The Decline of Corporate Tax Rates since 1980.Regional Variation in Corporate Tax Rates.The Highest and Lowest Corporate Tax Rates in the World.Scheduled Corporate Tax Rate Changes in the OECD.Notable Corporate Tax Rate Changes in 2021.The average statutory corporate tax rate has declined in every region since 1980.
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The worldwide average statutory corporate tax rate has consistently decreased since 1980, with the largest decline occurring in the early 2000s. The average top corporate rate among EU27 countries is 21.30 percent, 23.04 percent among OECD countries, and 69 percent in the G7. However, when weighted for GDP, Europe has the lowest regional average rate at 23.97 percent and South America has the highest at 31.03 percent. When weighted by GDP, the average statutory rate is 25.44 percent.Īsia has the lowest regional average rate, at 19.62 percent, while Africa has the highest regional average statutory rate, at 27.97 percent. The worldwide average statutory corporate income tax rate, measured across 180 jurisdictions, is 23.54 percent. Fifteen jurisdictions do not impose corporate tax. Three countries-Bangladesh, Argentina, and Gibraltar-increased their top corporate tax rates, while 17 countries-including Chile, Tunisia, and France-reduced their corporate tax rates.Ĭomoros (50 percent), Puerto Rico (37.5 percent), and Suriname (36 percent) are the jurisdictions with the highest corporate tax rates in the world, while Barbados (5.5 percent), Uzbekistan (7.5 percent), and Turkmenistan (8 percent) levy the lowest corporate rates. In 2021, 20 countries made changes to their statutory corporate income tax rates. Note: All data and methodological notes are accessible in our GitHub repository.