Corporate Marginal Tax Rates - By country

Source: KPMG

From: January 2018 Update

Download as an excel file instead: http://www.stern.nyu.edu/~adamodar/pc/datasets/countrytaxrates.xls

Country 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Afghanistan 0.00% 0.00% 0.00% 0.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Albania 25.00% 25.00% 23.00% 20.00% 20.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 15.00% 15.00% 15.00% 15.00%
Algeria 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00% 19.00% 23.00% 26.00% 26.00%
Andorra 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.00%
Angola 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 30.00% 30.00% 30.00%
Anguilla 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Antigua and Barbuda 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Argentina 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Armenia 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Aruba 0.00% 0.00% 35.00% 35.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 25.00% 25.00% 25.00%
Australia 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Austria 34.00% 34.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Azerbaijan 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 20.00%
Bahamas 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Bahrain 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Bangladesh 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 27.50% 27.50% 27.50% 27.50% 27.50% 27.50% 25.00% 25.00% 25.00%
Barbados 36.00% 33.00% 30.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Belarus 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 18.00% 18.00% 18.00% 18.00% 18.00% 18.00%
Belgium 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99% 33.99%
Benin 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Bermuda 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Bolivia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Bonaire, Saint Eustatius and Saba 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Bosnia and Herzegovina 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Botswana 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 22.00% 22.00% 22.00% 22.00% 22.00% 22.00% 22.00%
Brazil 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00%
Brunei Darussalam 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 18.50%
Bulgaria 23.50% 19.50% 15.00% 15.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Burkina Faso 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27.50%
Burundi 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Cambodia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Cameroon 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 33.00% 33.00% 33.00%
Canada 36.60% 36.10% 36.10% 36.10% 36.10% 33.50% 33.00% 31.00% 28.00% 26.00% 26.00% 26.50% 26.50% 26.50% 26.50%
Cayman Islands 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Chile 16.50% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 20.00% 18.50% 20.00% 20.00% 24.00% 24.00% 25.50%
China 33.00% 33.00% 33.00% 33.00% 33.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Colombia 35.00% 35.00% 35.00% 35.00% 34.00% 33.00% 33.00% 33.00% 33.00% 33.00% 25.00% 25.00% 25.00% 25.00% 34.00%
Congo (Democratic Republic of the) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 35.00%
Costa Rica 36.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Croatia 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Curacao 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 34.50% 27.50% 27.50% 27.50% 22.00% 22.00% 22.00%
Cyprus 15.00% 15.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 12.50% 12.50% 12.50% 12.50% 12.50%
Czech Republic 31.00% 28.00% 26.00% 24.00% 24.00% 21.00% 20.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00%
Denmark 30.00% 30.00% 28.00% 28.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 24.50% 22.00% 22.00% 22.00%
Djibouti 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Dominica 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Dominican Republic 25.00% 25.00% 25.00% 30.00% 25.00% 25.00% 25.00% 25.00% 29.00% 29.00% 29.00% 28.00% 27.00% 27.00% 27.00%
Ecuador 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 24.00% 23.00% 22.00% 22.00% 22.00% 22.00% 22.00%
Egypt 42.00% 42.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 25.00% 25.00% 25.00% 22.50% 22.50% 22.50%
El Salvador 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Estonia 26.00% 26.00% 24.00% 23.00% 22.00% 21.00% 21.00% 21.00% 21.00% 21.00% 21.00% 21.00% 20.00% 20.00% 20.00%
Ethiopia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Fiji 32.00% 31.00% 31.00% 31.00% 31.00% 31.00% 29.00% 28.00% 28.00% 28.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Finland 29.00% 29.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 26.00% 24.50% 24.50% 20.00% 20.00% 20.00% 20.00%
France 34.33% 34.33% 33.83% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.30% 33.33%
Gabon 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Gambia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31.00%
Georgia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Germany 39.58% 38.29% 38.31% 38.34% 38.36% 29.51% 29.44% 29.41% 29.37% 29.48% 29.55% 29.58% 29.72% 29.72% 29.79%
Ghana 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Gibraltar 35.00% 35.00% 35.00% 35.00% 35.00% 33.00% 27.00% 22.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Greece 35.00% 35.00% 32.00% 29.00% 25.00% 25.00% 25.00% 24.00% 20.00% 20.00% 26.00% 26.00% 29.00% 29.00% 29.00%
