progressively deliver the company tax price right down to 25.83 p.c by 2022.
  • Within the Netherlands, the initially deliberate discount of the statutory company tax price making use of to earnings exceeding €200,000 was partly reversed: The company price was not decreased to 22.55 p.c in 2020 as initially deliberate. As an alternative, it stays at 25 p.c in 2020 and shall be lowered to 21.7 p.c as an alternative of 20.50 p.c in 2021.
  • In Sweden, the statutory company tax price shall be lower from 21.4 p.c in 2020 to twenty.6 p.c in 2021.

The Highest and Lowest Company Tax Charges within the World[5]

100 of the 223 separate jurisdictions surveyed for the 12 months 2020 have company tax charges under 25 p.c and 117 have tax charges above 20 and at or under 30 p.c. The common tax price among the many 223 jurisdictions is 22.57 p.c.[6] The US has the 85th highest company tax price with a mixed statutory price of 25.77 p.c.

The 20 nations with the best statutory company earnings tax charges span virtually each area, albeit unequally. Whereas 9 of the highest 20 nations are in Africa, Europe seems solely twice and Asia in no way. Of the remaining jurisdictions, two are in Oceania, and 7 are within the Americas.

The one industrialized nation[7] within the prime 20 is France (32.02 p.c).

20 Highest Statutory Company Revenue Tax Charges within the World, 2020
Nation Continent Tax Charge
Comoros* Africa 50%
Puerto Rico North America 37.5%
Suriname South America 36%
Chad Africa 35%
Democratic Republic of the Congo Africa 35%
Equatorial Guinea Africa 35%
Guinea Africa 35%
Kiribati Oceania 35%
Malta Europe 35%
Saint Martin (French Half) North America 35%
Sint Maarten (Dutch half) North America 35%
Sudan Africa 35%
Zambia Africa 35%
American Samoa Oceania 34%
Brazil South America 34%
Venezuela (Bolivarian Republic of) South America 34%
Cameroon Africa 33%
Saint Kitts and Nevis North America 33%
Seychelles Africa 33%
France Europe 32.02%

Notes: *The conventional company tax price is 35 p.c, which applies to each Comorian corporations and international corporations deriving Comorian-source earnings. Nevertheless, public industrial and business enterprises or these the place the state or sure public establishments are individuals are topic to a company tax price of fifty p.c if their turnover exceeds 500 million Comorian francs; see Bloomberg Tax, “Nation Guides: Comoros,” https://www.bloomberglaw.com/product/tax/document/25590833704.

Sources: OECD, “Desk II.1. Statutory company earnings tax price,” up to date April 2020, https://stats.oecd.org/index.aspx?DataSetCode=Table_II1; KPMG, “Company tax charges desk,” https://home.kpmg/xx/en/home/services/tax/tax-tools-and-resources/tax-rates-online/corporate-tax-rates-table.html; and researched individually, see Tax Basis, “worldwide-corporate-tax-rates,” GitHub, https://github.com/TaxFoundation/worldwide-corporate-tax-rates.

On the opposite finish of the spectrum, the 20 nations with the bottom non-zero statutory company tax charges all cost charges at or under 12.5 p.c. Ten nations have statutory charges of 10 p.c, six being small European nations (Andorra, Bosnia and Herzegovina, Bulgaria, Gibraltar, Kosovo, and Macedonia). The one two industrialized nations[8] represented among the many backside 20 nations are Eire and Hungary. Eire is understood for its low 12.5 p.c price, which has been in place since 2003. Hungary diminished its company earnings tax price from 19 to 9 p.c in 2017.

20 Lowest Statutory Company Revenue Tax Charges within the World, 2020
(Excluding Jurisdictions with a Company Revenue Tax Charge of Zero P.c)
Nation Continent Tax Charge
Barbados North America 5.5%
Uzbekistan Asia 7.5%
Turkmenistan Asia 8%
Hungary Europe 9%
Montenegro Europe 9%
Andorra Europe 10%
Bosnia and Herzegovina Europe 10%
Bulgaria Europe 10%
Gibraltar Europe 10%
Kosovo, Republic of Europe 10%
Kyrgyzstan Asia 10%
Paraguay South America 10%
Qatar Asia 10%
The previous Yugoslav Republic of Macedonia Europe 10%
Timor-Leste Oceania 10%
China, Macao Particular Administrative Area Asia 12%
Republic of Moldova Europe 12%
Cyprus Europe 12.5%
Eire Europe 12.5%
Liechtenstein Europe 12.5%

Sources: OECD, “Desk II.1. Statutory company earnings tax price;” KPMG, “Company tax charges desk;” and researched individually, see Tax Basis, “worldwide-corporate-tax-rates/.”

