Corporate Marginal Tax Rates - By country

Source: KPMG

From: January 2022 Update

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

Country 2016 2017 2018 2019 2020 2021
Afghanistan 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Albania 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Algeria 26.00% 26.00% 26.00% 26.00% 26.00% 26.00%
Andorra NA 10.00% 10.00% 10.00% 10.00% 10.00%
Angola 30.00% 30.00% 30.00% 30.00% 30.00% 25.00%
Anguilla NA 0.00% 0.00% 0.00% 0.00% 0.00%
Antigua and Barbuda NA 25.00% 25.00% 25.00% 25.00% 25.00%
Argentina 35.00% 35.00% 30.00% 30.00% 30.00% 25.00%
Armenia 20.00% 20.00% 20.00% 20.00% 18.00% 18.00%
Aruba 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Australia 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Austria 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Azerbaijan NA 20.00% 20.00% 20.00% 20.00% 20.00%
Bahamas 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%
Bangladesh 25.00% 25.00% 25.00% 25.00% 25.00% 32.50%
Barbados 25.00% 25.00% 30.00% 5.50% 5.50% 5.50%
Belarus 18.00% 18.00% 18.00% 18.00% 18.00% 18.00%
Belgium 33.99% 33.99% 29.00% 29.00% 25.00% 25.00%
Benin NA 30.00% 30.00% 30.00% 30.00% 30.00%
Bermuda 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Bolivia 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Bonaire, Saint Eustatius and Saba 0.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Bosnia and Herzegovina 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Botswana 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%
Brunei Darussalam NA 18.50% 18.50% 18.50% 18.50% 18.50%
Bulgaria 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Burkina Faso NA 27.50% 28.00% 28.00% 28.00% 28.00%
Burundi NA 30.00% 30.00% 30.00% 30.00% 30.00%
Cambodia 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Cameroon 33.00% 33.00% 33.00% 33.00% 33.00% 33.00%
Canada 26.50% 26.50% 26.50% 26.50% 26.50% 26.50%
Cayman Islands 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Chile 24.00% 25.50% 26.00% 27.00% 27.00% 27.00%
China 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Colombia 25.00% 34.00% 33.00% 33.00% 32.00% 31.00%
Congo NA NA NA NA 30.00% 28.00%
Congo (Democratic Republic of the) NA 35.00% 35.00% 35.00% 35.00% 30.00%
Costa Rica 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Croatia 20.00% 18.00% 18.00% 18.00% 18.00% 18.00%
Curacao 22.00% 22.00% 22.00% 22.00% 22.00% 22.00%
Cyprus 12.50% 12.50% 12.50% 12.50% 12.50% 12.50%
Czech Republic 19.00% 19.00% 19.00% 19.00% 19.00% 19.00%
Denmark 22.00% 22.00% 22.00% 22.00% 22.00% 22.00%
Djibouti NA 25.00% 25.00% 25.00% 25.00% 25.00%
Dominica NA 25.00% 25.00% 25.00% 25.00% 25.00%
Dominican Republic 27.00% 27.00% 27.00% 27.00% 27.00% 27.00%
Ecuador 22.00% 22.00% 25.00% 25.00% 25.00% 25.00%
Egypt 22.50% 22.50% 23.00% 22.50% 22.50% 22.50%
El Salvador 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Estonia 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Ethiopia NA 30.00% 30.00% 30.00% 30.00% 30.00%
Fiji 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Finland 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
France 33.30% 33.33% 33.00% 31.00% 28.00% 26.50%
Gabon NA 30.00% 30.00% 30.00% 30.00% 30.00%
Gambia NA 31.00% 31.00% 31.00% 31.00% 27.00%
Georgia 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Germany 29.72% 29.79% 30.00% 30.00% 30.00% 30.00%
Ghana 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Gibraltar 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Greece 29.00% 29.00% 29.00% 28.00% 24.00% 24.00%
Grenada NA 30.00% 30.00% 28.00% 28.00% 28.00%
Guatemala 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Guernsey 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Honduras 30.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Hong Kong SAR 16.50% 16.50% 16.50% 16.50% 16.50% 16.50%
Hungary 19.00% 9.00% 9.00% 9.00% 9.00% 9.00%
Iceland 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
India 34.61% 34.61% 35.00% 30.00% 30.00% 30.00%
Indonesia 25.00% 25.00% 25.00% 25.00% 25.00% 22.00%
Iraq 15.00% 15.00% 15.00% 15.00% 15.00% 35.00%
Ireland 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%
Israel 25.00% 24.00% 23.00% 23.00% 23.00% 23.00%
Italy 31.40% 24.00% 24.00% 24.00% 24.00% 24.00%
Ivory Coast NA 25.00% 25.00% 25.00% 25.00% 25.00%
Jamaica 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Japan 30.86% 30.86% 30.86% 30.62% 30.62% 30.62%
Jersey 20.00% 20.00% 20.00% 0.00% 0.00% 0.00%
Jordan 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Kazakhstan 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Kenya 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Korea, Republic of 24.20% 22.00% 25.00% 25.00% 25.00% 25.00%
