Recent data unveils the global variance in tax rates, spanning from notably low to notably high figures. If we talk about the lowest tax rates, they are found in smaller countries to attract investment from multinational companies. Many multinational companies have given $1 trillion for investment in those countries in 2022. Some of these countries have 0% tax rates while some have 5% tax rates. The global average corporate tax rate is 23.5%.
Based on the data from Tax Foundation, the country with the lowest tax rate is Barbados with 5.5% tax rate as of 2023. It is followed by Turkmenistan which has an 8.0% tax rate. Hungary and UAE both have 9.0% tax rate. Other countries included in the top ten list of countries with lowest tax rates are Andorra, Bosnia and Herzegovina, Bulgaria, Kosova, Kyrgyzstan and Paraguay. All these countries have a tax rate of 10.0%. If we compare these tax rates with the countries with lowest tax rates in the 1980s, Hong Kong was the country with lowest tax rate at 17.0%. In 2023, 91% of the countries across jurisdiction have a tax rate under 30%.
Now talking about the countries with highest tax rates, Comoros takes the lead with 50.0% tax rate. It is followed by Puerto Rico with 37.5% tax rate and Suriname with 36.0% tax rate. Other countries which are in the top ten list of countries with highest tax rates are Argentina, Chad, Colombia, Cuba, Equatorial Guinea, Malta and Sudan. All these countries have a tax rate of 35.0%. This list shows that countries in Africa and South America have the highest tax rates, with Malta being the only European country. If we compare these tax rates to countries with the highest tax rates in the 1980s, Ghana was at the top with 60% tax rate. Countries like India, China and the United Kingdom also had tax rates above 50%.
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Based on the data from Tax Foundation, the country with the lowest tax rate is Barbados with 5.5% tax rate as of 2023. It is followed by Turkmenistan which has an 8.0% tax rate. Hungary and UAE both have 9.0% tax rate. Other countries included in the top ten list of countries with lowest tax rates are Andorra, Bosnia and Herzegovina, Bulgaria, Kosova, Kyrgyzstan and Paraguay. All these countries have a tax rate of 10.0%. If we compare these tax rates with the countries with lowest tax rates in the 1980s, Hong Kong was the country with lowest tax rate at 17.0%. In 2023, 91% of the countries across jurisdiction have a tax rate under 30%.
Now talking about the countries with highest tax rates, Comoros takes the lead with 50.0% tax rate. It is followed by Puerto Rico with 37.5% tax rate and Suriname with 36.0% tax rate. Other countries which are in the top ten list of countries with highest tax rates are Argentina, Chad, Colombia, Cuba, Equatorial Guinea, Malta and Sudan. All these countries have a tax rate of 35.0%. This list shows that countries in Africa and South America have the highest tax rates, with Malta being the only European country. If we compare these tax rates to countries with the highest tax rates in the 1980s, Ghana was at the top with 60% tax rate. Countries like India, China and the United Kingdom also had tax rates above 50%.
| Country | Continent | Corporate Tax Rate |
|---|---|---|
| Comoros | Africa | 50.00% |
| Puerto Rico | North America | 37.50% |
| Suriname | South America | 36.00% |
| Argentina | South America | 35.00% |
| Chad | Africa | 35.00% |
| Colombia | South America | 35.00% |
| Cuba | North America | 35.00% |
| Equatorial Guinea | Africa | 35.00% |
| Malta | Europe | 35.00% |
| Sudan | Africa | 35.00% |
| Sint Maarten (Dutch Part) | North America | 34.50% |
| American Samoa | Oceania | 34.00% |
| Brazil | South America | 34.00% |
