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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 17 January 2025) | 15 |
| Algeria (Last reviewed 09 March 2025) | 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 18 December 2024) | 25 |
| Argentina (Last reviewed 05 February 2025) | 35 |
| Armenia (Last reviewed 27 December 2024) | 18 |
| Australia (Last reviewed 16 December 2024) | 30% (25% for 'small-medium business' entities) |
| Austria (Last reviewed 20 January 2025) | 23 (until 2022 this rate was 25%, in 2023 it was 24%) |
| Azerbaijan (Last reviewed 06 May 2025) | 20 |
| Bahrain (Last reviewed 14 February 2025) | 46 for oil corp.'s; 0 for other corp.'s; Note that 15% DMTT may apply. |
| Bangladesh (Last reviewed 03 January 2025) | 22.5% or 25% for publicly traded companies (with exceptions); 27.5% for non-publicly traded companies (with exceptions); Please refer to the Taxes on corporate income section for effective tax rates for different classes of companies. |
| Barbados (Last reviewed 17 February 2025) | 9 |
| Belgium (Last reviewed 26 March 2025) | 25 |
| Bermuda (Last reviewed 31 January 2025) | 15% (if subject to Bermuda CIT) or 0% |
| Bolivia (Last reviewed 20 January 2025) | 25 (except for mining, financial institutions, and insurance/reinsurance companies, which have an additional income tax rate). |
| Bosnia and Herzegovina (Last reviewed 06 February 2025) | 10 |
| Botswana (Last reviewed 17 April 2025) | 22 |
| Brazil (Last reviewed 02 May 2025) | 34 (composed of IRPJ at the rate of 25% and CSLL at the rate of 9%). |
| Bulgaria (Last reviewed 04 March 2025) | 10 |
| Cabo Verde (Last reviewed 16 February 2025) | 21.42 (i.e. 21% + 2% surcharge) |
| Cambodia (Last reviewed 19 March 2025) | 20 |
| Cameroon, Republic of (Last reviewed 04 March 2025) | 33 |
| Canada (Last reviewed 10 December 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 29 November 2024) | NA |
| Chad (Last reviewed 12 August 2024) | 35 |
| Chile (Last reviewed 06 January 2025) | 25 or 27 |
| China, People's Republic of (Last reviewed 03 January 2025) | 25 |
| Colombia (Last reviewed 06 February 2025) | 35 |
| Congo, Democratic Republic of the (Last reviewed 15 October 2024) | 30 |
| Congo, Republic of (Last reviewed 22 January 2025) | 28 |
| Costa Rica (Last reviewed 15 January 2025) | 30 |
| Croatia (Last reviewed 07 January 2025) | 18 (10% for companies realising less than EUR 1 million in revenues) |
| Cyprus (Last reviewed 17 December 2024) | 12.5 |
| Czech Republic (Last reviewed 21 January 2025) | 21 for tax periods starting in 2024 (19 before then) |
| Denmark (Last reviewed 04 February 2025) | 22 |
| Dominican Republic (Last reviewed 29 November 2024) | 27 |
| Ecuador (Last reviewed 13 March 2025) | 22%, 25%, or 28%, depending on the company's shareholders structure (corporate structure) and disclosure compliance. |
| Egypt (Last reviewed 06 February 2025) | 22.5 |
| El Salvador (Last reviewed 06 February 2025) | 30 |
| Equatorial Guinea (Last reviewed 07 May 2024) | 25 |
| Estonia (Last reviewed 19 July 2024) | 20 (undistributed profits are tax exempt) |
| Eswatini (Last reviewed 11 April 2025) | 27.5 (25% for year-ends after 31 December 2024) |
| Ethiopia (Last reviewed 12 February 2025) | 30 |
| Finland (Last reviewed 24 January 2025) | 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 31 December 2024) | 15 (20 for banks, credit unions, microfinance organisations, and loan providers). |
| Germany (Last reviewed 28 December 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 December 2024) | 25 |
