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Corporate income tax (CIT) rates
Headline rates for WWTS territories
The headline CIT rate is generally the highest statutory CIT rate, inclusive of surtaxes but exclusive of local taxes.
This table provides an overview only. See the territory summaries for more detailed information.
| Territory | Headline CIT rate (%) |
|---|---|
| Albania (Last reviewed 05 July 2024) | 15 |
| Algeria (Last reviewed 31 May 2024) | 19% for manufacturing activities; 23% for building activities, public works, and hydraulics, as well as tourist and thermal activities, excluding travel agencies; 26% for all other activities. |
| Angola (Last reviewed 25 June 2024) | 25 |
| Argentina (Last reviewed 13 May 2024) | 35 |
| Armenia (Last reviewed 17 July 2024) | 18 |
| Australia (Last reviewed 27 June 2024) | 30% (25% for 'small-medium business' entities) |
| Austria (Last reviewed 04 July 2024) | 23 (until 2022 this rate was 25%, in 2023 it was 24%) |
| Azerbaijan (Last reviewed 17 September 2024) | 20 |
| Bahrain (Last reviewed 20 March 2024) | 46 for oil corp.'s; 0 for other corp.'s |
| Barbados (Last reviewed 28 August 2024) | 9 |
| Belgium (Last reviewed 28 August 2024) | 25 |
| Bermuda (Last reviewed 01 April 2024) | NA |
| Bolivia (Last reviewed 17 September 2024) | 25 (except for mining, financial institutions, and insurance/reinsurance companies, which have an additional income tax rate). |
| Bosnia and Herzegovina (Last reviewed 23 August 2024) | 10 |
| Botswana (Last reviewed 19 April 2024) | 22 |
| Brazil (Last reviewed 29 October 2024) | 34 (composed of IRPJ at the rate of 25% and CSLL at the rate of 9%). |
| Bulgaria (Last reviewed 11 June 2024) | 10 |
| Cabo Verde (Last reviewed 13 August 2024) | 21.42 (i.e. 21% + 2% surcharge) |
| Cambodia (Last reviewed 19 September 2024) | 20 |
| Cameroon, Republic of (Last reviewed 12 August 2024) | 33 |
| Canada (Last reviewed 21 June 2024) | Federal CIT: 15%. Provincial and territorial CITs range from 8% to 16% and are not deductible for federal CIT purposes. |
| Cayman Islands (Last reviewed 17 July 2024) | NA |
| Chad (Last reviewed 12 August 2024) | 35 |
| Chile (Last reviewed 17 July 2024) | 25 or 27 |
| China, People's Republic of (Last reviewed 28 June 2024) | 25 |
| Colombia (Last reviewed 22 July 2024) | 35 |
| Congo, Democratic Republic of the (Last reviewed 15 October 2024) | 30 |
| Congo, Republic of (Last reviewed 27 July 2024) | 28 |
| Costa Rica (Last reviewed 04 September 2024) | 30 |
| Croatia (Last reviewed 28 June 2024) | 18 (10% for companies realising less than EUR 1 million in revenues) |
| Cyprus (Last reviewed 21 June 2024) | 12.5 |
| Czech Republic (Last reviewed 01 July 2024) | 21 for tax periods starting in 2024 (19 before then) |
| Denmark (Last reviewed 17 September 2024) | 22 |
| Dominican Republic (Last reviewed 17 July 2024) | 27 |
| Ecuador (Last reviewed 06 September 2024) | 22%, 25%, or 28%, depending on the company's shareholders structure (corporate structure) and disclosure compliance. |
| Egypt (Last reviewed 31 July 2024) | 22.5 |
| El Salvador (Last reviewed 20 September 2024) | 30 |
| Equatorial Guinea (Last reviewed 07 May 2024) | 35 |
| Estonia (Last reviewed 19 July 2024) | 20 (undistributed profits are tax exempt) |
| Eswatini (Last reviewed 15 August 2024) | 27.5%. 25% for year-ends after 31 December 2024. |
