Quick Charts

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 24 December 2020) 15
Algeria (Last reviewed 01 February 2021) 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 05 January 2021) 25
Argentina (Last reviewed 28 January 2021) 30
Armenia (Last reviewed 24 January 2021) 18
Australia (Last reviewed 21 December 2020) 30% (26% for 'small business' entities)
Austria (Last reviewed 12 January 2021) 25
Azerbaijan (Last reviewed 10 February 2021) 20
Bahrain (Last reviewed 18 January 2021) 46 for oil corp.'s;
0 for other corp.'s
Barbados (Last reviewed 29 January 2021) 5.5% to 1%
Belarus (Last reviewed 06 February 2021) 18
Belgium (Last reviewed 03 February 2021) 25
Bermuda (Last reviewed 07 February 2021) NA
Bolivia (Last reviewed 28 January 2021) 25 (except for mining, financial institutions and insurance/reinsurance companies, which have an additional income tax rate).
Bosnia and Herzegovina (Last reviewed 25 February 2021) 10
Botswana (Last reviewed 12 February 2021) 22
Brazil (Last reviewed 22 February 2021) 34 (composed of IRPJ at the rate of 25% and CSLL at the rate of 9%).
Bulgaria (Last reviewed 04 January 2021) 10
Cabo Verde (Last reviewed 10 January 2021) 22.44 (i.e. 22% + 2% surcharge)
Cambodia (Last reviewed 28 January 2021) 20
Cameroon, Republic of (Last reviewed 11 February 2021) - 33 for entities with a turnover of more than XAF 3 billion;
- 30.8 for entities with a turnover less or equal to XAF 3 billion
Canada (Last reviewed 10 December 2020) Federal CIT: 15%. Provincial and territorial CITs range from 8% to 16% and are not deductible for federal CIT purposes.
Cayman Islands (Last reviewed 03 December 2020) NA
Chad (Last reviewed 11 February 2021) 35
Chile (Last reviewed 15 December 2020) 25 or 27
China, People's Republic of (Last reviewed 05 January 2021) 25
Colombia (Last reviewed 15 February 2021) The nominal rate for FY 2021 is 31%, this rate will decrease to 30% in 2022
Congo, Democratic Republic of the (Last reviewed 11 March 2021) 30
Congo, Republic of (Last reviewed 13 January 2021) 30
Costa Rica (Last reviewed 23 February 2021) 30
Croatia (Last reviewed 02 February 2021) 18 (10% for companies realising less than HRK 7.5 million in revenues)
Cyprus (Last reviewed 21 December 2020) 12.5
Czech Republic (Last reviewed 25 January 2021) 19
Denmark (Last reviewed 15 February 2021) 22
Dominican Republic (Last reviewed 04 February 2021) 27
Ecuador (Last reviewed 25 January 2021) 22% to 28%, depending on the company's shareholders structure (corporate structure) and disclosure compliance.
Egypt (Last reviewed 28 February 2021) 22.5
El Salvador (Last reviewed 14 January 2021) 25% or 30%
Equatorial Guinea (Last reviewed 20 February 2021) 35
Estonia (Last reviewed 26 January 2021) 20 (undistributed profits are tax exempt)
Eswatini (Last reviewed 25 February 2021) 27.5
Fiji (Last reviewed 23 December 2020) 20
Finland (Last reviewed 19 January 2021) 20
France (Last reviewed 09 March 2021) 28%, plus a social contribution of 3.3% assessed on the amount of CIT. For corporations having revenue in excess of EUR 250 million, 31% rate applicable to tax result in excess of EUR 500,000.
Gabon (Last reviewed 31 December 2020) 30 (35% for oil & gas and mining companies)
Georgia (Last reviewed 01 February 2021) 15
Germany (Last reviewed 13 February 2021) Corporate income tax/solidarity surcharge: 15.825%;
Trade tax: From 12.6% to 20.3%, depending upon the location of the business establishment.