Of the 223 jurisdictions surveyed, 15 at the moment don’t impose a normal company earnings tax. Aside from the United Arab Emirates, all these jurisdictions are small, island nations. A handful, such because the Cayman Islands and Bermuda, are well-known for his or her lack of company taxes.

International locations with out Basic Company Revenue Tax, 2020
Nation Continent
Anguilla North America
Bahamas North America
Bahrain* Asia
Bermuda North America
British Virgin Islands North America
Cayman Islands North America
Guernsey Europe
Isle of Man Europe
Jersey Europe
Saint Barthelemy North America
Tokelau Oceania
Turks and Caicos Islands North America
United Arab Emirates* Asia
Vanuatu Oceania
Wallis and Futuna Islands Oceania

Sources: OECD, “Desk II.1. Statutory company earnings tax price”; KPMG, “Company tax charges desk”; and researched individually, see Tax Basis, “worldwide-corporate-tax-rates.”

Notes: *Bahrain has no normal company earnings tax however has a focused company earnings tax on oil corporations, which will be as excessive as 46 p.c. See Deloitte, “Worldwide Tax – Bahrain Highlights 2020,” final up to date January 2020, https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-bahrainhighlights-2020.pdf?nc=1. The United Arab Emirates is a federation of seven separate emirates. Since 1960, every emirate has the discretion to levy as much as a 55 p.c company tax price on any enterprise. In follow, this tax is usually levied on international banks and petroleum corporations. For extra info on the taxation system within the United Arab Emirates, see PwC, “Worldwide Tax Summaries – Company earnings tax (CIT) charges.”

Regional Variation in Company Tax Charges

Company tax charges can differ considerably by area. Africa has the best common statutory company tax price amongst all areas, at 28.50 p.c. Europe has the bottom common statutory company tax price amongst all areas, at 19.99 p.c.

When weighted by GDP, South America has the best common statutory company tax price at 31.83 p.c. Europe has the bottom weighted common statutory company earnings tax, at 24.61 p.c.

Basically, bigger and extra industrialized nations are inclined to have greater company earnings tax charges than smaller nations. The G7, which is comprised of the seven wealthiest nations on the earth, has a mean statutory company earnings tax price of 27.24 p.c, and a weighted common price of 26.95 p.c. OECD member states have a mean statutory company tax price of 23.51 p.c, and a price of 26.30 p.c when weighted by GDP. The BRICS[9] have a mean statutory price of 27.40 p.c, and a weighted common statutory company earnings tax price of 26.49 p.c.

Common Company Tax Charge by Area or Group, 2020
Area Common Charge Common Charge Weighted by GDP Variety of International locations Coated
Africa 28.50% 28.16% 50
Asia 20.06% 25.37% 46
Europe 19.99% 24.61% 39
North America 26.06% 26.13% 22
Oceania 23.75% 29.74% 8
South America 27.54% 31.83% 12
G7 27.24% 26.95% 7
OECD 23.51% 26.30% 37
BRICS 27.40% 26.49% 5
EU27 21.47% 26.46% 27
G20 26.96% 26.77% 19
World 23.85% 25.85% 177

Sources: Statutory company earnings tax charges are from OECD, “Desk II.1. Statutory company earnings tax price”; KPMG, “Company tax charges desk”; and researched individually, see Tax Basis, “worldwide-corporate-tax-rates.” GDP calculations are from the U.S. Division of Agriculture, “Worldwide Macroeconomics Knowledge Set.”

The next map illustrates the present state of company tax charges all over the world. International locations in Africa and South America are inclined to have greater company tax charges than Asian and European jurisdictions. Oceania and North America’s company tax charges are typically near the world common.