| Venezuela (Bolivarian Republic of) | South America | 34.00% |
| Cameroon | Africa | 33.00% |
| Saint Kitts and Nevis | North America | 33.00% |
| Morocco | Africa | 32.00% |
| Mozambique | Africa | 32.00% |
| Namibia | Africa | 32.00% |
| Portugal | Europe | 31.50% |
| Australia | Oceania | 30.00% |
| Benin | Africa | 30.00% |
| Burundi | Africa | 30.00% |
| Central African Republic | Africa | 30.00% |
| Costa Rica | North America | 30.00% |
| Democratic Republic of the Congo | Africa | 30.00% |
| El Salvador | North America | 30.00% |
| Eritrea | Africa | 30.00% |
| Ethiopia | Africa | 30.00% |
| Gabon | Africa | 30.00% |
| Haiti | North America | 30.00% |
| Honduras | North America | 30.00% |
| India | Asia | 30.00% |
| Kenya | Africa | 30.00% |
| Kiribati | Oceania | 30.00% |
| Malawi | Africa | 30.00% |
| Mali | Africa | 30.00% |
| Mexico | North America | 30.00% |
| Micronesia (Federated States of) | Oceania | 30.00% |
| Montserrat | North America | 30.00% |
| New Caledonia | Oceania | 30.00% |
| Nicaragua | North America | 30.00% |
| Niger | Africa | 30.00% |
| Nigeria | Africa | 30.00% |
| Niue | Oceania | 30.00% |
| Papua New Guinea | Oceania | 30.00% |
| Rwanda | Africa | 30.00% |
| Saint Lucia | North America | 30.00% |
| Senegal | Africa | 30.00% |
| Solomon Islands | Oceania | 30.00% |
| South Sudan | Africa | 30.00% |
| Sri Lanka | Asia | 30.00% |
| Trinidad and Tobago | North America | 30.00% |
| Uganda | Africa | 30.00% |
| United Republic of Tanzania | Africa | 30.00% |
| Zambia | Africa | 30.00% |
| Germany | Europe | 29.94% |
| Japan | Asia | 29.74% |
| Peru | South America | 29.50% |
| Pakistan | Asia | 29.00% |
| Congo | Africa | 28.00% |
| Grenada | North America | 28.00% |
| New Zealand | Oceania | 28.00% |
| Saint Vincent and the Grenadines | North America | 28.00% |
| Syrian Arab Republic | Asia | 28.00% |
| Italy | Europe | 27.81% |
| Bangladesh | Asia | 27.50% |
| Burkina Faso | Africa | 27.50% |
| Swaziland | Africa | 27.50% |
| Chile | South America | 27.00% |
| Dominican Republic | North America | 27.00% |
| Gambia | Africa | 27.00% |
| Samoa | Oceania | 27.00% |
| South Africa | Africa | 27.00% |
| Togo | Africa | 27.00% |
| Greenland | North America | 26.50% |
| Republic of Korea | Asia | 26.50% |
| Canada | North America | 26.21% |
| Algeria | Africa | 26.00% |
| Falkland Islands (Malvinas) | South America | 26.00% |
| France | Europe | 25.83% |
| Bonaire, Sint Eustatius and Saba | North America | 25.80% |
| Netherlands | Europe | 25.80% |
| United States of America | North America | 25.77% |
| Angola | Africa | 25.00% |
| Antigua and Barbuda | North America | 25.00% |
| Belgium | Europe | 25.00% |
| Bhutan | Asia | 25.00% |
| Bolivia (Plurinational State of) | South America | 25.00% |
| China | Asia | 25.00% |
| Cote d'Ivoire | Africa | 25.00% |
| Djibouti | Africa | 25.00% |
| Dominica | North America | 25.00% |
| Ecuador | South America | 25.00% |
| French Polynesia | Oceania | 25.00% |
| Ghana | Africa | 25.00% |
| Guatemala | North America | 25.00% |
| Guinea | Africa | 25.00% |
| Guinea-Bissau | Africa | 25.00% |
| Guyana | South America | 25.00% |
| Iran (Islamic Republic of) | Asia | 25.00% |
| Jamaica | North America | 25.00% |
| Lesotho | Africa | 25.00% |
| Liberia | Africa | 25.00% |
| Mauritania | Africa | 25.00% |
| Monaco | Europe | 25.00% |
| Mongolia | Asia | 25.00% |
| Nauru | Oceania | 25.00% |
| Nepal | Asia | 25.00% |
| Panama | North America | 25.00% |
| Philippines | Asia | 25.00% |
| Saint Helena | Africa | 25.00% |
| Sao Tome and Principe | Africa | 25.00% |
| Seychelles | Africa | 25.00% |
| Sierra Leone | Africa | 25.00% |
| Spain | Europe | 25.00% |
| Tonga | Oceania | 25.00% |
| Turkey | Asia | 25.00% |