| Ethiopia (Last reviewed 14 August 2024) | 30 |
| Fiji (Last reviewed 04 June 2024) | 20% / 25% (effective from the 2023 tax year) |
| Finland (Last reviewed 17 July 2024) | 20 |
| France (Last reviewed 18 March 2024) | 25 |
| Gabon (Last reviewed 04 March 2024) | 30 (35% for oil & gas and mining companies) |
| Georgia (Last reviewed 20 June 2024) | 15 (20 for banks, credit unions, microfinance organisations, and loan providers). |
| Germany (Last reviewed 27 June 2024) | Corporate income tax/solidarity surcharge: 15.825%; Trade tax: From 8.75% to 20.3%, depending upon the location of the business establishment. |
| Ghana (Last reviewed 03 June 2024) | 25 |
| Gibraltar (Last reviewed 25 September 2024) | 15% from 1 July 2024 (12.5% up to 30 June 2024). Utility and energy providers and corp.'s abusing a dominant position pay a rate of 20%. |
| Greece (Last reviewed 05 September 2024) | 22 |
| Greenland (Last reviewed 31 May 2024) | 26.5 (i.e. 25% + 6% surcharge) |
| Guatemala (Last reviewed 17 July 2024) | System on earnings: 25% on net income; Simplified optional system: 7% on gross income |
| Guernsey, Channel Islands (Last reviewed 28 June 2024) | Corporate: 0; Banking, custody services, insurance, certain fund administration businesses, regulated investment management services to individual clients, operating an investment exchange, compliance and other related activities provided to regulated financial services businesses, and operating an aircraft registry: 10; Income from property, importation of hydrocarbon oil and gas, retail businesses where taxable profits are above GBP 500,000, income from the licensed activity of cultivation of cannabis plants, and income from the use of those cultivated cannabis plants or parts of those cultivated cannabis plants: 20. |
| Guyana (Last reviewed 14 October 2024) | 25 |
| Honduras (Last reviewed 18 July 2024) | 25, plus a surcharge of 5% on net taxable income over HNL 1 million. |
| Hong Kong SAR (Last reviewed 28 June 2024) | Corporations: 16.5; Unincorporated businesses: 15 |
| Hungary (Last reviewed 15 July 2024) | 9 |
| Iceland (Last reviewed 05 September 2024) | 21 |
| India (Last reviewed 15 May 2024) | Domestic companies: 1. 25% or 30% (plus applicable surcharge and cess) depending on turnover. 2. 15% or 22% (plus applicable surcharge and cess) subject to certain conditions. Foreign companies (having PE in India): 40% (plus applicable surcharge and cess) Please refer to the Taxes on corporate income section for effective tax rates for different classes of companies. |
| Indonesia (Last reviewed 27 June 2024) | 22 |
| Iraq (Last reviewed 18 July 2024) | 15 (35 for certain companies in the oil and gas sector) |
| Ireland (Last reviewed 17 July 2024) | Trading corp.: 12.5 Non-trading corp.: 25 |
| Isle of Man (Last reviewed 30 July 2024) | Corporate: 0; Banks: 10; Income from real estate: 20; Certain banking business and large retailers: 15 |
| Israel (Last reviewed 17 September 2024) | 23 |
| Italy (Last reviewed 12 July 2024) | 24 |
| Ivory Coast (Côte d'Ivoire) (Last reviewed 20 November 2024) | 25 |
| Jamaica (Last reviewed 02 August 2024) | Regulated company: 33â…“; Building society: 30; Life assurance company: 25; Unregulated company: 25 |
| Japan (Last reviewed 09 July 2024) | 23.2 |