2020 Corporate Tax Rates Around the World, Corporate Taxes around the World, 2020 Corporate Tax Trends

Distribution of Company Tax Charges[10]

Only a few tax jurisdictions impose a company earnings tax at statutory charges larger than 35 p.c. The next chart reveals a distribution of company earnings tax charges amongst 223 jurisdictions in 2020. A plurality of nations (117 complete) impose a price above 20 p.c and at or under 30 p.c. Twenty-three jurisdictions have a statutory company tax price above 30 p.c and at or under 35 p.c. Eighty jurisdictions have a statutory company tax price at or under 20 p.c, and 197 jurisdictions have a company tax price at or under 30 p.c.

Most countries' corporate tax rates range between 20 percent and 30 percent. 2020 corporate tax rates around the world, 2020 corporate tax trends

Over the previous 40 years, company tax charges have persistently declined on a worldwide foundation. In 1980, the unweighted common worldwide statutory tax price was 40.11 p.c. As we speak, the common statutory price stands at 23.85 p.c, representing a 41 p.c discount over the 40 years surveyed.[11]

The weighted common statutory price has remained greater than the easy common over this era. Previous to U.S. tax reform in 2017, the USA was largely chargeable for protecting the weighted common so excessive, given its comparatively excessive tax price, in addition to its vital contribution to international GDP. Determine 3 reveals the numerous impression the change within the U.S. company price had on the worldwide weighted common. The weighted common statutory company earnings tax price has declined from 46.52 p.c in 1980 to 25.85 p.c in 2020, representing a 44 p.c discount over the 40 years surveyed.

Corporate tax rates have continuously declined over the last 40 years, 2020 corporate tax rates around the world, 2020 corporate tax trends

Over time, extra nations have shifted to taxing firms at charges of or decrease than 30 p.c, with the USA following this development with its tax adjustments on the finish of 2017. The most important shift occurred between 2000 and 2010, with 78 p.c of nations imposing a statutory price at or under 30 p.c in 2010 and solely 42 p.c of nations imposing a statutory price at or under 30 p.c in 2000.[12]

Corporate tax rates between 20 percent and 25 percent are most common. 2020 corporate tax rates around the world, 2020 corporate tax trends

All areas noticed a internet decline in common statutory charges between 1980 and 2020. The common declined probably the most in Europe, with the 1980 common of 44.6 p.c dropping to 19.99 p.c, representing a 55 p.c price discount. South America has seen the smallest decline, with the common solely reducing by 25 p.c, from 36.66 p.c in 1980 to 27.54 p.c in 2020.

South America noticed a interval (1990-2000) the place the common statutory price elevated barely at lower than one proportion level, though the common price decreased over the total 40-year interval.

Corporate tax rates have declined in every region around the world over time. 2020 corporate tax rates around the world, 2020 corporate tax trends

Conclusion

Worldwide and regional common prime statutory company tax charges have declined over latest a long time, with most nations following the development. Of 223 jurisdictions all over the world, just one has elevated its prime company earnings tax price in 2020, whereas 9 nations have decreased their company tax price. The development appears to be persevering with, as a number of nations are planning to cut back their company tax charges within the coming years.

Appendix

The Dataset

Scope

The dataset compiled for this publication consists of the 2020 statutory company earnings tax charges of 223 sovereign states and dependent territories all over the world. Tax charges have been researched just for jurisdictions which can be among the many round 250 sovereign states and dependent territories which were assigned a rustic code by the Worldwide Group for Standardization (ISO).[13] In consequence, zones or territories which can be impartial taxing jurisdictions however shouldn’t have their very own nation code are usually not included within the dataset.

As well as, the dataset consists of historic statutory company earnings tax charges for the time interval 1980 to 2019. Nevertheless, these years cowl tax charges of fewer than 223 jurisdictions on account of lacking information factors. Please let Tax Basis know in case you are conscious of any sources for historic company tax charges that aren’t talked about on this report, as we continuously try to enhance our datasets.

