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Countries with the lowest corporate tax rates

Governments unite on corporation tax
30th: Netherlands: 25.8%
Joint 29th. Belgium: 25%
Joint 29th. Spain: 25%
Joint 29th. Turkey: 25%
Joint 29th. United Kingdom: 25%
Joint 25th. Austria: 24%
Joint 25th. South Korea: 24%
Joint 25th. Italy: 24%
22nd. Japan: 23.2%
21st. Israel: 23%
Joint 20th. Greece: 22%
Joint 20th. Norway: 22%
Joint 20th. Denmark: 22%
Joint 18th. USA: 21%
Joint 18th. Slovakia: 21%
15th. Sweden: 20.6%
Joint 14th. Finland: 20%
Joint 14th. Estonia: 20%
Joint 14th. Iceland: 20%
Joint 14th. Latvia: 20%
Joint 10th. Czech Republic: 19%
Joint 10th. Poland: 19%
Joint 10th. Slovenia: 19%
Joint 7th. Luxembourg: 15%
Joint 7th. Germany: 15%
Joint 7th. Canada: 15%
Joint 7th. Lithuania: 15%
3rd. Ireland: 12.5%-15%
2nd. Hungary: 9%-15%
1st. Switzerland: 8.5%-15%
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STEFAN ROUSSEAU / Contributor / Getty Images

Governments unite on corporation tax

In 2021, governments from 136 countries pledged to create a minimum global corporation tax rate of at least 15% for rich multinational enterprises (MNEs) by 2023.

The historic agreement was led by the Organisation for Economic Co-operation and Development (OECD), which revealed that around $150 billion (£109bn) could be generated annually by the new rules, helping economies recover from COVID-19.

With that in mind, read on to find out how much corporate income tax (CIT) 30 major countries – including the G7 – currently charge businesses. All dollar amounts in US dollars. 

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Daniel Coughlin

03 August 2023

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