Corporate Tax Rates by Country 2022

Everywhere you travel, you will encounter a government policy known as corporate tax. Corporate tax is, at its heart, a percentage-based tax imposed on corporations, the amount of which is established in advance by the relevant government.

When it comes to corporate taxes, firms and corporations that produce a profit are immediately hit with them.

Globally, there is a wide range of corporation tax rates. Instead of a worldwide regulation controlling the rates of corporation taxation, each country’s municipal, federal and national governments choose the tax rates for their citizens.

Tax Rates on Corporations in 2021

This year, twenty different nations’ corporate income tax rates will vary. Bangladesh, Argentina, and Gibraltar announced a rise in corporation tax rates.

Bangladesh increased its rate from 25 percent to 32.5 percent, Argentina increased from 30 percent to 35 percent, and Gilbratar increased its rate from 10 percent to 12.5 percent.

Seventeen nations reduced their corporation tax rates: Sweden, Colombia, 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 nations had a decline in their rates ranging from less than 1% in Sweden to 15% in Chile.

Comoros’s corporate taxes are at a staggering 50%, the highest percentage globally. Suriname, with 36%, and Puerto Rico, with 37.5%, round out the top three.

Excluding jurisdictions with 0% business tax rates, the nations with the lowest corporate tax rates are Barbados at 5.5%, Uzbekistan at 7.5%, and Turkmenistan at 8%.

Also See: Core Countries 2022

There is no business income tax in fifteen nations. Bahrain, Bermuda, Cayman Islands Guernsey, Isle of Man Jersey Saint Barthelemy Turk & Caicos Islands the United Arab Emirates Vanuatu and Wallis & Futuna Islands Anguilla the Bahamas Bahrain