Number of Countries for which the Dataset Includes a Corporate Tax Rate, 2020 corporate tax rates around the world, 2020 corporate tax trends

To have the ability to calculate common statutory company earnings tax charges weighted by GDP, the dataset consists of GDP information for 177 jurisdictions. When used to calculate common statutory company earnings tax charges, both weighted by GDP or unweighted, solely these 177 jurisdictions are included (to make sure the comparability of the unweighted and weighted averages).

Definition of Chosen Company Revenue Tax Charge

The dataset captures customary prime statutory company earnings tax charges levied on home companies. This implies:

  • The dataset doesn’t replicate particular tax regimes, together with however not restricted to patent bins, offshore regimes, or particular charges for particular industries.
  • Quite a few nations levy decrease charges for companies under a sure income threshold. The dataset doesn’t seize these decrease charges.
  • A couple of nations levy gross income taxes on companies as an alternative of company earnings taxes. Because the tax charges of a company earnings tax and a gross income tax are usually not comparable, these nations are excluded from the dataset.
  • Some nations have a separate tax price for nonresident corporations. This dataset doesn’t contemplate nonresident tax charges that differ from the overall company price.

Sources

Tax Charges for the Yr 2020

For OECD nations, the statutory company earnings tax charges used are the mixed company earnings tax charges offered by the OECD; see OECD, “Desk II.1. Statutory company earnings tax price,” up to date April 2020, https://stats.oecd.org/index.aspx?DataSetCode=Table_II1. The primary supply for non-OECD jurisdictions are the statutory charges offered by KPMG; see KPMG, “Company tax charges desk,” 2020, https://home.kpmg/xx/en/home/services/tax/tax-tools-and-resources/tax-rates-online/corporate-tax-rates-table.html. Jurisdictions that aren’t a part of both supply have been researched individually. The supply for every of those jurisdictions is listed in a GitHub repository; see Tax Basis, “worldwide-corporate-tax-rates,” GitHub, https://github.com/TaxFoundation/worldwide-corporate-tax-rates.

Tax Charges for the Years 1980-2019

Tax charges for the time-frame between 1980 and 2019 are taken from a dataset compiled by the Tax Basis over the past years. These historic charges come from a number of sources: PwC, “Worldwide Tax Summaries – Company Taxes,” 2010-2019; KPMG, “Company Tax Charge Survey,” 1998- 2003; KPMG, “Company tax charges desk,” 2003-2019; EY, “Worldwide Company Tax Information,” 2004-2019; OECD, “Historic Desk II.1 – Statutory company earnings tax price,” 1999, http://www.oecd.org/tax/tax-policy/tax-database.htm#C_CorporateCaptial; the College of Michigan – Ross College of Enterprise, “World Tax Database,” https://www.bus.umich.edu/otpr/otpr/default.asp; and quite a few authorities web sites.

Gross Home Product (GDP) for the years 1980-2020

GDP calculations are from the U.S. Division of Agriculture, “Worldwide Macroeconomics Knowledge Set,” Jan. 3, 2020, https://www.ers.usda.gov/data-products/international-macroeconomic-data-set/.

