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List of countries by tax rates; ... 24.5%; 20% corporate tax plus a 4% Jehad tax plus a 0.5% tax on corporate income to pay for stamp duties [134] — — —
In this article, we are going to list the 15 countries with the highest corporate tax rates. Click to skip ahead and jump to the 5 countries with the highest corporate tax rates.
The quoted income tax rate is, except where noted, the top rate of tax: most jurisdictions have lower rate of taxes for low levels of income. Some countries also have lower rates of corporation tax for smaller companies. In 1980, the top rates of most European countries were above 60%. Today most European countries have rates below 50%. [1]
Corporate tax rates vary widely by country, leading some corporations to shield earnings within offshore subsidiaries or to redomicile within countries with lower tax rates. In comparing national corporate tax rates one should also take into account the taxes on dividends paid to shareholders.
Corporate tax rate: 26.5% America’s neighbors to the north face a smaller tax bite. Canada’s top individual tax rate is about 7 percentage points lower than America’s top rate.
The global minimum corporate tax rate, or simply the global minimum tax (abbreviated GMCT or GMCTR), is a minimum rate of tax on corporate income internationally agreed upon and accepted by individual jurisdictions in the OECD/G20 Inclusive Framework. Each country would be eligible for a share of revenue generated by the tax.
The tax percentage for each country listed in the source has been added to the chart. According to World Bank , "GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
A country's tax environment is considered as more attractive, the more the value of the index approaches one. The T.A.X. is an alternative measurement to the statutory tax rate, and can be considered to be a more accurate proxy for a country's tax environment. Many high tax countries, especially in Europe, offer extremely favorable tax conditions.