corporate income tax rates - OECD by zhangyun

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									PART II. Taxation of Corporate and Capital Income (2011)

                                        1
Table II.1. Corporate income tax rate


                             Central              Adjusted central      Sub-central        Combined
                          government                government         government          corporate
                        corporate income         corporate income    corporate income        income
                                     2                        3                   4                  5
Country                     tax rate                 tax rate            tax rate           tax rate
          *
Australia                      30.0                    30.0                                    30.0
Austria                        25.0                    25.0                                    25.0
         *
Belgium                    33.99 (33.0)                34.0                                    34.0
Canada                         16.5                    16.5                11.1                27.6
Chile*                         20.0                    20.0                                    20.0
Czech Republic                 19.0                    19.0                                    19.0
Denmark                        25.0                    25.0                                    25.0
Estonia*                       21.0                    21.0                                    21.0
Finland                        26.0                    26.0                                    26.0
France*                        34.4                    34.4                                    34.4
Germany*                   15,825 (15,0)              15,825               14.4                30.2
Greece                         20.0                    20.0                                    20.0
Hungary*                       19.0                    19.0                                    19.0
Iceland                        20.0                    20.0                                    20.0
Ireland                        12.5                    12.5                                    12.5
       *
Israel                         24.0                    24.0                0.0                 24.0
Italy*                         27.5                    27.5                                    27.5
Japan                          30.0                    28.0                11.6                39.5
Korea                          22.0                    22.0                2.2                 24.2
Luxembourg*                22.05 (21.0)                22.1                6.8                 28.8
Mexico                         30.0                    30.0                                    30.0
Netherlands*                   25.0                    25.0                                    25.0
New Zealand*                   28.0                    28.0                                    28.0
Norway                         28.0                    28.0                                    28.0
Poland*                        19.0                    19.0                                    19.0
Portugal*                      25.0                    25.0                1.5                 26.5
Slovak Republic                19.0                    19.0                                    19.0
Slovenia                       20.0                    20.0                                    20.0
Spain                          30.0                    30.0                                    30.0
Sweden                         26.3                    26.3                                    26.3
            *
Switzerland                     8.5                    6.7                 14.5                21.2
Turkey                         20.0                    20.0                                    20.0
                *
United Kingdom                 26.0                    26.0                                    26.0
              *
United States                  35.0                    32.7                6.4                 39.2



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates. Where a
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be fou
the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is shown in round
brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)), adjuste
applicable) to show the net rate where the central government provides a deduction in respect of sub-central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate, inclusive of
sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-central surtax appli
the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the adjusted
central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special statutor
corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of qualifying inco
Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Belgium: the effective CIT rate can be substantially reduced by a notional allowance for corporate equity (ACE). E.g. the effective
tax rate is only half the nominal tax rate when the return on equity before tax is twice the notional interest rate (3.425% i
See explanatory notes for more details.
Chile: The Corporate Income Tax rate will be temporarily increased to 20% and 18.5% for profits earned in 2011 and 2012
respectively. It is one of the measures contained in Law 20.455, which was enacted to raise finance for the reconstruction of
country hit by an earthquake in February 2010.
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: The rates include a surcharge, but does not include the local business tax (Contribution économique territoriale, a new ta
replacing the former Taxe professionnelle from January 1st 2011) or the turnover based solidarity tax (Contribution de Solidarité
More information on the surcharge is included as a comment.
Germany: the rates include the regional trade tax (Gewerbesteuer) and the surcharge.
Hungary: the rates do not include the turnover based local business tax, the innovation tax, the financial institutions' surtaxes,
the energy suppliers' surtax and the crisis taxes.
Israel: within the VAT law, Financial Institutions pay taxes on the combination of their wages and salaries and their profits. These
amounts are deductible from profits in the assessment of corporate income tax. See the Explanatory Annex for a table showing
the historical tax rates.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See explanatory
notes for more details.
Luxembourg: the contribution to the unemployment fund increased by 1% up to 5% (up from 4% in 2010)
Netherlands: applies to taxable income over EUR 200,000
New Zealand: has a non-calendar tax year, the rates shown are those in effect as of 1 April.
Poland: there is no sub-cental government tax, however local authorities (of each level) participate in tax revenue at a given
percentage for each level of local authority.
Portugal: since 2009, two general tax rates are applied at a Central Government Level. A general tax rate of 12,5% will be applied
for the first € 12500 of taxable income and a 25% tax rate will be applied for the remaining amount of taxable income (when the
total taxable income exceeds € 12500)
Switzerland: church taxes, which cannot be avoided by enterprises, are included.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory notes for
more details.
                        Targeted
                        corporate
                                 6
                       tax rates

                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           N

                           N
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           Y
                           N
                           Y
                           N
                           Y
                           N

                           Y
                           N
                           N
                           N
                           Y
                           Y




ory) corporate income tax rates. Where a
n. Further explanatory notes may be found in

orporate income tax rate, measured gross of a
orporate income tax rate, measured gross of a
rate exclusive of surtax is shown in round

ate (inclusive of surtax (if any)), adjusted (if
                    central income tax.
tory corporate income tax rate, inclusive of
                      -central surtax applies,

 te income tax rate given by the adjusted

 with targeting through a special statutory
rmined as a percentage of qualifying income).




for corporate equity (ACE). E.g. the effective
e the notional interest rate (3.425% in 2011).