Listing of all Company Tax Charges in 2020

Statutory High Company Tax Charges across the World, 2020
ISO3 Nation Continent Company Tax Charge
AFG Afghanistan AS 20.00%
ALA Aland Islands EU 20.00%
ALB Albania EU 15.00%
DZA Algeria AF 26.00%
ASM American Samoa OC 34.00%
AND Andorra EU 10.00%
AGO Angola AF 30.00%
AIA Anguilla NO 0.00%
ATG Antigua and Barbuda NO 25.00%
ARG Argentina SA 30.00%
ARM Armenia AS 18.00%
ABW Aruba NO 25.00%
AUS Australia OC 30.00%
AUT Austria EU 25.00%
AZE Azerbaijan AS 20.00%
BHS Bahamas NO 0.00%
BHR Bahrain AS 0.00%
BGD Bangladesh AS 25.00%
BRB Barbados NO 5.50%
BLR Belarus EU 18.00%
BEL Belgium EU 25.00%
BEN Benin AF 30.00%
BMU Bermuda NO 0.00%
BTN Bhutan AS 30.00%
BOL Bolivia (Plurinational State of) SA 25.00%
BES Bonaire, Sint Eustatius and Saba NO 25.00%
BIH Bosnia and Herzegovina EU 10.00%
BWA Botswana AF 22.00%
BRA Brazil SA 34.00%
VGB British Virgin Islands NO 0.00%
BRN Brunei Darussalam AS 18.50%
BGR Bulgaria EU 10.00%
BFA Burkina Faso AF 28.00%
BDI Burundi AF 30.00%
CPV Cabo Verde AF 22.00%
KHM Cambodia AS 20.00%
CMR Cameroon AF 33.00%
CAN Canada NO 26.47%
CYM Cayman Islands NO 0.00%
CAF Central African Republic AF 30.00%
TCD Chad AF 35.00%
CHL Chile SA 25.00%
CHN China AS 25.00%
HKG China, Hong Kong Particular Administrative Area AS 16.50%
MAC China, Macao Particular Administrative Area AS 12.00%
COL Colombia SA 32.00%
COM Comoros AF 50.00%
COG Congo AF 30.00%
COK Cook dinner Islands OC 20.00%
CRI Costa Rica NO 30.00%
CIV Cote d’Ivoire AF 25.00%
HRV Croatia EU 18.00%
CUW Curacao NO 22.00%
CYP Cyprus EU 12.50%
CZE Czechia EU 19.00%
COD Democratic Republic of the Congo AF 35.00%
DNK Denmark EU 22.00%
DJI Djibouti AF 25.00%
DMA Dominica NO 25.00%
DOM Dominican Republic NO 27.00%
ECU Ecuador SA 25.00%
EGY Egypt AF 22.50%
SLV El Salvador NO 30.00%
GNQ Equatorial Guinea AF 35.00%
ERI Eritrea AF 30.00%
EST Estonia EU 20.00%
ETH Ethiopia AF 30.00%
FLK Falkland Islands (Malvinas) SA 26.00%
FRO Faroe Islands EU 18.00%
FJI Fiji OC 20.00%
FIN Finland EU 20.00%
FRA France EU 32.02%
PYF French Polynesia OC 25.00%
GAB Gabon AF 30.00%
GMB Gambia AF 31.00%
GEO Georgia AS 15.00%
DEU Germany EU 29.90%
GHA Ghana AF 25.00%
GIB Gibraltar EU 10.00%
GRC Greece EU 24.00%
GRL Greenland NO 26.50%
GRD Grenada NO 28.00%
GUM Guam OC 21.00%
GTM Guatemala NO 25.00%
GGY Guernsey EU 0.00%
GIN Guinea AF 35.00%
GNB Guinea-Bissau AF 25.00%
GUY Guyana SA 25.00%
HTI Haiti NO 30.00%
HND Honduras NO 25.00%
HUN Hungary EU 9.00%
ISL Iceland EU 20.00%
IND India AS 30.00%
IDN Indonesia AS 25.00%
IRN Iran (Islamic Republic of) AS 25.00%
IRQ Iraq AS 15.00%
IRL Eire EU 12.50%
IMN Isle of Man EU 0.00%
ISR Israel AS 23.00%
ITA Italy EU 27.81%
JAM Jamaica NO 25.00%
JPN Japan AS 29.74%
JEY Jersey EU 0.00%
JOR Jordan AS 20.00%
KAZ Kazakhstan AS 20.00%
KEN Kenya AF 30.00%
KIR Kiribati OC 35.00%
XKX Kosovo, Republic of EU 10.00%
KWT Kuwait AS 15.00%
KGZ Kyrgyzstan AS 10.00%
LAO Lao Folks’s Democratic Republic AS 24.00%