Grenada 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Guatemala 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 31.00% 28.00% 25.00% 25.00% 25.00%
Guernsey 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Honduras 25.00% 25.00% 30.00% 30.00% 30.00% 30.00% 30.00% 25.00% 35.00% 35.00% 35.00% 30.00% 30.00% 30.00% 25.00%
Hong Kong SAR 16.00% 17.50% 17.50% 17.50% 17.50% 16.50% 16.50% 16.50% 16.50% 16.50% 16.50% 16.50% 16.50% 16.50% 16.50%
Hungary 18.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 9.00%
Iceland 18.00% 18.00% 18.00% 18.00% 18.00% 15.00% 15.00% 18.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
India 36.75% 35.88% 36.59% 33.66% 33.99% 33.99% 33.99% 33.99% 32.44% 32.45% 33.99% 33.99% 34.61% 34.61% 30.00%
Indonesia 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 28.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Iraq 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Ireland 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50%
Isle of Man 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Israel 36.00% 35.00% 34.00% 31.00% 29.00% 27.00% 26.00% 25.00% 24.00% 25.00% 25.00% 26.50% 25.00% 25.00% 24.00%
Italy 38.25% 37.25% 37.25% 37.25% 37.25% 31.40% 31.40% 31.40% 31.40% 31.40% 31.40% 31.40% 31.40% 31.40% 24.00%
Ivory Coast 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Jamaica 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 33.33% 25.00% 25.00% 25.00% 25.00% 25.00%
Japan 42.00% 42.00% 40.69% 40.69% 40.69% 40.69% 40.69% 40.69% 40.69% 38.01% 38.01% 35.64% 33.86% 30.86% 30.86%
Jersey 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 20.00% 20.00% 20.00%
Jordan 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 14.00% 14.00% 14.00% 14.00% 14.00% 20.00% 20.00% 20.00%
Kazakhstan 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Kenya 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Korea, Republic of 29.70% 29.70% 27.50% 27.50% 27.50% 27.50% 24.20% 24.20% 22.00% 24.20% 24.20% 24.20% 24.20% 24.20% 22.00%
Kuwait 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Kyrgyzstan 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.00%
Latvia 19.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Lebanon 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Libya 30.38% 30.38% 30.38% 30.38% 40.00% 40.00% 40.00% 40.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Liechtenstein 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50%
Lithuania 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 20.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Luxembourg 30.38% 30.38% 30.38% 29.63% 29.63% 29.63% 28.59% 28.59% 28.80% 28.80% 29.22% 29.22% 29.22% 29.22% 27.08%
Macau 15.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%
Macedonia 15.00% 15.00% 15.00% 15.00% 12.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Madagascar 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 20.00%
Malawi 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Malaysia 25.00% 28.00% 28.00% 28.00% 27.00% 26.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 24.00% 24.00% 24.00%
Malta 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Mauritius 25.00% 25.00% 25.00% 25.00% 22.50% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Mexico 34.00% 33.00% 30.00% 29.00% 28.00% 28.00% 28.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Moldova 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.00% 12.00% 12.00%
Monaco 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 33.33%
Mongolia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Montenegro 0.00% 0.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%
Morocco 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00% 30.00% 31.00% 31.00% 31.00%
Mozambique 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00% 32.00%
Myanmar 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00%
Namibia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 34.00% 34.00% 33.00% 33.00% 33.00% 32.00% 32.00%
Netherlands 33.00% 34.50% 31.50% 29.60% 25.50% 25.50% 25.50% 25.50% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
New Zealand 33.00% 33.00% 33.00% 33.00% 33.00% 30.00% 30.00% 30.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%
Nicaragua 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Nigeria 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Norway 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 27.00% 27.00% 25.00% 24.00%
Oman 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 15.00%
Pakistan 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 34.00% 33.00% 32.00% 31.00%
Palestinian Territory 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 15.00%
Panama 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 27.50% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Papua New Guinea 27.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Paraguay 32.00% 30.00% 20.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Peru 27.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 29.50%
Philippines 33.00% 32.00% 32.00% 35.00% 35.00% 35.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Poland 27.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00%
Portugal 25.00% 27.50% 27.50% 27.50% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 23.00% 21.00% 21.00% 21.00%
Qatar 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 0.00% 10.00%
Romania 25.00% 25.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00% 16.00%