% for profits earned in 2011 and 2012
 to raise finance for the reconstruction of the


            économique territoriale, a new tax
sed solidarity tax (Contribution de Solidarité).


 ion tax, the financial institutions' surtaxes,

eir wages and salaries and their profits. These
 the Explanatory Annex for a table showing

ttività Produttive; IRAP). See explanatory

 (up from 4% in 2010)


vel) participate in tax revenue at a given

el. A general tax rate of 12,5% will be applied
aining amount of taxable income (when the



ncome tax rate. See explanatory notes for
PART II. Taxation of Corporate and Capital Income (2010)

                                        1
Table II.1. Corporate income tax rate


                             Central              Adjusted central      Sub-central         Combined
                          government                government         government           corporate
                        corporate income         corporate income    corporate income         income
                                     2                        3                   4                   5
Country                     tax rate                 tax rate            tax rate            tax rate
          *
Australia                      30.0                    30.0                                    30.00
Austria                        25.0                    25.0                                    25.00
         *
Belgium                    33.99 (33.0)               33.99                                    33.99
Canada                         18.0                    18.0                11.4                29.36
Chile*                         17.0                    17.0                                    17.00
Czech Republic                 19.0                    19.0                                    19.00
Denmark                        25.0                    25.0                                    25.00
Estonia*                       21.0                    21.0                                    21.00
Finland                        26.0                    26.0                                    26.00
France*                        34.43                  34.43                                    34.43
Germany*                   15,825 (15,0)              15,825              14.35                30.18
Greece                         24.0                    24.0                                    24.00
Hungary*                       19.0                    19.0                                    19.00
Iceland                        18.0                    18.0                                    18.00
Ireland                        12.5                    12.5                                    12.50
       *
Israel                         25.0                    25.0                0.0                 25.00
Italy*                         27.5                    27.5                                    27.50
Japan                          30.0                   27.99               11.55                39.54
Korea                          22.0                    22.0                2.2                 24.20
Luxembourg                 21.84 (21.0)               21.84               6.75                 28.59
Mexico                         30.0                    30.0                                    30.00
Netherlands*                   25.5                    25.5                                    25.50
New Zealand*                   30.0                    30.0                                    30.00
Norway                         28.0                    28.0                                    28.00
Poland*                        19.0                    19.0                                    19.00
Portugal*                      25.0                    25.0                1.5                 26.50
Slovak Republic                19.0                    19.0                                    19.00
Slovenia                       20.0                    20.0                                    20.00
Spain                          30.0                    30.0                                    30.00
Sweden                         26.3                    26.3                                    26.30
            *
Switzerland                     8.5                    6.70               14.47                21.17
Turkey                         20.0                    20.0                                    20.00
                *
United Kingdom                 28.0                    28.0                                    28.00
              *
United States                  35.0                    32.7                6.47                39.21



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates. Where a
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be fou
the Explanatory Annex.
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be fou
the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is shown in round
brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)), adjuste
applicable) to show the net rate where the central government provides a deduction in respect of sub-central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate, inclusive of
sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-central surtax appli
the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the adjusted
central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special statutor
corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of qualifying inco
Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Belgium: the effective CIT rate can be substantially reduced by a notional allowance for corporate equity (ACE). E.g. the effective
tax rate is only half the nominal tax rate when the return on equity before tax is twice the notional interest rate (3.8% in
See explanatory notes for more details.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from Chilean
sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under double taxation
agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: the rates include a surcharge, but does not include the local business tax (Taxe professionnelle) or the turnover based
solidarity tax (Contribution de Solidarité). More information on the surcharge is included as a comment.
Germany: the rates include the regional trade tax (Gewerbesteuer) and the surcharge.
Hungary: the rates do not include the turnover based local business tax, the innovation tax, the financial institutions' surtaxes,
the energy suppliers' surtax and the crisis taxes.
Israel: within the VAT law, Financial Institutions pay taxes on the combination of their wages and salaries and their profits. These
amounts are deductible from profits in the assessment of corporate income tax. See the Explanatory Annex for a table showing
the historical tax rates.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See explanatory
notes for more details.
Netherlands: applies to taxable income over EUR 200,000
New Zealand: has a non-calendar tax year, the rates shown are those in effect as of 1 April.
Poland: there is no sub-cental government tax, however local authorities (of each level) participate in tax revenue at a given
percentage for each level of local authority.
Portugal: since 2009, two general tax rates are applied at a Central Government Level. A general tax rate of 12,5% will be applied
for the first € 12500 of taxable income and a 25% tax rate will be applied for the remaining amount of taxable income (when the
total taxable income exceeds € 12500)
Switzerland: church taxes, which cannot be avoided by enterprises, are included.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory notes for
more details.
                       Targeted
                       corporate
                                6
                      tax rates

                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           N

                           N
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           Y
                           N
                           Y
                           N
                           Y
                           N

                           Y
                           N
                           N
                           N
                           Y
                           Y




ry) corporate income tax rates. Where a
 . Further explanatory notes may be found in
. Further explanatory notes may be found in

rporate income tax rate, measured gross of a
ate exclusive of surtax is shown in round

te (inclusive of surtax (if any)), adjusted (if
                   central income tax.
ory corporate income tax rate, inclusive of
                     -central surtax applies,

 e income tax rate given by the adjusted

with targeting through a special statutory
mined as a percentage of qualifying income).




 or corporate equity (ACE). E.g. the effective
e the notional interest rate (3.8% in 2010).

ed on any income derived from Chilean
 nd are available under double taxation


                  ) or the turnover based


on tax, the financial institutions' surtaxes,

 r wages and salaries and their profits. These
the Explanatory Annex for a table showing

tività Produttive; IRAP). See explanatory



el) participate in tax revenue at a given

 l. A general tax rate of 12,5% will be applied
aining amount of taxable income (when the



come tax rate. See explanatory notes for
PART II. Taxation of Corporate and Capital Income (2009)

