Posts Tagged The Tax Foundation
The key findings of the latest summary of worldwide corporate tax data published by The Tax Foundation are:
- The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates.
- The worldwide average top corporate income tax rate is 22.6 percent (30.6 percent weighted by GDP).
- By region, Europe has the lowest average corporate tax rate at 18.6 percent (26.3 percent weighted by GDP); Africa has the highest average tax rate at 29.1 percent.
- Larger, more industrialized countries tend to have higher corporate income tax rates than developing countries.
- The worldwide (simple) average top corporate tax rate has declined over the past decade from 29.5 percent to 22.6 percent.
- Every region in the world has seen a decline in their average corporate tax rate in the past decade.