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Corporate Tax Rate

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

Click on a country for details.

Corporate Tax Rates by Country 2023

Corporate tax is a federal policy that you are likely to run into no matter where on Earth you go. At its core, corporate tax refers to a percentage-dependent tax placed on businesses and predetermined by the specific jurisdiction. Essentially, corporate taxes are directly applied to companies and corporations that make a profit. The corporate tax rates vary from place to place around the world. There is not a global rule that controls the corporate tax rates from one country to the next; rather, the tax rates are based on each country's local, federal, and national governments.

Corporate Tax Rates in 2021

In 2021, 20 countries changed their statutory corporate income tax rates. Three countries increased their corporate tax rates: Bangladesh, Argentina, and Gibraltar. Bangladesh raised its rate from 25% to 32.5%; Argentina's from 30% to 35%, and Gilbratar's from 10% to 12.5%. Seventeen countries decreased their corporate tax rates: Sweden, Colombia, Switzerland, Monaco, Congo, Turkey, Indonesia, France, Gambia, Lao People's Democratic Republic, Sri Lanka, Angola, the Democratic Republic of the Congo, Bhutan, Kiribati, Tunisia, and Chile. These countries decreased their rates from just under 1% in Sweden to a 15% reduction in Chile.

Comoros has the highest corporate tax rate globally of 50%. Puerto Rico follows at 37.5%, and Suriname at 36%. Excluding jurisdictions with corporate tax rates of 0%, the countries with the lowest corporate tax rates are Barbados at 5.5%, Uzbekistan at 7.5%, and Turkmenistan at 8%. Fifteen countries do not have a general corporate income tax. Those countries are Anguilla, the Bahamas, Bahrain, Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Isle of Man, Jersey, Saint Barthelemy, Turks and Caicos, the United Arab Emirates, Vanuatu, and Wallis and Futuna Islands.

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Country
Corporate Tax Rate
Comoros50%
Puerto Rico37%
Suriname36%
Sudan35%
Argentina35%
Zambia35%
Chad35%
Guinea35%
Cuba35%
Equatorial Guinea35%
Malta35%
Sint Maarten35%
Saint Martin35%
Brazil34%
Venezuela34%
American Samoa34%
Cameroon33%
Seychelles33%
Saint Kitts and Nevis33%
Bangladesh32%
Mozambique32%
Namibia32%
Colombia31%
Morocco31%
Portugal31%
India30%
Nigeria30%
Mexico30%
Ethiopia30%
Philippines30%
DR Congo30%
Tanzania30%
Kenya30%
Uganda30%
Niger30%
Australia30%
Mali30%
Malawi30%
Senegal30%
Rwanda30%
Benin30%
Burundi30%
Haiti30%
Papua New Guinea30%
Sierra Leone30%
Nicaragua30%
El Salvador30%
Central African Republic30%
Costa Rica30%
Eritrea30%
Gabon30%
Trinidad and Tobago30%
Solomon Islands30%
New Caledonia30%
Saint Lucia30%
Kiribati30%
Micronesia30%
Saint Vincent and the Grenadines30%
Montserrat30%
Niue30%
Pakistan29%
Japan29%
Germany29%
Peru29%
France28%
South Africa28%
Burkina Faso28%
Syria28%
Republic of the Congo28%
New Zealand28%
Grenada28%
Italy27%
South Korea27%
Dominican Republic27%
Togo27%
Gambia27%
Samoa27%
Algeria26%
Canada26%
Greenland26%
Monaco26%
Falkland Islands26%
China25%
United States25%
Iran25%
Myanmar25%
Spain25%
Angola25%
Ghana25%
Nepal25%
Ivory Coast25%
Ecuador25%
Guatemala25%
Netherlands25%
Bolivia25%
Belgium25%
South Sudan25%
Honduras25%
Austria25%
Liberia25%
Mauritania25%
Panama25%
Mongolia25%
Uruguay25%
Jamaica25%
Lesotho25%
Guinea Bissau25%
Djibouti25%
Guyana25%
Bhutan25%
Belize25%
French Polynesia25%
Sao Tome and Principe25%
Tonga25%
Aruba25%
Antigua and Barbuda25%
Dominica25%
Nauru25%
Malaysia24%
Sri Lanka24%
Zimbabwe24%
Greece24%
Luxembourg24%
Tajikistan23%
Israel23%
United States Virgin Islands23%
Indonesia22%
Egypt22%
Denmark22%
Norway22%
Botswana22%
Curacao22%
Slovakia21%
Guam21%
Northern Mariana Islands21%
Russia20%
Vietnam20%
Turkey20%
Thailand20%
Afghanistan20%
Saudi Arabia20%
Yemen20%
Madagascar20%
Taiwan20%
Kazakhstan20%
Cambodia20%
Jordan20%
Sweden20%
Azerbaijan20%
Laos20%
Libya20%
Finland20%
Latvia20%
Estonia20%
Fiji20%
Iceland20%
Cook Islands20%
United Kingdom19%
Poland19%
Switzerland19%
Slovenia19%
Ukraine18%
Belarus18%
Croatia18%
Armenia18%
Brunei18%
Faroe Islands18%
Singapore17%
Lebanon17%
San Marino17%
Romania16%
Hong Kong16%
Iraq15%
Chile15%
Tunisia15%
Serbia15%
Palestine15%
Oman15%
Kuwait15%
Georgia15%
Albania15%
Lithuania15%
Mauritius15%
Maldives15%
Ireland12%
Moldova12%
Cyprus12%
Liechtenstein12%
Gibraltar12%
Paraguay10%
Kyrgyzstan10%
Bulgaria10%
Bosnia and Herzegovina10%
Qatar10%
North Macedonia10%
Timor Leste10%
Andorra10%
Hungary9%
Montenegro9%
Turkmenistan8%
Uzbekistan7%
Barbados5%
United Arab Emirates
Bahrain
Bahamas
Vanuatu
Jersey
Isle of Man
Cayman Islands
Bermuda
Guernsey
Turks and Caicos Islands
British Virgin Islands
Anguilla
Wallis and Futuna
Saint Barthelemy
Tokelau
showing: 217 rows

Which country has the highest corporate tax rate?

Comoros is currently the country with the highest corporate tax rate. If you own a business in this country, your corporate tax rate will be 50%.

Which country has the lowest corporate tax rate?

Barbados has the lowest corporate tax rate at 5%. However, there are several countries, such as the Bahamas, Cayman Islands, and Bermuda that don't have a corporate tax rate at all.

Frequently Asked Questions

Sources