Russia 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Rwanda 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Saint Kitts and Nevis 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 33.00%
Saint Lucia 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Saint Vincent and the Grenadines 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 32.50%
Samoa 29.00% 29.00% 29.00% 29.00% 27.00% 27.00% 27.00% 27.00% 27.00% 27.00% 27.00% 27.00% 27.00% 27.00% 27.00%
Saudi Arabia 30.00% 30.00% 30.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Senegal 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
Serbia 14.00% 12.33% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Sierra Leone 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00% 30.00% 30.00% 30.00%
Singapore 22.00% 22.00% 20.00% 20.00% 20.00% 18.00% 18.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
Sint Maarten (Dutch part) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 34.50% 34.50% 34.50% 34.50% 34.50% 34.50% 34.50%
Slovakia 25.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 19.00% 23.00% 22.00% 22.00% 22.00% 21.00%
Slovenia 35.00% 25.00% 25.00% 25.00% 23.00% 22.00% 21.00% 20.00% 20.00% 18.00% 17.00% 17.00% 17.00% 17.00% 19.00%
Solomon Islands 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00%
South Africa 37.78% 37.78% 37.78% 36.89% 36.89% 34.55% 34.55% 34.55% 34.55% 34.55% 28.00% 28.00% 28.00% 28.00% 28.00%
Spain 35.00% 35.00% 35.00% 35.00% 32.50% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 28.00% 25.00% 25.00%
Sri Lanka 28.00% 35.00% 32.50% 32.50% 35.00% 35.00% 35.00% 35.00% 28.00% 28.00% 28.00% 28.00% 28.00% 15.00% 28.00%
St Maarten 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24.50% 34.50% 34.50%
Sudan 35.00% 35.00% 35.00% 35.00% 30.00% 15.00% 15.00% 15.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Suriname 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 36.00% 34.50% 34.50% 34.50% 36.00%
Swaziland 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27.50%
Sweden 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 26.30% 26.30% 26.30% 26.30% 22.00% 22.00% 22.00% 22.00% 22.00%
Switzerland 25.00% 24.10% 21.99% 21.30% 20.63% 19.20% 18.96% 18.75% 18.31% 18.06% 18.01% 17.92% 17.92% 17.92% 17.77%
Syria 35.00% 35.00% 35.00% 35.00% 28.00% 28.00% 28.00% 28.00% 28.00% 28.00% 22.00% 22.00% 22.00% 22.00% 28.00%
Taiwan 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
Tanzania 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Thailand 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 23.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Trinidad and Tobago 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Tunisia 35.00% 35.00% 35.00% 35.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 25.00% 25.00% 25.00% 25.00%
Turkey 30.00% 33.00% 30.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Turkmenistan 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 20.00%
Turks and Caicos Islands 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Uganda 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Ukraine 30.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 21.00% 19.00% 18.00% 18.00% 18.00% 18.00%
United Arab Emirates 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00% 55.00%
United Kingdom 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 28.00% 28.00% 26.00% 24.00% 23.00% 21.00% 20.00% 20.00% 19.00%
United States 34.00% 34.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 21.00%
Uruguay 35.00% 30.00% 30.00% 30.00% 30.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Uzbekistan 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.50% 7.50%
Vanuatu 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Venezuela 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00%
Vietnam 32.00% 28.00% 28.00% 28.00% 28.00% 28.00% 25.00% 25.00% 25.00% 25.00% 25.00% 22.00% 22.00% 22.00% 20.00%
Yemen 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Zambia 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Zimbabwe 30.90% 30.90% 30.90% 30.90% 30.90% 30.90% 30.90% 25.75% 25.75% 25.75% 25.75% 25.75% 25.75% 25.75% 25.00%
Africa average 32.54% 32.72% 30.89% 30.82% 30.56% 28.65% 28.75% 28.38% 28.55% 29.02% 28.29% 27.85% 27.97% 27.46% 28.21%
Americas average 31.29% 30.55% 30.52% 29.97% 29.27% 28.84% 28.82% 28.28% 29.28% 28.67% 28.35% 27.96% 26.96% 27.86% 25.66%
Asia average 30.19% 30.35% 29.79% 28.99% 28.46% 27.99% 25.73% 23.96% 23.10% 22.89% 22.05% 21.91% 21.78% 21.46% 21.28%
EU average 27.95% 26.69% 25.15% 24.83% 23.97% 23.17% 23.11% 22.93% 22.70% 22.51% 22.75% 22.39% 22.20% 22.09% 21.51%
Europe average 26.72% 25.60% 24.03% 23.70% 22.99% 21.95% 21.64% 21.46% 20.81% 20.42% 20.60% 20.42% 20.09% 20.48% 19.54%
Global average 29.42% 28.92% 27.95% 27.50% 26.95% 26.10% 25.38% 24.69% 24.50% 24.40% 24.09% 23.88% 23.52% 23.47% 24.25%
Latin America average 30.81% 30.02% 29.68% 29.07% 28.30% 27.96% 27.96% 27.52% 28.83% 28.30% 27.96% 27.52% 26.33% 27.29% 27.98%
North America average 35.30% 35.05% 38.05% 38.05% 38.05% 36.75% 36.50% 35.50% 34.00% 33.00% 33.00% 33.25% 33.25% 33.25% 23.75%
Oceania average 30.20% 30.60% 30.60% 30.60% 30.20% 29.60% 29.20% 29.00% 28.60% 28.60% 27.00% 27.00% 27.00% 26.00% 28.67%
OECD average 30.08% 29.28% 28.37% 27.67% 27.00% 25.99% 25.64% 25.70% 25.40% 25.15% 25.32% 24.98% 24.84% 24.81% 24.07%
South America average 30.81% 30.02% 29.68% 29.07% 28.30% 27.96% 27.96% 27.52% 28.83% 28.30% 27.96% 27.52% 26.33% 27.29% 27.98%


Updated in January 2018
By Aswath Damodaran