| Jersey, Channel Islands (Last reviewed 22 July 2024) | 0, with certain financial services companies paying 10, and utility companies, large corporate retailers, and cannabis businesses paying 20. Rent: 20 |
| Jordan (Last reviewed 03 June 2024) | Banks: 35; Telecommunication, insurance corp.'s, financial intermediary: 24; Other corp.'s: 20 |
| Kazakhstan (Last reviewed 31 May 2024) | 20 |
| Kenya (Last reviewed 11 July 2024) | Resident corp.: 30; Foreign corp.: 30 |
| Korea, Republic of (Last reviewed 13 June 2024) | 24 |
| Kosovo (Last reviewed 22 January 2024) | 10 |
| Kuwait (Last reviewed 14 August 2024) | A flat rate of 15% |
| Kyrgyzstan (Last reviewed 25 July 2024) | 10 |
| Lao PDR (Last reviewed 20 August 2024) | 20 |
| Latvia (Last reviewed 01 July 2024) | 20 (payable only when profits are distributed). |
| Lebanon (Last reviewed 19 July 2024) | 17 |
| Libya (Last reviewed 02 June 2024) | 24 (i.e. 20% + 4% Jehad Tax) |
| Liechtenstein (Last reviewed 09 June 2024) | 12.5 |
| Lithuania (Last reviewed 08 August 2024) | 15 (16 from 1 January 2025) |
| Luxembourg (Last reviewed 22 August 2024) | 24.94% on a combined basis (CIT, solidarity surtax, and municipal business tax [Luxembourg City]) |
| Macau SAR (Last reviewed 06 June 2024) | 12 |
| Madagascar (Last reviewed 17 September 2024) | 20 |
| Malawi (Last reviewed 17 September 2024) | 30 |
| Malaysia (Last reviewed 26 June 2024) | 24 |
| Malta (Last reviewed 24 September 2024) | 35 |
| Mauritania (Last reviewed 18 July 2024) | 25 |
| Mauritius (Last reviewed 14 October 2024) | 15 (3% for companies exporting goods) |
| Mexico (Last reviewed 26 July 2024) | 30 |
| Moldova (Last reviewed 09 July 2024) | 12 |
| Mongolia (Last reviewed 24 July 2024) | 25 |
| Montenegro (Last reviewed 12 June 2024) | 15 |
| Morocco (Last reviewed 26 July 2024) | 33 |
| Mozambique (Last reviewed 13 August 2024) | 32 (reduced rate of 10% is applicable to agricultural, livestock, aquaculture, and urban transportation activities). |
| Myanmar (Last reviewed 19 July 2024) | 22 |
| Namibia, Republic of (Last reviewed 28 June 2024) | 32 |
| Netherlands (Last reviewed 01 July 2024) | 25.8 |
| New Caledonia (Last reviewed 16 April 2024) | 30 |
| New Zealand (Last reviewed 23 July 2024) | 28 |
| Nicaragua (Last reviewed 18 July 2024) | 30 |
| Nigeria (Last reviewed 16 September 2024) | 30% for large companies; 20% for medium companies; 0% for small companies |
| North Macedonia (Last reviewed 19 July 2024) | 10 |
| Norway (Last reviewed 01 July 2024) | 22 (25% for certain companies within the financial sector). |
| Oman (Last reviewed 11 July 2024) | 15 |
| Pakistan (Last reviewed 01 August 2024) | 29 |
| Palestinian territories (Last reviewed 23 July 2024) | 15 (20% for telecommunication companies and other companies that operate under a franchise or a monopoly in the Palestinian market) |
| Panama (Last reviewed 26 July 2024) | 25 |
| Papua New Guinea (Last reviewed 13 August 2024) | Resident: 30; Non-resident: 48 |
| Paraguay (Last reviewed 31 May 2024) | 10 |
| Peru (Last reviewed 24 July 2024) | 29.5 |
| Philippines (Last reviewed 01 August 2024) | 25 |
| Poland (Last reviewed 22 July 2024) | 19 |
| Portugal (Last reviewed 21 July 2024) | 21 |
| Puerto Rico (Last reviewed 10 November 2023) | 37.5 (i.e. 18.5% + 19% surtax on income over USD 275,000). |