                                        1
Table II.1. Corporate income tax rate


                             Central              Adjusted central      Sub-central        Combined
                          government                government         government          corporate
                        corporate income         corporate income    corporate income        income
                                     2                        3                   4                  5
Country                     tax rate                 tax rate            tax rate           tax rate
          *
Australia                      30.0                    30.0                                   30.00
Austria                        25.0                    25.0                                   25.00
           *
Belgium                    33.99 (33.0)               33.99                                   33.99
Canada                         19.0                    19.0                12.0               31.02
Chile*                         17.0                    17.0                                   17.00
Czech Republic                 20.0                    20.0                                   20.00
Denmark                        25.0                    25.0                                   25.00
Estonia*                       21.0                    21.0                                   21.00
Finland                        26.0                    26.0                                   26.00
France*                        34.43                  34.43                                   34.43
Germany*                   15,825 (15,0)              15,825              14.35               30.18
Greece                         25.0                    25.0                                   25.00
Hungary*                    20.0 (16.0)                20.0                                   20.00
Iceland                        15.0                    15.0                                   15.00
Ireland                        12.5                    12.5                                   12.50
       *
Israel                          26                      26                  0                  26
Italy*                         27.5                    27.5                                   27.50
Japan                          30.0                   27.99               11.55               39.54
Korea                          22.0                    22.0                2.2                24.20
Luxembourg                 21.84 (21.0)               21.84               6.75                28.59
Mexico                         28.0                    28.0                                   28.00
Netherlands*                   25.5                    25.5                                   25.50
New Zealand*                   30.0                    30.0                                   30.00
Norway                         28.0                    28.0                                   28.00
         *
Poland                         19.0                    19.0                                   19.00
Portugal*                      25.0                    25.0                1.5                26.50
Slovak Republic                19.0                    19.0                                   19.00
Slovenia                       21.0                    21.0                                   21.00
Spain                          30.0                    30.0                                   30.00
Sweden                         26.3                    26.3                                   26.30
Switzerland*                    8.5                    6.70               14.47               21.17
Turkey                         20.0                    20.0                                   20.00
United Kingdom*                28.0                    28.0                                   28.00
United States*                 35.0                    32.8                6.30               39.10



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates. Where a
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be fou
the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is shown in round
brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)), adjuste
applicable) to show the net rate where the central government provides a deduction in respect of sub-central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate, inclusive of
sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-central surtax appli
the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the adjusted
central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special statutor
corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of qualifying inco
Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Belgium: the effective CIT rate can be substantially reduced by a notional allowance for corporate equity (ACE). E.g. the effective
tax rate is only half the nominal tax rate when the return on equity before tax is twice the notional interest rate (4.473% i
See explanatory notes for more details.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from Chilean
sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under double taxation
agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: the rates include a surcharge, but does not include the local business tax (Taxe professionnelle) or the turnover based
solidarity tax (Contribution de Solidarité). More information on the surcharge is included as a comment.
Germany: the rates include the regional trade tax (Gewerbesteuer) and the surcharge.
Hungary: The rates do not include the turnover based local business tax, the innovation tax, the credit institutions' surtax and the
energy suppliers' surtax.
Israel: within the VAT law, Financial Institutions pay taxes on the combination of their wages and salaries and their profits. These
amounts are deductible from profits in the assessment of corporate income tax. See the Explanatory Annex for a table showing
the historical tax rates.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See explanatory
notes for more details.
Netherlands: applies to taxable income over EUR 200,000
New Zealand: has a non-calendar tax year, the rates shown are those in effect as of 1 April.
Poland: there is no sub-cental government tax, however local authorities (of each level) participate in tax revenue at a given
percentage for each level of local authority.
Portugal: since 2009, two general tax rates are applied at a Central Government Level. A general tax rate of 12,5% will be applied
for the first € 12500 of taxable income and a 25% tax rate will be applied for the remaining amount of taxable income (when the
total taxable income exceeds € 12500)
Switzerland: church taxes, which cannot be avoided by enterprises, are included.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory notes for
                       Targeted
                       corporate
                                6
                      tax rates

                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           N

                           N
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           Y
                           N
                           Y
                           N
                           Y
                           N

                           Y
                           N
                           N
                           N
                           Y
                           Y




ry) corporate income tax rates. Where a
 . Further explanatory notes may be found in

rporate income tax rate, measured gross of a
rporate income tax rate, measured gross of a
ate exclusive of surtax is shown in round

te (inclusive of surtax (if any)), adjusted (if
                   central income tax.
ory corporate income tax rate, inclusive of
                     -central surtax applies,

 e income tax rate given by the adjusted

with targeting through a special statutory
mined as a percentage of qualifying income).




 or corporate equity (ACE). E.g. the effective
e the notional interest rate (4.473% in 2009).

ed on any income derived from Chilean
 nd are available under double taxation


                  ) or the turnover based


on tax, the credit institutions' surtax and the

 r wages and salaries and their profits. These
the Explanatory Annex for a table showing

tività Produttive; IRAP). See explanatory



el) participate in tax revenue at a given

 l. A general tax rate of 12,5% will be applied
aining amount of taxable income (when the



come tax rate. See explanatory notes for
PART II. Taxation of Corporate and Capital Income (2008)

                                        1
Table II.1. Corporate income tax rate


                          Central            Adjusted central      Sub-central        Combined
                       government              government         government          corporate
                     corporate income       corporate income    corporate income        income
                                  2                      3                   4                  5
Country                  tax rate               tax rate            tax rate           tax rate
          *
Australia                  30.0                   30.0                                   30.00
Austria                    25.0                   25.0                                   25.00
           *
Belgium                33.99 (33.0)              33.99                                   33.99
Canada                     19.5                   19.5                11.9               31.43
Chile*                     17.0                   17.0                                   17.00
Czech Republic             21.0                   21.0                                   21.00
Denmark                    25.0                   25.0                                   25.00
Estonia*                   21.0                   21.0                                   21.00
Finland                    26.0                   26.0                                   26.00
France*                    34.43                 34.43                                   34.43
Germany*               15.825 (15.0)             15.825              14.35               30.18
Greece                     25.0                   25.0                                   25.00
Hungary*                20.0 (16.0)               20.0                                   20.00
Iceland                    15.0                   15.0                                   15.00
Ireland                    12.5                   12.5                                   12.50
       *
Israel                      27                     27                  0                  27
Italy*                     27.5                   27.5                                   27.50
Japan                      30.0                  27.99               11.55               39.54
Korea                      25.0                   25.0                2.5                27.50
Luxembourg             22.88 (22.0)              22.88               6.75                29.63
Mexico                     28.0                   28.0                                   28.00
Netherlands*               25.5                   25.5                                   25.50
New Zealand*               30.0                   30.0                                   30.00
Norway                     28.0                   28.0                                   28.00
         *
Poland                     19.0                   19.0                                   19.00
Portugal                   25.0                   25.0                1.5                26.50
Slovak Republic            19.0                   19.0                                   19.00
Slovenia                   22.0                   22.0                                   22.00
Spain                      30.0                   30.0                                   30.00
Sweden                     28.0                   28.0                                   28.00
             *
Switzerland                 8.5                   6.70               14.47               21.17
Turkey                     20.0                   20.0                                   20.00
                 *
United Kingdom             28.0                   28.0                                   28.00
               *
United States              35.0                   32.7                6.54               39.25


Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates. Where a
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be
found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is shown in
round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)), adjuste
(if applicable) to show the net rate where the central government provides a deduction in respect of sub
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate, inclusive
of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub
applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the adjusted
central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special statutor
corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of qualifying
income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Belgium: the effective CIT rate can be substantially reduced by a notional allowance for corporate equity (ACE). E.g. the
effective tax rate is only half the nominal tax rate when the return on equity before tax is twice the notional interest rate
(4.307% in 2008). See explanatory notes for more details.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from Chilean
sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under double taxation
agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: the rates include a surcharge, but does not include the local business tax (Taxe professionnelle) or the turnover based
solidarity tax (Contribution de Solidarité). More information on the surcharge is included as a comment.
Germany: the rates include the regional trade tax (Gewerbesteuer) and the surcharge.
Hungary: the rates do not include the turnover based local business tax, the innovation tax and the credit institutions '
Israel: within the VAT law, Financial Institutions pay taxes on the combination of their wages and salaries and their profits.
These amounts are deductible from profits in the assessment of corporate income tax. See the Explanatory Annex for a table
showing the historical tax rates.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See explanatory
notes for more details.
Netherlands: applies to taxable income over EUR 275,000
New Zealand: has a non-calendar tax year, the rates shown are those in effect as of 1 April.
Poland: there is no sub-cental government tax, however local authorities (of each level) participate in tax revenue at a given
percentage for each level of local authority.
Switzerland: adjusted central and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see 'Quels taux
effectifs et nominaux d'imposition des sociétés en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction fiscal
Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory notes for
more details.
                       Targeted
                       corporate
                                6
                      tax rates

                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           N

                           N
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           Y
                           N
                           Y
                           N
                           Y
                           N

                           Y
                           N
                           N
                           N
                           Y
                           Y




tutory) corporate income tax rates. Where a
own. Further explanatory notes may be

al) corporate income tax rate, measured gross
al) corporate income tax rate, measured gross
 rporate rate exclusive of surtax is shown in

 ax rate (inclusive of surtax (if any)), adjusted
duction in respect of sub-central income tax.
tatutory corporate income tax rate, inclusive
d in Table II.3. Where a sub-central surtax

porate income tax rate given by the adjusted

e.g., with targeting through a special statutory
 etermined as a percentage of qualifying




nce for corporate equity (ACE). E.g. the
ore tax is twice the notional interest rate

  taxed on any income derived from Chilean
 me and are available under double taxation


  Taxe professionnelle) or the turnover based
 ncluded as a comment.

 vation tax and the credit institutions ' surtax.
 their wages and salaries and their profits.
me tax. See the Explanatory Annex for a table

 e Attività Produttive; IRAP). See explanatory



 h level) participate in tax revenue at a given

ss Federal Tax Administration (see 'Quels taux
 fiscaux. Le procédé de la déduction fiscale en
dicated as comments.

 al income tax rate. See explanatory notes for
PART II. Taxation of Corporate and Capital Income (2007)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central      Sub-central           Combined
                      government               government         government             corporate
                    corporate income        corporate income    corporate income           income
                                 2                       3                   4                     5
Country                 tax rate                tax rate            tax rate              tax rate

Australia*                 30.0                   30.0                                      30.0
Austria                    25.0                   25.0                                      25.0
Belgium*               33.99 (33.0)               33.99                                     34.0
Canada                 22.12 (21.0)               22.12                11.8                 34.0
Chile*                     17.0                   17.0                                      17.0
Czech Republic             24.0                   24.0                                      24.0
Denmark                    25.0                   25.0                                      25.0
Estonia*                   22.0                   22.0                                      22.0
Finland                    26.0                   26.0                                      26.0
France*                    34.43                  34.43                                     34.4
Germany*               26.375 (25.0)              21.89               17.01                 38.9
Greece                     25.0                   25.0                                      25.0
Hungary*                20.0 (16.0)               20.0                                      20.0
Iceland                    18.0                   18.0                                      18.0
Ireland                    12.5                   12.5                                      12.5
Israel*                     29                     29                   0                   29.0
Italy*                     33.0                   33.0                                      33.0
Japan                      30.0                   27.99               11.55                 39.5
Korea                      25.0                   25.0                 2.5                  27.5
Luxembourg             22.88 (22.0)               22.88               6.75                  29.6
Mexico                     28.0                   28.0                                      28.0
Netherlands                25.5                   25.5                                      25.5
New Zealand*               33.0                   33.0                                      33.0
Norway                     28.0                   28.0                                      28.0
Polandi                    19.0                   19.0                                      19.0
Portugal                   25.0                   25.0                 1.5                  26.5
Slovak Republic            19.0                   19.0                                      19.0
Slovenia                   23.0                   23.0                                      23.0
Spain                      32.5                   32.5                                      32.5
Sweden                     28.0                   28.0                                      28.0
Switzerland*                8.5                   6.69                14.64                 21.3
Turkey                     20.0                   20.0                                      20.0
                *
United Kingdom             30.0                   30.0                                      30.0
             *
United States              35.0                   32.7                 6.55                 39.3



