The comprehensive comparison of the taxation between different countries might be hindered by the fact that tax laws in most countries are extremely complex, and tax burden falls differently on different groups in each country and sub-national unit. Still, to enable cross-country comparison one can use the highest rates for each of the following tax types in each country:
The highest corporate tax rate among the 120 countries surveyed by KPMG is recorded in the United Arab Emirates, where corporations should pay 55 percent of their operating profit as a tax. However, this tax is only enforced on foreign oil companies. The US takes the second position with a top tax rate of 40 percent that is 16 percentage points higher than the average for all 120 countries. In contrast, Montenegro and Hungary have the lowest rate in the world of 9 percent, while the only major industrialized nation among the bottom 20 countries is Ireland, which is known for its low 12.5 percent rate.
There are currently 7 countries in the world without a corporate income tax. All these income tax-free countries are small island nations: the Bahamas, Cayman Islands, Bermuda, Bonaire, Isle of Man, Guernsey, and Bahrain. The latter, meanwhile, while not having general corporate income tax has a targeted corporate income tax on oil companies.
Overall, North America’s average corporate income tax rate of 33.25 percent is the highest among all regions. Europe has the lowest average tax rate at 19.71 percent, 4.58 percentage points below the worldwide average of 24.29 percent. Larger, more industrialized countries tend to have higher corporate income tax rates than the world as a whole. For example, the 35 nations of the OECD have an average corporate tax rate of 24.27 percent.
Over the past eight years, countries across the globe have reduced in average their corporation tax rates. Thus, if in 2006, the worldwide average was approximately 27.5 percent, by 2017, the average rate had declined by roughly 3 percentage points to 24.3 percent. This downward trend held across all regions of the globe. Asia saw the largest absolute drop in the average corporate tax rate, that declined from 29 percent in 2006 to 21 percent in 2017. Countries of Latin America, in turn, reduced their corporate income tax rates the least, from 29 to 28 percent.
Let Knoema deliver expertly-designed visualizations directly to your inbox.
According to Walk Free Foundation, there are an estimated 45.8 million people enslaved around the world. The countries with the highest numbers of enslaved people are India, China, Pakistan, Bangladesh, and Uzbekistan. Taken together, these countries account for 58% of enslaved people around the world. Modern slavery takes many forms and is known by many names: slavery, forced labor or human trafficking. Whatever term is used, the significant characteristic of all forms of modern slavery is that it involves one person depriving another people of their freedom: their freedom to leave one job for another, their freedom to...
The Global Competitiveness Index (GCI) is a global study on the basis of which ranking of countries in terms of economic competitiveness in the world is formed. The World Economic Forum defines competitiveness as the ability of the country and its institutions to ensure stable economic growth, which would be stable in the medium term. GCI is determined by numerous and very diverse factors which were divided into three subindexes: Basic requirements, Efficiency enhancers, Innovation and sophistication factors. The index is composed of 12 pillars of competitiveness. They are Institutions, Infrastructure, Macroeconomic...
Since 2003 until now Academic Ranking of World Universities (ARWU) conciders about 1000 universities all over the world in ordet to build ranking of 500 ones with the highest performance in academic and research fields. Its methodology implies assessing institutions by 6 indicators including alumni (Score on Alumni) and staff (Score on Award) winning Nobel Prizes and Fields Medals, highly cited researchers (Score on HiCi), papers published in Nature and Science (Score on N&S), papers indexed in major citation indices (Score on PUB), and the per capita academic performance of an institution (Score on PCP). In each field...
GDP, Constant Prices|Agriculture and Allied|Agriculture|Industry|Mining and Quarrying|Manufacturing|Services|Database