| Gibraltar (Last reviewed 03 March 2025) | 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 04 March 2025) | 22 |
| Greenland (Last reviewed 02 December 2024) | 26.5 (i.e. 25% + 6% surcharge) |
| Guatemala (Last reviewed 16 January 2025) | System on earnings: 25% on net income; Simplified optional system: 7% on gross income |
| Guernsey, Channel Islands (Last reviewed 27 January 2025) | 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 20 January 2025) | 25, plus a surcharge of 5% on net taxable income over HNL 1 million. |
| Hong Kong SAR (Last reviewed 03 January 2025) | Corporations: 16.5; Unincorporated businesses: 15 |
| Hungary (Last reviewed 04 February 2025) | 9 |
| Iceland (Last reviewed 06 March 2025) | 21 |
| India (Last reviewed 06 May 2025) | 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): 35% (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 23 December 2024) | 22 |
| Iraq (Last reviewed 19 January 2025) | 15 (35 for certain companies in the oil and gas sector) |
| Ireland (Last reviewed 10 February 2025) | Trading corp.: 12.5 Non-trading corp.: 25 |
| Isle of Man (Last reviewed 12 February 2025) | Corporate: 0; Banks: 10; Income from real estate: 20; Certain banking business and large retailers: 15 |
| Israel (Last reviewed 17 March 2025) | 23 |
| Italy (Last reviewed 10 February 2025) | 24 |
| Ivory Coast (Côte d'Ivoire) (Last reviewed 20 November 2024) | 25 |
| Jamaica (Last reviewed 03 March 2025) | Regulated company: 33â…“; Building society: 30; Life assurance company: 25; Unregulated company: 25 |
| Japan (Last reviewed 24 January 2025) | 23.2 |
| Jersey, Channel Islands (Last reviewed 08 January 2025) | 0, with certain financial services companies paying 10, and utility companies, large corporate retailers, and cannabis businesses paying 20. Rent: 20 |
| Jordan (Last reviewed 11 February 2025) | Banks: 35%; Telecommunications companies, insurance companies, financial intermediaries, mining companies, and electricity generation and distribution companies: 24%; All other activities: 20%. Note that a national contribution tax also applies to taxable income, with rates varying based on the sector. |
| Kazakhstan (Last reviewed 02 December 2024) | 20 |
| Kenya (Last reviewed 18 February 2025) | Resident corp.: 30; Foreign corp.: 30 |
| Korea, Republic of (Last reviewed 23 December 2024) | 24 |
| Kosovo (Last reviewed 22 January 2025) | 10 |
| Kuwait (Last reviewed 23 January 2025) | A flat rate of 15% |
| Lao PDR (Last reviewed 07 February 2025) | 20 |
| Latvia (Last reviewed 16 January 2025) | 20 (payable only when profits are distributed). |
| Lebanon (Last reviewed 09 January 2025) | 17 |
| Libya (Last reviewed 01 December 2024) | 24 (i.e. 20% + 4% Jehad Tax) |
| Liechtenstein (Last reviewed 28 March 2025) | 12.5 |
| Lithuania (Last reviewed 05 March 2025) | 16 from 1 January 2025 (previously 15%) |
| Luxembourg (Last reviewed 21 January 2025) | 23.87% on a combined basis (CIT, solidarity surtax, and municipal business tax [Luxembourg City]) as of fiscal year 2025 (previously 24.94%) |
| Macau SAR (Last reviewed 18 December 2024) | 12 |
| Madagascar (Last reviewed 26 March 2025) | 20 |
| Malaysia (Last reviewed 13 December 2024) | 24 |
| Malta (Last reviewed 24 January 2025) | 35 |
| Mauritania (Last reviewed 18 July 2024) | 25 |
| Mauritius (Last reviewed 16 December 2024) | 15 (3% for companies exporting goods) |
| Mexico (Last reviewed 09 April 2025) | 30 |
| Moldova (Last reviewed 20 January 2025) | 12 |
| Mongolia (Last reviewed 06 January 2025) | 25 |
| Montenegro (Last reviewed 25 March 2025) | 15 |
| Morocco (Last reviewed 13 March 2025) | 34 |
