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 15
Algeria 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 30
Argentina 30
Armenia 20
Australia 30% (27.5% for 'small business' entities)
Austria 25
Azerbaijan 20
Bahrain 46 for oil corp.'s;
0 for other corp.'s
Barbados 5.5% to 1%
Belarus 18
Belgium 29.58 (i.e. 29% + 2% surcharge)
Bermuda NA
Bolivia 25 (except for mining and financial institutions, which have an additional income tax rate).
Bosnia and Herzegovina 10
Botswana 22
Brazil 34 (composed of IRPJ at the rate of 25% and CSLL at the rate of 9%).
Bulgaria 10
Cabo Verde 22.44 (i.e. 22% + 2% surcharge)
Cambodia 20
Cameroon, Republic of 33
Canada Federal CIT: 15%. Provincial and territorial CITs range from 11% to 16% and are not deductible for federal CIT purposes.
Cayman Islands NA
Chad 35
Chile 25 or 27
China, People's Republic of 25
Colombia The nominal rate for FY 2020 is 32%, this rate will decrease up to 30% in 2022 (31% in FY 2021).
A 10% is applicable to capital gain tax.
Congo, Democratic Republic of the 30
Congo, Republic of 30
Costa Rica 30
Croatia 18 (12% for companies realising less than HRK 7.5 million in revenues)
Cyprus 12.5
Czech Republic 19
Denmark 22
Dominican Republic 27
Ecuador 22% to 28%, depending on the company's shareholders structure (corporate structure) and disclosure compliance.
Egypt 22.5
El Salvador 30
Equatorial Guinea 35
Estonia 20 (undistributed profits are tax exempt)
Fiji 20
Finland 20
France 33.33, plus a social contribution of 3.3% assessed on the amount of CIT.
Gabon 30 (35% for oil & gas and mining companies)
Georgia 15
Germany Corporate income tax/solidarity surcharge: 15.825%;
Trade tax: From 12.6% to 20.3%, depending upon the location of the business establishment.
Ghana 25
Gibraltar 10% (utility and energy providers and corp.'s abusing a dominant position pay a rate of 20%)
Greece 24
Greenland 31.8 (i.e. 30% + 6% surcharge)
Guatemala System on earnings: 25% on net income;
Simplified optional system: 7% on gross income
Guernsey, Channel Islands Corporate: 0;
Banking, custody services, insurance, certain fund administration businesses, and regulated investment management services to individual clients: 10;
Income from property, importation of hydrocarbon oil and gas, and retail businesses where taxable profits are above GBP 500,000: 20
Guyana 25
Honduras 25, plus a surcharge of 5% on net taxable income over HNL 1 million.
Hong Kong SAR 8.25 / 16.5
Hungary 9
Iceland 20
India Domestic corp.: 25 if turnover/gross receipts do not exceed INR 2.5 billion; otherwise, 30 (surcharge of 7% of tax if income exceeds INR 10 million and 12% of tax if income exceeds INR 100 million);
Foreign corp.: 40 (surcharge of 2% of tax if income exceeds INR 10 million and 5% of tax if income exceeds INR 100 million);
Additionally, health and education cess at 4% of tax and surcharge.
Indonesia 25
Iraq 15 (35 for certain companies in the oil and gas sector)
Ireland Trading corp.: 12.5;
Non-trading corp.: 25
Isle of Man Corporate: 0;
Banks: 10;
Income from real estate: 20
Israel 23
Italy 24
Ivory Coast (Côte d'Ivoire) 25
Jamaica Regulated company: 33⅓;
Building society: 30;
Unregulated company: 25
Japan 23.2
Jersey, Channel Islands 0, with certain financial services companies paying 10, and utility companies and large corporate retailers paying 20.
Rent: 20
Jordan Banks: 35;
Telecommunication, insurance corp.'s, financial intermediary: 24;
Other corp.'s: 20
Kazakhstan 20
Kenya Resident corp.: 30;
Foreign corp.: 37.5
Korea, Republic of 22
Kosovo 10
Kuwait A flat rate of 15
Kyrgyzstan 10
Lao PDR 24
Latvia 20 (payable only when profits are distributed).
Lebanon 17
Libya 24 (i.e. 20% + 4% Jehad Tax)
Liechtenstein 12.5
Lithuania 15
Luxembourg 24.94% on a combined basis (CIT, solidarity surtax, and municipal business tax [Luxembourg City])
Macau SAR 12
Madagascar 20
Malawi 30
Malaysia 24
Malta 35
Mauritius 15 (3% for companies exporting goods)
Mexico 30
Moldova 12
Mongolia 25
Montenegro 9
Morocco 31
Mozambique 32
Myanmar 25
Namibia, Republic of 32
Netherlands 25
New Zealand 28
Nicaragua 30
Nigeria 30% for Large Companies
20% for Medium companies
0% for Small companies
North Macedonia 10
Norway 22% (25% for certain companies within the financial sector).
Oman 15
Pakistan 29
Palestinian territories 15 (20% for telecommunication companies and other companies that operate under a franchise or a monopoly in the Palestinian market)
Panama 25
Papua New Guinea Resident: 30;
Non-resident: 48
Paraguay 10
Peru 29.5
Philippines 30
Poland 19 (9% for companies with revenues of up to EUR 1,200,000)
Portugal 21
Puerto Rico 39 (i.e. 20% + 19% surtax on income over USD 275,000). For years commenced after 31 December 2018, the rate would be 37.5 (i.e. 18.5% + 19% surtax on income over USD 275,000).
Qatar 10% (except for petrochemical/petroleum companies/operations for which a minimum rate of 35% applies).
Romania 16
Russian Federation 20
Rwanda 30
Saint Lucia 30
Saudi Arabia 20
Senegal 30
Serbia 15
Singapore 17
Slovak Republic 21
Slovenia 19
South Africa 28
Spain 25
Sri Lanka 28
Swaziland 27.5
Sweden 21.4
Switzerland 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 11.5% and 24.2%, depending on the company’s location of corporate residence in Switzerland.
Taiwan 20
Tajikistan 23 (13% for entities producing goods)
Tanzania 30
Thailand 20
Timor-Leste 10
Trinidad and Tobago 30 (35% for commercial banks)
Tunisia 25
Turkey 22
Turkmenistan Domestic corp.: 8;
Foreign corp.: 20
Turks and Caicos Islands NA
Uganda 30
Ukraine 18
United Arab Emirates Up to 55% for upstream oil and gas activities, 20% for branches of foreign banks, and 0% for most others companies and branches.
United Kingdom 19
United States 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 25
Uzbekistan, Republic of 12
Venezuela 34
Vietnam 20
Zambia 35
Zimbabwe 25.75 (to be reduced to 24.72% effective 1 January 2020)

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.

 
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