LVA Latvia EU 20.00%
LBN Lebanon AS 17.00%
LSO Lesotho AF 25.00%
LBR Liberia AF 25.00%
LBY Libya AF 20.00%
LIE Liechtenstein EU 12.50%
LTU Lithuania EU 15.00%
LUX Luxembourg EU 24.94%
MDG Madagascar AF 20.00%
MWI Malawi AF 30.00%
MYS Malaysia AS 24.00%
MDV Maldives AS 15.00%
MLI Mali AF 30.00%
MLT Malta EU 35.00%
MRT Mauritania AF 25.00%
MUS Mauritius AF 15.00%
MEX Mexico NO 30.00%
FSM Micronesia (Federated States of) OC 30.00%
MCO Monaco EU 28.00%
MNG Mongolia AS 25.00%
MNE Montenegro EU 9.00%
MSR Montserrat NO 30.00%
MAR Morocco AF 31.00%
MOZ Mozambique AF 32.00%
MMR Myanmar AS 25.00%
NAM Namibia AF 32.00%
NRU Nauru OC 25.00%
NPL Nepal AS 25.00%
NLD Netherlands EU 25.00%
NCL New Caledonia OC 30.00%
NZL New Zealand OC 28.00%
NIC Nicaragua NO 30.00%
NER Niger AF 30.00%
NGA Nigeria AF 30.00%
NIU Niue OC 30.00%
MNP Northern Mariana Islands OC 21.00%
NOR Norway EU 22.00%
OMN Oman AS 15.00%
PAK Pakistan AS 29.00%
PAN Panama NO 25.00%
PNG Papua New Guinea OC 30.00%
PRY Paraguay SA 10.00%
PER Peru SA 29.50%
PHL Philippines AS 30.00%
POL Poland EU 19.00%
PRT Portugal EU 31.50%
PRI Puerto Rico NO 37.50%
QAT Qatar AS 10.00%
KOR Republic of Korea AS 27.50%
MDA Republic of Moldova EU 12.00%
ROU Romania EU 16.00%
RUS Russian Federation EU 20.00%
RWA Rwanda AF 30.00%
BLM Saint Barthelemy NO 0.00%
SHN Saint Helena AF 25.00%
KNA Saint Kitts and Nevis NO 33.00%
LCA Saint Lucia NO 30.00%
MAF Saint Martin (French Half) NO 35.00%
VCT Saint Vincent and the Grenadines NO 30.00%
WSM Samoa OC 27.00%
SMR San Marino EU 17.00%
STP Sao Tome and Principe AF 25.00%
SAU Saudi Arabia AS 20.00%
SEN Senegal AF 30.00%
SRB Serbia EU 15.00%
SYC Seychelles AF 33.00%
SLE Sierra Leone AF 30.00%
SGP Singapore AS 17.00%
SXM Sint Maarten (Dutch half) NO 35.00%
SVK Slovakia EU 21.00%
SVN Slovenia EU 19.00%
SLB Solomon Islands OC 30.00%
ZAF South Africa AF 28.00%
SSD South Sudan AF 25.00%
ESP Spain EU 25.00%
LKA Sri Lanka AS 28.00%
PSE State of Palestine AS 15.00%
SDN Sudan AF 35.00%
SUR Suriname SA 36.00%
SWZ Swaziland AF 27.50%
SWE Sweden EU 21.40%
CHE Switzerland EU 21.15%
SYR Syrian Arab Republic AS 28.00%
TWN Taiwan AS 20.00%
TJK Tajikistan AS 23.00%
THA Thailand AS 20.00%
MKD The previous Yugoslav Republic of Macedonia EU 10.00%
TLS Timor-Leste OC 10.00%
TGO Togo AF 27.00%
TKL Tokelau OC 0.00%
TON Tonga OC 25.00%
TTO Trinidad and Tobago NO 30.00%
TUN Tunisia AF 25.00%
TUR Turkey AS 22.00%
TKM Turkmenistan AS 8.00%
TCA Turks and Caicos Islands NO 0.00%
UGA Uganda AF 30.00%
UKR Ukraine EU 18.00%
ARE United Arab Emirates AS 0.00%
GBR United Kingdom of Nice Britain and Northern Eire EU 19.00%
TZA United Republic of Tanzania AF 30.00%
USA United States of America NO 25.77%
VIR United States Virgin Islands NO 23.10%
URY Uruguay SA 25.00%
UZB Uzbekistan AS 7.50%
VUT Vanuatu OC 0.00%
VEN Venezuela (Bolivarian Republic of) SA 34.00%
VNM Viet Nam AS 20.00%
WLF Wallis and Futuna Islands OC 0.00%
YEM Yemen AS 20.00%
ZMB Zambia AF 35.00%
ZWE Zimbabwe AF 24.72%