Ghana (Last reviewed 05 February 2021) 25
Gibraltar (Last reviewed 22 December 2020) 10 (utility and energy providers and corp.'s abusing a dominant position pay a rate of 20%)
Greece (Last reviewed 21 December 2020) 24
Greenland (Last reviewed 09 December 2020) 26.5 (i.e. 25% + 6% surcharge)
Guatemala (Last reviewed 04 December 2020) System on earnings: 25% on net income;
Simplified optional system: 7% on gross income
Guernsey, Channel Islands (Last reviewed 11 March 2021) 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 22 February 2021) 25
Honduras (Last reviewed 04 February 2021) 25, plus a surcharge of 5% on net taxable income over HNL 1 million.
Hong Kong SAR (Last reviewed 31 December 2020) First HKD 2,000,000 of assessable profits at 8.25%;
Remaining assessable profits at 16.5%
Hungary (Last reviewed 01 January 2021) 9
Iceland (Last reviewed 16 February 2021) 20
India (Last reviewed 21 December 2020) Domestic corp.: 25%* if turnover/gross receipts do not exceed INR 4 billion for FY 2017/18; otherwise, 30% (surcharge ranging from 7% to 12% of tax applicable);
Foreign corp.: 40% (surcharge ranging from 2% to 5% of tax applicable);
Additionally, health and education cess at 4% of tax and surcharge.
*Lower tax rate of 22%/15% is also applicable, subject to certain conditions.
Indonesia (Last reviewed 29 December 2020) Fiscal year 2020-2021: 22
Fiscal year 2022 onwards: 20
Iraq (Last reviewed 03 December 2020) 15 (35 for certain companies in the oil and gas sector)
Ireland (Last reviewed 11 March 2021) Trading corp.: 12.5
Non-trading corp.: 25
Isle of Man (Last reviewed 09 February 2021) Corporate: 0;
Banks: 10;
Income from real estate: 20
Israel (Last reviewed 06 February 2021) 23
Italy (Last reviewed 08 February 2021) 24
Ivory Coast (Côte d'Ivoire) (Last reviewed 09 February 2021) 25
Jamaica (Last reviewed 20 March 2021) Regulated company: 33⅓%;
Building society: 30%;
Life assurance company: 25%
Unregulated company: 25%
Japan (Last reviewed 29 January 2021) 23.2
Jersey, Channel Islands (Last reviewed 01 March 2021) 0, with certain financial services companies paying 10, and utility companies and large corporate retailers paying 20.
Rent: 20
Jordan (Last reviewed 28 December 2020) Banks: 35;
Telecommunication, insurance corp.'s, financial intermediary: 24;
Other corp.'s: 20
Kazakhstan (Last reviewed 26 January 2021) 20
Kenya (Last reviewed 09 February 2021) Resident corp.: 30; Applicable from 1 January 2021
Foreign corp.: 37.5
Korea, Republic of (Last reviewed 08 December 2020) 25
Kosovo (Last reviewed 28 January 2021) 10
Kuwait (Last reviewed 28 December 2020) A flat rate of 15%
Kyrgyzstan (Last reviewed 24 December 2020) 10
Lao PDR (Last reviewed 15 January 2021) 20 (previously 24)
Latvia (Last reviewed 07 January 2021) 20 (payable only when profits are distributed).
Lebanon (Last reviewed 01 February 2021) 17
Libya (Last reviewed 03 December 2020) 24 (i.e. 20% + 4% Jehad Tax)
Liechtenstein (Last reviewed 15 January 2021) 12.5
Lithuania (Last reviewed 24 January 2021) 15
Luxembourg (Last reviewed 05 February 2021) 24.94% on a combined basis (CIT, solidarity surtax, and municipal business tax [Luxembourg City])
Macau SAR (Last reviewed 04 January 2021) 12
Madagascar (Last reviewed 10 February 2021) 20
Malawi (Last reviewed 10 February 2021) 30
Malaysia (Last reviewed 16 December 2020) 24
Maldives, Republic of (Last reviewed 26 January 2021) 15
Malta (Last reviewed 15 February 2021) 35
Mauritania (Last reviewed 25 January 2021) 25
Mauritius (Last reviewed 10 February 2021) 15 (3% for companies exporting goods)
Mexico (Last reviewed 04 February 2021) 30
Moldova (Last reviewed 19 January 2021) 12
Mongolia (Last reviewed 26 January 2021) 25
Montenegro (Last reviewed 25 February 2021) 9
Morocco (Last reviewed 30 March 2021) 31
Mozambique (Last reviewed 08 February 2021) 32
Myanmar (Last reviewed 08 February 2021) 25
Namibia, Republic of (Last reviewed 14 January 2021) 32
Netherlands (Last reviewed 25 December 2020) 25
New Zealand (Last reviewed 14 December 2020) 28
Nicaragua (Last reviewed 14 January 2021) 30
Nigeria (Last reviewed 28 January 2021) 30% for large companies;
20% for medium companies;
0% for small companies
North Macedonia (Last reviewed 20 January 2021) 10
Norway (Last reviewed 06 February 2021) 22% (25% for certain companies within the financial sector).