| Qatar (Last reviewed 03 April 2024) | 10% (except for petrochemical/petroleum companies/operations, for which a minimum rate of 35% applies). |
| Romania (Last reviewed 25 April 2024) | 16 |
| Rwanda (Last reviewed 20 July 2024) | 28 |
| Saint Lucia (Last reviewed 28 August 2024) | 30 |
| Saudi Arabia (Last reviewed 21 July 2024) | 20 |
| Senegal (Last reviewed 19 July 2024) | 30 |
| Serbia (Last reviewed 12 June 2024) | 15 |
| Singapore (Last reviewed 30 May 2024) | 17 |
| Slovak Republic (Last reviewed 16 October 2024) | 21 |
| Slovenia (Last reviewed 12 July 2024) | 22 |
| South Africa (Last reviewed 18 June 2024) | 27 |
| Spain (Last reviewed 30 June 2024) | 25 |
| Sweden (Last reviewed 06 September 2024) | 20.6 |
| Switzerland (Last reviewed 28 June 2024) | Federal CIT: 8.5% on profit after tax (7.83% on profit before tax). Cantonal and communal CITs are added to federal CIT, resulting in an overall effective tax rate between 11.9% and 21.0%, depending on the company’s location of corporate residence in Switzerland. |
| Taiwan (Last reviewed 19 August 2024) | 20 |
| Tajikistan (Last reviewed 12 June 2024) | 18 (13 for entities producing goods and 20 for the activities of financial institutions and mobile companies) |
| Tanzania (Last reviewed 26 September 2024) | 30 |
| Thailand (Last reviewed 16 October 2024) | 20 |
| Timor-Leste (Last reviewed 23 July 2024) | 10 |
| Trinidad and Tobago (Last reviewed 17 September 2024) | 30 (35% for commercial banks and petrochemical companies) |
| Tunisia (Last reviewed 23 July 2024) | 15 |
| Turkey (Last reviewed 02 May 2024) | 25 (30% for financial sector companies) |
| Turkmenistan (Last reviewed 02 July 2024) | Domestic corp.: 8; Foreign corp.: 20 |
| Uganda (Last reviewed 20 September 2024) | 30 |
| Ukraine (Last reviewed 28 June 2024) | 18 (50% for banks for 2023; 25% for banks from 2024) |
| United Arab Emirates (Last reviewed 24 July 2024) | 9 |
| United Kingdom (Last reviewed 08 July 2024) | 25 |
| United States (Last reviewed 13 August 2024) | Federal CIT: 21%. State CITs range from 1% to 12% (although some states impose no CIT) and are deductible expenses for federal CIT purposes. |
| Uruguay (Last reviewed 02 September 2024) | 25 |
| Uzbekistan, Republic of (Last reviewed 08 August 2024) | 15 |
| Venezuela (Last reviewed 29 June 2024) | 34 |
| Vietnam (Last reviewed 22 August 2024) | 20 |
| Zambia (Last reviewed 17 May 2024) | 30 |
| Zimbabwe (Last reviewed 20 November 2024) | 25.75 |
- 15
- 20
- 25
- 30
The heat map above shows each territory in a color corresponding to its highest statutory CIT rate (inclusive of surtaxes and exclusive of local taxes). The color key is based on CIT rate percentage. Clicking a region will then allow you to hover over and/or click a territory. Hovering over a territory will provide that territory's highest statutory CIT rate. Clicking a territory will take you to that territory's 'Taxes on corporate income' page.
Note that the rate applicable to a majority of industries is used for heat map purposes if rates are industry-specific. If rates are based on resident status, then the resident rate is used for heat map purposes. If a territory does not have a CIT, then a rate of 0% is used for heat map purposes. In instances where the highest statutory CIT rate cannot be easily defined, the territory color will be grey (but can still be viewed by hovering over it).