| Mozambique (Last reviewed 09 January 2025) | 32 (reduced rate of 10% is applicable to agricultural, livestock, aquaculture, and urban transportation activities). |
| Myanmar (Last reviewed 10 February 2025) | 22 |
| Namibia, Republic of (Last reviewed 17 December 2024) | 31 (30% rate effective for companies whose financial years will commence on or after 1 January 2025) |
| Netherlands (Last reviewed 16 January 2025) | 25.8 |
| New Caledonia (Last reviewed 24 February 2025) | 30 |
| New Zealand (Last reviewed 20 December 2024) | 28 |
| Nicaragua (Last reviewed 19 December 2024) | 30 |
| Nigeria (Last reviewed 14 April 2025) | 30% for large companies; 20% for medium companies; 0% for small companies |
| North Macedonia (Last reviewed 18 February 2025) | 10 |
| Norway (Last reviewed 14 January 2025) | 22 (25% for certain companies within the financial sector). |
| Oman (Last reviewed 01 January 2025) | 15 |
| Pakistan (Last reviewed 18 December 2024) | 29 |
| Palestinian territories (Last reviewed 22 January 2025) | 15 (20% for telecommunication companies and other companies that operate under a franchise or a monopoly in the Palestinian market) |
| Panama (Last reviewed 07 February 2025) | 25 |
| Papua New Guinea (Last reviewed 09 April 2025) | Resident: 30; Non-resident: 48 |
| Paraguay (Last reviewed 11 April 2025) | 10 |
| Peru (Last reviewed 10 February 2025) | 29.5 |
| Philippines (Last reviewed 25 February 2025) | 25 |
| Poland (Last reviewed 27 February 2025) | 19 |
| Portugal (Last reviewed 16 February 2025) | 20 |
| Puerto Rico (Last reviewed 03 March 2025) | 37.5 (i.e. 18.5% + 19% surtax on income over USD 275,000). |
| Qatar (Last reviewed 06 March 2025) | 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 21 March 2025) | 28 |
| Saint Lucia (Last reviewed 17 February 2025) | 30 |
| Saudi Arabia (Last reviewed 19 March 2025) | 20 |
| Senegal (Last reviewed 19 July 2024) | 30 |
| Serbia (Last reviewed 04 March 2025) | 15 |
| Singapore (Last reviewed 22 April 2025) | 17 |
| Slovak Republic (Last reviewed 06 February 2025) | 24 |
| Slovenia (Last reviewed 23 January 2025) | 22 |
| South Africa (Last reviewed 11 December 2024) | 27 |
| Spain (Last reviewed 31 December 2024) | 25 |
| Sweden (Last reviewed 10 February 2025) | 20.6 |
| Switzerland (Last reviewed 16 January 2025) | 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 20.5%, depending on the company’s location of corporate residence in Switzerland. |
| Taiwan (Last reviewed 06 March 2025) | 20 |
| Tanzania (Last reviewed 20 January 2025) | 30 |
| Thailand (Last reviewed 17 January 2025) | 20 |
| Timor-Leste (Last reviewed 25 March 2025) | 10 |
| Trinidad and Tobago (Last reviewed 31 January 2025) | 30 (35% for commercial banks and petrochemical companies) |
| Tunisia (Last reviewed 13 December 2024) | 15 |
| Turkey (Last reviewed 09 April 2025) | 25 (30% for financial sector companies) |
| Uganda (Last reviewed 10 February 2025) | 30 |
| Ukraine (Last reviewed 30 December 2024) | 18 - general tax rate; 25 - for the financial institutions (except insurance companies) for periods starting 1 January 2025; 50 - for the banks (for 2024) |
| United Arab Emirates (Last reviewed 21 February 2025) | 9 |
| United Kingdom (Last reviewed 15 December 2024) | 25 |
| United States (Last reviewed 28 February 2025) | 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 25 March 2025) | 25 |
| Uzbekistan, Republic of (Last reviewed 09 February 2025) | 15 |
| Venezuela (Last reviewed 23 December 2024) | 34 |
| Vietnam (Last reviewed 26 March 2025) | 20 |
| Zambia (Last reviewed 25 March 2025) | 30 |
- 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).