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates. Where a
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be
found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is shown in
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured gross
of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is shown in
round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)), adjuste
(if applicable) to show the net rate where the central government provides a deduction in respect of sub
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate, inclusive
of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub
applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the adjusted
central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special statutor
corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of qualifying
income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Belgium: the effective CIT rate can be substantially reduced by a notional allowance for corporate equity (ACE). E.g. the
effective tax rate is only half the nominal tax rate when the return on equity before tax is twice the notional interest rate
(3.781% in 2007). See explanatory notes for more details.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from Chilean
sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under double taxation
agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: the rates include a surcharge, but does not include the local business tax (Taxe professionnelle) or the turnover based
solidarity tax (Contribution de Solidarité). More information on the surcharge is included as a comment.
Germany: the rates include the regional trade tax (Gewerbesteuer) and the surcharge.
Hungary: the rates do not include the turnover based local business tax, the innovation tax and the credit institutions '
Israel: within the VAT law, Financial Institutions pay taxes on the combination of their wages and salaries and their profits.
These amounts are deductible from profits in the assessment of corporate income tax. See the Explanatory Annex for a table
showing the historical tax rates.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See explanatory
notes for more details.
New Zealand: has a non-calendar tax year, the rates shown are those in effect as of 1 April.
Poland: there is no sub-cental government tax, however local authorities (of each level) participate in tax revenue at a given
percentage for each level of local authority.
Switzerland: adjusted central and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see 'Quels taux
effectifs et nominaux d'imposition des sociétés en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction fiscal
Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory notes for
more details.
                       Targeted
                       corporate
                                6
                      tax rates

                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           N

                           N
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           N
                           Y
                           Y
                           Y
                           Y
                           Y
                           N
                           Y
                           N
                           Y
                           N

                           Y
                           N
                           N
                           N
                           Y
                           Y




 utory) corporate income tax rates. Where a
own. Further explanatory notes may be

) corporate income tax rate, measured gross
porate rate exclusive of surtax is shown in
 ) corporate income tax rate, measured gross
 porate rate exclusive of surtax is shown in

 x rate (inclusive of surtax (if any)), adjuste d
uction in respect of sub -central income tax.
atutory corporate income tax rate, inclusive
 in Table II.3. Where a sub-central surtax

 orate income tax rate given by the adjusted

 .g., with targeting through a special statutory
  termined as a percentage of qualifying




 ce for corporate equity (ACE). E.g. the
 re tax is twice the notional interest rate

 taxed on any income derived from Chilean
me and are available under double taxation


 Taxe professionnelle) or the turnover based
 cluded as a comment.

vation tax and the credit institutions ' surtax.
their wages and salaries and their profits.
e tax. See the Explanatory Annex for a table

e Attività Produttive; IRAP). See explanatory


  level) participate in tax revenue at a given

 s Federal Tax Administration (see 'Quels taux
 iscaux. Le procédé de la déduction fiscal e en
 cated as comments.

al income tax rate. See explanatory notes for
PART II. Taxation of Corporate and Capital Income (2006)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central      Sub-central         Combined
                      government               government         government           corporate
                    corporate income        corporate income    corporate income         income
                                 2                       3                   4                   5
Country                 tax rate                tax rate            tax rate            tax rate

Australia*                 30.0                   30.0                                   30.0
Austria                    25.0                   25.0                                   25.0
Belgium*               33.99 (33.0)               33.99                                  34.0
Canada                 22.12 (21.0)               22.12               11.8               33.9
Chile*                     17.0                   17.0                                   17.0
Czech Republic             24.0                   24.0                                   24.0
Denmark                    28.0                   28.0                                   28.0
Estonia*                   23.0                   23.0                                   23.0
Finland                    26.0                   26.0                                   26.0
France*                    34.43                  34.43                                  34.43
Germany*               26.375 (25.0)              21.9               17.01               38.9
Greece                     29.0                   29.0                                   29.0
Hungary*               17.33 (16.0)               17.33                                  17.33
Iceland                    18.0                   18.0                                   18.0
Ireland                    12.5                   12.5                                   12.5
Israel*                     31                     31                  0                  31
Italy*                     33.0                   33.0                                   33.0
Japan                      30.0                   27.99              11.55               39.54
Korea                      25.0                   25.0                2.5                27.5
Luxembourg             22.88 (22.0)               22.88              6.75                29.63
Mexico                     29.0                   29.0                                   29.0
Netherlands                29.6                   29.6                                   29.6
New Zealand*               33.0                   33.0                                   33.0
Norway                     28.0                   28.0                                   28.0
Polandi                    19.0                   19.0                                   19.0
Portugal                   25.0                   25.0                2.5                27.5
Slovak Republic            19.0                   19.0                                   19.0
Slovenia                   25.0                   25.0                                   25.0
Spain                      35.0                   35.0                                   35.0
Sweden                     28.0                   28.0                                   28.0
Switzerland*                8.5                   6.69               14.64               21.32
Turkey*                    20.0                   20.0                                   20.0
United Kingdom*            30.0                   30.0                                   30.0
United States*             35.0                   32.7                6.60               39.30



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates. Where a
progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory notes may be
found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is
shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)), adjuste
(if applicable) to show the net rate where the central government provides a deduction in respect of sub
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate, inclusive
of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub
applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the adjusted
central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of
qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Belgium: the effective CIT rate can be substantially reduced by a notional allowance for corporate equity (ACE). E.g. the
effective tax rate is only half the nominal tax rate when the return on equity before tax is twice the notional interest rate
(3.442% in 2006). See explanatory notes for more details.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from Chilean
sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under double taxation
agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: the rates include a surcharge, but does not include the local business tax (Taxe professionnelle) or the turnover based
solidarity tax (Contribution de Solidarité). More information on the surcharge is included as a comment.
Germany: the rates include the regional trade tax (Gewerbesteuer) and the surcharge.
Hungary: the rates do not include the turnover based local business tax, the innovation tax and the special tax payable by
credit institutions and financial enterprises.
Israel: within the VAT law, Financial Institutions pay taxes on the combination of their wages and salaries and their profits.
These amounts are deductible from profits in the assessment of corporate income tax. See the Explanatory Annex for a table
showing the historical tax rates.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See explanatory
notes for more details.
New Zealand: has a non-calendar tax year, the rates shown are those in effect as of 1 April.
Poland: there is no sub-cental government tax, however local authorities (of each level) participate in tax revenue at a given
percentage for each level of local authority.
Switzerland: adjusted central and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see 'Quels
taux effectifs et nominaux d'imposition des sociétés en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction
fiscale en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
Turkey: from 21 June 2006 onwards, the corporate income tax rate was reduced from 30% to 20%. The rate of 20% will be
applied to the corporate profits earned in 2006.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory notes
for more details.
                        Targeted
                        corporate
                                 6
                       tax rates