Notes: Continent abbreviations are as follows: “AF” is Africa, “AS” is Asia, “EU” is Europe, “OC” is Oceania, “NO” is North America, and “SA” is South America. International locations are assigned to continents based mostly on ISO requirements; see DataHub.io, “Complete nation codes: ISO 3166, ITU, ISO 4217 foreign money codes and lots of extra,” https://datahub.io/core/country-codes#resource-country-codes_zip.

Sources: Statutory company earnings tax charges are from OECD, “Desk II.1. Statutory company earnings tax price;” KPMG, “Company tax charges desk;” and researched individually, see Tax Basis, “worldwide-corporate-tax-rates.”


[1]
Until in any other case famous, calculated averages of statutory company earnings tax charges solely embrace jurisdictions for which GDP information is obtainable for all years between 1980 and 2020. For 2020, the dataset consists of statutory company earnings tax charges of 223 jurisdictions, however GDP information is obtainable for less than 177 of those jurisdictions, decreasing the variety of jurisdictions included in calculated averages to 177. For years previous to 2020, the variety of nations included in calculated averages varies by 12 months on account of lacking company tax charges; that’s, the 1980 common consists of statutory company earnings tax charges of 74 jurisdictions, in comparison with 177 jurisdictions in 2020.

[2] Statutory company earnings tax charges are from OECD, “Desk II.1. Statutory company earnings tax price,” up to date April 2020, https://stats.oecd.org/index.aspx?DataSetCode=Table_II1; KPMG, “Company tax charges desk,” https://home.kpmg/xx/en/home/services/tax/tax-tools-and-resources/tax-rates-online/corporate-tax-rates-table.html; and researched individually, see Tax Basis, “worldwide-corporate-tax-rates,” GitHub, https://github.com/TaxFoundation/worldwide-corporate-tax-rates. GDP calculations are from the U.S. Division of Agriculture, “Worldwide Macroeconomics Knowledge Set,” Jan. 3, 2020, https://www.ers.usda.gov/data-products/international-macroeconomic-data-set/.

[3] Kari Jahnsen and Kyle Pomerleau, “Company Revenue Tax Charges across the World, 2017,” Tax Basis, Sept. 7, 2017, https://taxfoundation.org/corporate-income-tax-rates-around-the-world-2017/.

[4] See OECD, “Tax Coverage Reforms 2020,” Sept. 3, 2020, https://www.oecd.org/tax/tax-policy-reforms-26173433.htm. This part is proscribed to OECD nations as no complete supply for scheduled company price adjustments was accessible for non-OECD nations.

[5] As no averages are introduced on this part, it covers all 223 jurisdictions for which 2020 company earnings tax charges have been discovered (thus together with jurisdictions for which GDP information was not accessible).

[6] This common is decrease than the common of the 177 jurisdictions as a result of most of the jurisdictions for which no GDP information is obtainable are small economies with low company earnings tax charges.

[7] Industrialized nations are these which can be members of the OECD.

[8] Ibid.

[9] BRICS is a bunch of nations with main rising economies. The members of this group are Brazil, Russia, India, China, and South Africa.

[10] As no averages are introduced on this chapter, it covers all 223 jurisdictions for which 2020 company earnings tax charges have been discovered (thus together with jurisdictions for which GDP information was not accessible).

[11] Historic information comes from a number of sources: PwC, “Worldwide Tax Summaries – Company Taxes,” 2010-2019; KPMG, “Company Tax Charge Survey,” 1998- 2003; KPMG, “Company tax charges desk,” 2003-2019; EY, “Worldwide Company Tax Information,” 2004-2019; OECD, “Historic Desk II.1 – Statutory company earnings tax price,” 1999, http://www.oecd.org/tax/tax-policy/tax-database.htm#C_CorporateCaptial; the College of Michigan – Ross College of Enterprise, “World Tax Database,” https://www.bus.umich.edu/otpr/otpr/default.asp; and quite a few authorities web sites.

[12] This part of the report covers all 223 jurisdictions for which 2020 company earnings tax charges have been discovered (thus together with jurisdictions for which GDP information was not accessible).

[13] The jurisdictions Netherland Antilles (which was break up into completely different jurisdictions in 2010) and Kosovo (which has not but formally been assigned a rustic code) have been added to the dataset.

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