| United Kingdom of Great Britain and Northern Ireland | Europe | 25.00% |
| Uruguay | South America | 25.00% |
| Luxembourg | Europe | 24.94% |
| Zimbabwe | Africa | 24.72% |
| Austria | Europe | 24.00% |
| Malaysia | Asia | 24.00% |
| United States Virgin Islands | North America | 23.10% |
| Israel | Asia | 23.00% |
| Egypt | Africa | 22.50% |
| Cabo Verde | Africa | 22.44% |
| Aruba | North America | 22.00% |
| Botswana | Africa | 22.00% |
| Curacao | North America | 22.00% |
| Denmark | Europe | 22.00% |
| Greece | Europe | 22.00% |
| Indonesia | Asia | 22.00% |
| Myanmar | Asia | 22.00% |
| Norway | Europe | 22.00% |
| Guam | Oceania | 21.00% |
| Northern Mariana Islands | Oceania | 21.00% |
| Slovakia | Europe | 21.00% |
| Sweden | Europe | 20.60% |
| Afghanistan | Asia | 20.00% |
| Aland Islands | Europe | 20.00% |
| Azerbaijan | Asia | 20.00% |
| Belarus | Europe | 20.00% |
| Cambodia | Asia | 20.00% |
| Cook Islands | Oceania | 20.00% |
| Estonia | Europe | 20.00% |
| Fiji | Oceania | 20.00% |
| Finland | Europe | 20.00% |
| Iceland | Europe | 20.00% |
| Jordan | Asia | 20.00% |
| Kazakhstan | Asia | 20.00% |
| Lao People's Democratic Republic | Asia | 20.00% |
| Latvia | Europe | 20.00% |
| Libya | Africa | 20.00% |
| Madagascar | Africa | 20.00% |
| Russian Federation | Europe | 20.00% |
| Saint Martin (French Part) | North America | 20.00% |
| Saudi Arabia | Asia | 20.00% |
| Taiwan | Asia | 20.00% |
| Thailand | Asia | 20.00% |
| Viet Nam | Asia | 20.00% |
| Yemen | Asia | 20.00% |
| Switzerland | Europe | 19.65% |
| Czechia | Europe | 19.00% |
| Poland | Europe | 19.00% |
| Slovenia | Europe | 19.00% |
| Brunei Darussalam | Asia | 18.50% |
| Armenia | Asia | 18.00% |
| Croatia | Europe | 18.00% |
| Faroe Islands | Europe | 18.00% |
| Tajikistan | Asia | 18.00% |
| Ukraine | Europe | 18.00% |
| Lebanon | Asia | 17.00% |
| San Marino | Europe | 17.00% |
| Singapore | Asia | 17.00% |
| China, Hong Kong Special Administrative Region | Asia | 16.50% |
| Romania | Europe | 16.00% |
| Albania | Europe | 15.00% |
| Georgia | Asia | 15.00% |
| Iraq | Asia | 15.00% |
| Kuwait | Asia | 15.00% |
| Lithuania | Europe | 15.00% |
| Maldives | Asia | 15.00% |
| Mauritius | Africa | 15.00% |
| Montenegro | Europe | 15.00% |
| Oman | Asia | 15.00% |
| Serbia | Europe | 15.00% |
| State of Palestine | Asia | 15.00% |
| Tunisia | Africa | 15.00% |
| Uzbekistan | Asia | 15.00% |
| Cyprus | Europe | 12.50% |
| Gibraltar | Europe | 12.50% |
| Ireland | Europe | 12.50% |
| Liechtenstein | Europe | 12.50% |
| China, Macao Special Administrative Region | Asia | 12.00% |
| Republic of Moldova | Europe | 12.00% |
| Andorra | Europe | 10.00% |
| Bosnia and Herzegovina | Europe | 10.00% |
| Bulgaria | Europe | 10.00% |
| Kosovo (Republic of) | Europe | 10.00% |
| Kyrgyzstan | Asia | 10.00% |
| Paraguay | South America | 10.00% |
| Qatar | Asia | 10.00% |
| The Former Yugoslav Republic of Macedonia | Europe | 10.00% |
| Timor-Leste | Oceania | 10.00% |
| Hungary | Europe | 9.00% |
| United Arab Emirates | Asia | 9.00% |
| Turkmenistan | Asia | 8.00% |
| Barbados | North America | 5.50% |
| Anguilla | North America | 0.00% |
| Bahamas | North America | 0.00% |
| Bahrain | Asia | 0.00% |
| Belize | North America | 0.00% |
| Bermuda | North America | 0.00% |
| British Virgin Islands | North America | 0.00% |
| Cayman Islands | North America | 0.00% |
| Guernsey | Europe | 0.00% |
| Isle of Man | Europe | 0.00% |
| Jersey | Europe | 0.00% |
| Saint Barthelemy | North America | 0.00% |
| Tokelau | Oceania | 0.00% |
| Turks and Caicos Islands | North America | 0.00% |
| Vanuatu | Oceania | 0.00% |
| Wallis and Futuna Islands | Oceania | 0.00% |
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