                            Y
                            N
                            Y
                            Y
                            Y
                            Y
                            N

                            N
                            Y
                            N
                            Y
                            Y
                            N
                            Y
                            Y
                            N
                            Y
                            Y
                            Y
                            Y
                            Y
                            N
                            Y
                            N
                            Y
                            N

                            Y
                            N
                            N
                            N
                            Y
                            Y




tutory) corporate income tax rates. Where a
own. Further explanatory notes may be

 l) corporate income tax rate, measured
ory corporate rate exclusive of surtax is
 l) corporate income tax rate, measured
ory corporate rate exclusive of surtax is

ax rate (inclusive of surtax (if any)), adjuste d
 uction in respect of sub -central income tax.
tatutory corporate income tax rate, inclusive
d in Table II.3. Where a sub-central surtax

porate income tax rate given by the adjusted

e.g., with targeting through a special
 duction determined as a percentage of




nce for corporate equity (ACE). E.g. the
ore tax is twice the notional interest rate

 taxed on any income derived from Chilean
me and are available under double taxation


 Taxe professionnelle) or the turnover based
ncluded as a comment.

ovation tax and the special tax payable by

 their wages and salaries and their profits.
 e tax. See the Explanatory Annex for a table

 e Attività Produttive; IRAP). See explanatory


h level) participate in tax revenue at a given

ss Federal Tax Administration (see 'Quels
coins fiscaux. Le procédé de la déduction
xes are indicated as comments.
 from 30% to 20%. The rate of 20% will be


al income tax rate. See explanatory notes
PART II. Taxation of Corporate and Capital Income (2005)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central         Combined
                      government               government      government           corporate          Targeted
                    corporate income        corporate income corporate income         income           corporate
                                 2                       3                4                   5                 6
Country                 tax rate                tax rate         tax rate            tax rate         tax rates

Australia*                  30.0                  30.0                                 30.0               Y
Austria                     25.0                  25.0                                 25.0               N
Belgium                 33.99 (33.0)             33.99                                 33.99              Y
Canada                  22.12 (21.0)             22.12                12.1             34.2               Y
Chile*                      17.0                  17.0                                 17.0               Y
Czech Republic              26.0                  26.0                                 26.0               Y
Denmark                     28.0                  28.0                                 28.0               N
Estonia*                    24.0                  24.0                                 24.0
Finland                     26.0                  26.0                                 26.0               N
France*                34.95 (33.33)             34.95                                 34.95              Y
Germany*               26.375 (25.0)              21.9                17.01            38.9               N
Greece                      32.0                  32.0                                 32.0               Y
Hungary*                    16.0                  16.0                                 16.0               Y
Iceland                     18.0                  18.0                                 18.0               N
Ireland                     12.5                  12.5                                 12.5               Y
Israel*                      34                    34                   0               34                Y
Italy*                      33.0                  33.0                                 33.0               N
Japan                       30.0                 27.99                11.55            39.54              Y
Korea                       25.0                  25.0                 2.5             27.5               Y
Luxembourg              22.88 (22.0)             22.88                 7.5             30.38              Y
Mexico                      30.0                  30.0                                 30.0               Y
Netherlands                 31.5                  31.5                                 31.5               Y
New Zealand*                33.0                  33.0                                 33.0               N
Norway                     23.75                 23.75                4.25             28.0               Y
Poland                      19.0                  19.0                                 19.0               N
Portugal                    25.0                  25.0                 2.5             27.5               Y
Slovak Republic             19.0                  19.0                                 19.0               N
Slovenia                    25.0                  25.0                                 25.0
Spain                       35.0                  35.0                                 35.0               Y
Sweden                      28.0                  28.0                                 28.0               N
Switzerland*                8.5                   6.69                14.64            21.3       N       N
Turkey                      30.0                  30.0                                 30.0               N
United Kingdom*             30.0                  30.0                                 30.0               Y
United States*              35.0                  32.7                6.58             39.28              Y


Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from
Chilean sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under
double taxation agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: these are the rates applying to income earned in 2005, to be liquidated in 2006. The rates include surcharges,
PART II. Taxation of Corporate and Capital Income (2004)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central           Combined
                      government               government      government             corporate      Targeted
                    corporate income        corporate income corporate income           income       corporate
                                 2                       3                4                     5             6
Country                 tax rate                tax rate         tax rate              tax rate     tax rates