Oman (Last reviewed 08 December 2020) 15
Pakistan (Last reviewed 01 January 2021) 29
Palestinian territories (Last reviewed 22 December 2020) 15 (20% for telecommunication companies and other companies that operate under a franchise or a monopoly in the Palestinian market)
Panama (Last reviewed 13 January 2021) 25
Papua New Guinea (Last reviewed 04 January 2021) Resident: 30;
Non-resident: 48
Paraguay (Last reviewed 31 August 2020) 10
Peru (Last reviewed 26 January 2021) 29.5
Philippines (Last reviewed 29 December 2020) 30
Poland (Last reviewed 09 February 2021) 19 (9% for companies with revenues of up to EUR 2,000,000)
Portugal (Last reviewed 20 January 2021) 21
Puerto Rico (Last reviewed 02 March 2021) 37.5 (i.e. 18.5% + 19% surtax on income over USD 275,000).
Qatar (Last reviewed 25 February 2021) 10% (except for petrochemical/petroleum companies/operations, for which a minimum rate of 35% applies).
Romania (Last reviewed 05 March 2021) 16
Russian Federation (Last reviewed 12 February 2021) 20
Rwanda (Last reviewed 02 March 2021) 30
Saint Lucia (Last reviewed 29 January 2021) 30
Saudi Arabia (Last reviewed 31 December 2020) 20
Senegal (Last reviewed 15 January 2021) 30
Serbia (Last reviewed 25 February 2021) 15
Singapore (Last reviewed 04 February 2021) 17
Slovak Republic (Last reviewed 11 March 2021) 21
Slovenia (Last reviewed 26 January 2021) 19
South Africa (Last reviewed 10 December 2020) 28
Spain (Last reviewed 04 February 2021) 25
Sri Lanka (Last reviewed 18 January 2021) 24
Sweden (Last reviewed 20 January 2021) 20.6
Switzerland (Last reviewed 06 January 2021) 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 21.6%, depending on the company’s location of corporate residence in Switzerland.
Taiwan (Last reviewed 27 January 2021) 20
Tajikistan (Last reviewed 19 January 2021) 23 (13 for entities producing goods)
Tanzania (Last reviewed 18 January 2021) 30
Thailand (Last reviewed 17 January 2021) 20
Timor-Leste (Last reviewed 08 February 2021) 10
Trinidad and Tobago (Last reviewed 22 February 2021) 30 (35% for commercial banks)
Tunisia (Last reviewed 11 March 2021) 15% applicable for profits realized as from January 1st, 2021 (The rate of 25% applicable up to 2020 was decreased to 15% by the finance law 2021.
Turkey (Last reviewed 16 October 2020) 22
Turkmenistan (Last reviewed 18 January 2021) Domestic corp.: 8;
Foreign corp.: 20
Uganda (Last reviewed 28 January 2021) 30
Ukraine (Last reviewed 30 December 2020) 18
United Arab Emirates (Last reviewed 09 February 2021) Up to 55% for upstream oil and gas activities, 20% for branches of foreign banks, and in practice 0% for most other companies and branches.
United Kingdom (Last reviewed 12 January 2021) 19
United States (Last reviewed 06 February 2021) 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 05 January 2021) 25
Uzbekistan, Republic of (Last reviewed 22 January 2021) 15
Venezuela (Last reviewed 09 February 2021) 34
Vietnam (Last reviewed 25 January 2021) 20
Zambia (Last reviewed 11 February 2021) 35
Zimbabwe (Last reviewed 01 March 2021) 24.72
  • 15
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  • 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).

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.