Kuwait 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Kyrgyzstan NA 10.00% 10.00% 10.00% 10.00% 10.00%
Latvia 15.00% 15.00% 20.00% 20.00% 20.00% 20.00%
Lebanon 15.00% 15.00% 15.00% 17.00% 17.00% 17.00%
Libya 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Liechtenstein 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%
Luxembourg 29.22% 27.08% 26.01% 24.94% 24.94% 24.94%
Macau 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%
Macedonia 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Madagascar NA 20.00% 20.00% 20.00% 20.00% 20.00%
Malawi 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Malaysia 24.00% 24.00% 24.00% 24.00% 24.00% 24.00%
Malta 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Mauritania NA NA NA NA NA 25.00%
Mauritius 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Mexico 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Moldova 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%
Monaco NA 33.33% 33.00% 33.00% 33.00% 33.00%
Mongolia NA 25.00% 25.00% 25.00% 25.00% 25.00%
Montenegro 9.00% 9.00% 9.00% 9.00% 9.00% 9.00%
Morocco 31.00% 31.00% 31.00% 31.00% 31.00% 31.00%
Mozambique 32.00% 32.00% 32.00% 32.00% 32.00% 32.00%
Myanmar NA 25.00% 25.00% 25.00% 25.00% 25.00%
Namibia 32.00% 32.00% 32.00% 32.00% 32.00% 32.00%
Netherlands 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
New Zealand 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%
Nicaragua NA 30.00% 30.00% 30.00% 30.00% 30.00%
Nigeria 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Norway 25.00% 24.00% 23.00% 22.00% 22.00% 22.00%
Oman 12.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Pakistan 32.00% 31.00% 30.00% 30.00% 35.00% 29.00%
Palestinian Territory NA 15.00% 15.00% 15.00% 15.00% 15.00%
Panama 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Papua New Guinea 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Paraguay 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Peru 28.00% 29.50% 29.50% 29.50% 29.50% 29.50%
Philippines 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Poland 19.00% 19.00% 19.00% 19.00% 19.00% 19.00%
Portugal 21.00% 21.00% 21.00% 21.00% 21.00% 21.00%
Qatar 0.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Romania 16.00% 16.00% 16.00% 16.00% 16.00% 16.00%
Russia 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Rwanda NA 30.00% 30.00% 30.00% 30.00% 30.00%
Saint Kitts and Nevis NA 33.00% 33.00% 33.00% 33.00% 33.00%
Saint Lucia NA 30.00% 30.00% 30.00% 30.00% 30.00%
Saint Vincent and the Grenadines NA 32.50% 33.00% 30.00% 30.00% 30.00%
Samoa 27.00% 27.00% 27.00% 27.00% 27.00% 27.00%
Saudi Arabia 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Senegal NA 30.00% 30.00% 30.00% 30.00% 30.00%
Serbia 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Sierra Leone 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Singapore 17.00% 17.00% 17.00% 17.00% 17.00% 17.00%
Sint Maarten (Dutch part) 34.50% 34.50% 35.00% 35.00% 35.00% 35.00%
Slovakia 22.00% 21.00% 21.00% 21.00% 21.00% 21.00%
Slovenia 17.00% 19.00% 19.00% 19.00% 19.00% 19.00%
Solomon Islands NA 30.00% 30.00% 30.00% 30.00% 30.00%
South Africa 28.00% 28.00% 28.00% 28.00% 28.00% 28.00%
Spain 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Sri Lanka 15.00% 28.00% 28.00% 28.00% 28.00% 24.00%
St Maarten 34.50% 34.50% 35.00% 35.00% 35.00% 35.00%
Sudan 35.00% 35.00% 35.00% 35.00% 35.00% 35.00%
Suriname 34.50% 36.00% 36.00% 36.00% 36.00% 36.00%
Swaziland NA 27.50% 28.00% 27.50% 27.50% 27.50%
Sweden 22.00% 22.00% 22.00% 21.40% 21.40% 20.60%
Switzerland 17.92% 17.77% 18.00% 18.00% 14.84% 14.93%
Syria 22.00% 28.00% 28.00% 28.00% 28.00% 28.00%
Taiwan 17.00% 17.00% 20.00% 20.00% 20.00% 20.00%
Tanzania 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Thailand 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Trinidad and Tobago 25.00% 25.00% 25.00% 25.00% 30.00% 30.00%
Tunisia 25.00% 25.00% 25.00% 25.00% 25.00% 15.00%
Turkey 20.00% 20.00% 22.00% 22.00% 22.00% 20.00%
Turkmenistan NA 20.00% 20.00% 20.00% 20.00% 20.00%
Turks and Caicos Islands NA 0.00% 0.00% 0.00% 0.00% 0.00%
Uganda 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Ukraine 18.00% 18.00% 18.00% 18.00% 18.00% 18.00%
United Arab Emirates 55.00% 55.00% 55.00% 55.00% 55.00% 55.00%
United Kingdom 20.00% 19.00% 19.00% 19.00% 19.00% 19.00%
United States 40.00% 40.00% 27.00% 27.00% 27.00% 27.00%
Uruguay 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Uzbekistan 7.50% 7.50% 7.50% 7.50% 7.50% 7.50%
Vanuatu 0.00% 34.00% 0.00% 0.00% 0.00% 0.00%
Venezuela 34.00% 34.00% 34.00% 34.00% 34.00% 34.00%
Vietnam 22.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Yemen 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%
Zimbabwe 25.75% 25.00% 25.00% 25.00% 24.00% 24.00%


Updated in January 2022
By Aswath Damodaran