Australia*                  30.0                   30.0                                  30.0            Y
Austria                     34.0                   34.0                                  34.0            N
Belgium                 33.99 (33.0)              33.99                                  34.0            Y
Canada                  22.12 (21.0)              22.12                12.3              34.4            Y
Chile*                      16.5                   16.5                                  16.5            Y
Czech Republic              28.0                   28.0                                  28.0            Y
Denmark                     30.0                   30.0                                  30.0            N
Estonia*                    26.0                   26.0                                  26.0
Finland                     29.0                   29.0                                  29.0            N
France*                35.43 (33.33)              35.43                                  35.4            Y
Germany*               26.375 (25.0)               21.9                17.01             38.9            N
Greece                      35.0                   35.0                                  35.0            Y
Hungary*                    16.0                   16.0                                  16.0            Y
Iceland                     18.0                   18.0                                  18.0            N
Ireland                     12.5                   12.5                                  12.5            Y
Israel*                      35                     35                   0               35.0            Y
Italy*                      33.0                   33.0                                  33.0            N
Japan                       30.0                  27.99                11.55             39.5            Y
Korea                       27.0                   27.0                 2.7              29.7            Y
Luxembourg              22.88 (22.0)              22.88                 7.5              30.4            Y
Mexico                      33.0                   33.0                                  33.0            Y
Netherlands                 34.5                   34.5                                  34.5            Y
New Zealand*                33.0                   33.0                                  33.0            N
Norway                      28.0                   28.0                                  28.0            Y
Poland                      19.0                   19.0                                  19.0            N
Portugal                    25.0                   25.0                 2.5              27.5            Y
Slovak Republic             19.0                   19.0                                  19.0            N
Slovenia                    25.0                   25.0                                  25.0
Spain                       35.0                   35.0                                  35.0            Y
Sweden                      28.0                   28.0                                  28.0            N
Switzerland*                8.5                    6.45                17.65             24.1            N
Turkey                      33.0                   33.0                                  33.0            N
United Kingdom*             30.0                   30.0                                  30.0            Y
United States*              35.0                   32.7                6.63              39.3            Y


Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from
Chilean sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under
double taxation agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: these are the rates applying to income earned in 2004, to be liquidated in 2005              . The rates include
PART II. Taxation of Corporate and Capital Income (2003)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central         Combined
                      government               government      government           corporate      Targeted
                    corporate income        corporate income corporate income         income       corporate
                                 2                       3                4                   5             6
Country                 tax rate                tax rate         tax rate            tax rate     tax rates

Australia*                  30.0                  30.0                                 30.0            Y
Austria                     34.0                  34.0                                 34.0            N
Belgium                 33.99 (33.0)             33.99                                 34.0            Y
Canada                  24.12 (23.0)             24.12                11.8             35.9            Y
Chile*                      16.0                  16.0                                 16.0            Y
Czech Republic              31.0                  31.0                                 31.0            Y
Denmark                     30.0                  30.0                                 30.0            N
Estonia*                    26.0                  26.0                                 26.0
Finland                     29.0                  29.0                                 29.0            N
France*                35.43 (33.33)             35.43                                 35.4            Y
Germany*                27.96 (26.5)              23.2               17.01             40.2            N
Greece                      35.0                  35.0                                 35.0            Y
Hungary*                    18.0                  18.0                                 18.0            Y
Iceland                     18.0                  18.0                                 18.0            N
Ireland                     12.5                  12.5                                 12.5            Y
Israel*                      36                    36                  0               36.0            Y
Italy*                      34.0                  34.0                                 34.0            N
Japan                       30.0                  27.4                13.5             40.9            Y
Korea                       27.0                  27.0                 2.7             29.7            Y
Luxembourg              22.88 (22.0)             22.88                 7.5             30.4            Y
Mexico                      34.0                  34.0                                 34.0            Y
Netherlands                 34.5                  34.5                                 34.5            Y
New Zealand*                33.0                  33.0                                 33.0            N
Norway                      28.0                  28.0                                 28.0            Y
Poland                      27.0                  27.0                                 27.0            N
Portugal                    30.0                  30.0                3.0              33.0            Y
Slovak Republic             25.0                  25.0                                 25.0            Y
Slovenia                    25.0                  25.0                                 25.0
Spain                       35.0                  35.0                                 35.0            Y
Sweden                      28.0                  28.0                                 28.0            N
Switzerland*                8.5                   6.45               17.65             24.1            N
Turkey                      30.0                  30.0                                 30.0            N
United Kingdom*             30.0                  30.0                                 30.0            Y
United States*              35.0                  32.7                6.63             39.3            Y

Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from
Chilean sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under
double taxation agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
France: these are the rates applying to income earned in 2003, to be liquidated in 2004. The rates include surcharges,
but do not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de
PART II. Taxation of Corporate and Capital Income (2002)

                                        1
Table II.1. Corporate income tax rate


                          Central             Adjusted central        Sub-central          Combined
                       government               government           government            corporate         Targeted
                     corporate income        corporate income      corporate income       income tax         corporate
Country                  tax rate 2              tax rate 3            tax rate 4            rate 5         tax rates 6

Australia*                   30.0                   30.0                                       30.0              Y
Austria                      34.0                   34.0                                       34.0              N
Belgium                   40.2 (39.0)               40.2                                       40.2              Y
Canada                    26.12 (25)               26.12                   11.9               38.02              Y
Chile*                       15.0                   15.0                                       15.0              Y
Czech Republic               31.0                   31.0                                       31.0              Y
Denmark                      30.0                   30.0                                       30.0              N
Estonia*                     26.0                   26.0                                       26.0
Finland                      29.0                   29.0                                       29.0              N
France*                 35.43 (33.33)              35.43                                      35.43              Y
Germany*                26.375 (25.0)               21.9                  17.01                38.9              N
Greece                      35.00                   35.0                                       35.0              Y
Hungary*                     18.0                   18.0                                       18.0              Y
Iceland                      18.0                   18.0                                       18.0              N
Ireland                      16.0                   16.0                                       16.0              Y
Israel*                       36                     36                     0                   36               Y
Italy*                       36.0                   36.0                                       36.0              N
Japan                        30.0                   27.4                   13.5                40.9              Y
Korea                        27.0                   27.0                    2.7                29.7              Y
Luxembourg               22.88 (22.0)               22.9                    7.5               30.38              Y
Mexico                       35.0                   35.0                                       35.0              Y
Netherlands                  34.5                   34.5                                       34.5              Y
New Zealand*                 33.0                   33.0                                       33.0              N
Norway                       28.0                   28.0                                       28.0              Y
Poland                       28.0                   28.0                                       28.0              N
Portugal                     30.0                   30.0                   3.0                 33.0              Y
Slovak Republic              25.0                   25.0                                       25.0              Y
Slovenia                     25.0                   25.0                                       25.0
Spain                        35.0                   35.0                                       35.0              Y
Sweden                       28.0                   28.0                                       28.0              N
Switzerland*                  8.5                   6.42                  17.99                24.4              N
Turkey                    33.0 (30.0)               33.0                                       33.0              N
United Kingdom*              30.0                   30.0                                       30.0              Y
United States*               35.0                   32.7                   6.6                39.30              Y

Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from
Chilean sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under
double taxation agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
PART II. Taxation of Corporate and Capital Income (2001)

Table II.1. Corporate income tax rate 1

                                             Adjusted central         Sub-central          Combined
                    Central government         government            government            corporate         Targeted
                     corporate income       corporate income       corporate income       income tax       corporate tax
Country                  tax rate 2             tax rate 3             tax rate 4            rate 5           rates 6

Australia*                  30.0                   30.0                                      30.0                Y
Austria                     34.0                   34.0                                      34.0                N
Belgium                  40.2 (39.0)               40.2                                      40.2                Y
Canada                  28.12 (27.0)               28.12                  12.4               40.5                Y
Chile*                      15.0                   15.0                                      15.0                Y
Czech Republic              31.0                   31.0                                      31.0                Y
Denmark                     30.0                   30.0                                      30.0                N
Estonia*                    26.0                   26.0                                      26.0
Finland                     29.0                   29.0                                      29.0                N
France*                 36.43 (33.33)              36.43                                     36.43               Y
Germany*                26.375 (25.0)              21.9                   17.01              38.9                N
Greece                      37.5                   37.5                                      37.5                Y
Hungary*                    18.0                   18.0                                      18.0                Y
Iceland                     30.0                   30.0                                      30.0                N
Ireland                     20.0                   20.0                                      20.0                Y
Israel*                      36                     36                      0                 36                 Y
Italy*                      36.0                   36.0                                      36.0                N
Japan                       30.0                   27.4                   13.5               40.9                Y
Korea                       28.0                   28.0                   2.8                30.8                Y
Luxembourg               31.2 (30.0)               28.4                   9.1                37.5                Y
Mexico                      35.0                   35.0                                      35.0                Y
Netherlands                 35.0                   35.0                                      35.0                Y
New Zealand*                33.0                   33.0                                      33.0                N
Norway                      28.0                   28.0                                      28.0                Y
Poland                      28.0                   28.0                                      28.0                N
Portugal                    32.0                   32.0                    3.2               35.2                Y
Slovak Republic             29.0                   29.0                                      29.0                Y
Slovenia                    25.0                   25.0                                      25.0
Spain                       35.0                   35.0                                      35.0                Y
Sweden                      28.0                   28.0                                      28.0                N
Switzerland*                 8.5                    6.4                   18.3               24.7                N
Turkey                   33.0 (30.0)               33.0                                      33.0                N
United Kingdom*             30.0                   30.0                                      30.0                Y
United States*              35.0                   32.7                   6.56               39.3                Y

Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from
Chilean sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under
PART II. Taxation of Corporate and Capital Income (2000)

                                        1
Table II.1. Corporate income tax rate


                          Central             Adjusted central         Sub-central          Combined
                       government               government            government            corporate         Targeted
                     corporate income        corporate income       corporate income       income tax       corporate tax
Country                  tax rate 2              tax rate 3             tax rate 4            rate 5           rates 6

Australia*                   34.0                   34.0                                       34.0               Y
Austria                      34.0                   34.0                                       34.0               N
Belgium                   40.2 (39.0)               40.2                                       40.2               Y
Canada                   29.12 (28.0)              29.12                  13.31                42.4               Y
Chile*                       15.0                   15.0                                       15.0               Y
Czech Republic               31.0                   31.0                                       31.0               Y
Denmark                      32.0                   32.0                                       32.0               N
Estonia*                     26.0                   26.0                                       26.0
Finland                      29.0                   29.0                                       29.0               N
France*                 37.76 (33.33)              37.76                                       37.8               Y
Germany*                  42.2 (40.0)               35.0                  17.01                52.0               N
Greece                       40.0                   40.0                                       40.0               Y
Hungary*                     18.0                   18.0                                       18.0               Y
Iceland                      30.0                   30.0                                       30.0               N
Ireland                      24.0                   24.0                                       24.0               Y
Israel*                       36                     36                      0                 36.0               Y
Italy*                       37.0                   37.0                                       37.0               N
Japan                        30.0                   27.4                   13.5                40.9               Y
Korea                        28.0                   28.0                    2.8                30.8               Y
Luxembourg                31.2 (30.0)               28.4                    9.1                37.5               Y
Mexico                       35.0                   35.0                                       35.0               Y
Netherlands                  35.0                   35.0                                       35.0               Y
New Zealand*                 33.0                   33.0                                       33.0               N
Norway                       28.0                   28.0                                       28.0               Y
Poland                       30.0                   30.0                                       30.0               N
Portugal                     32.0                   32.0                    3.2                35.2               Y
Slovak Republic              29.0                   29.0                                       29.0               Y
Slovenia                     25.0                   25.0                                       25.0
Spain                        35.0                   35.0                                       35.0               Y
Sweden                       28.0                   28.0                                       28.0               N
Switzerland*                  8.5                   6.38                  18.54                24.9               N
Turkey                    33.0 (30.0)               33.0                                       33.0               N
United Kingdom*              30.0                   30.0                                       30.0               Y
United States*               35.0                   32.7                   6.64                39.3               Y


Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Chile: individuals and legal entities that are not resident or domiciled in Chile are taxed on any income derived from
Chilean sources, with a general tax rate of 35% (lower rates apply for some types of income and are available under
double taxation agreements).
Estonia: from 1 January 2000, the corporate income tax is levied on distributed profits.
PART II. Taxation of Corporate and Capital Income (1999)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central             Combined
                      government              government      government               corporate      Targeted
                    corporate income       corporate income corporate income             income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4              tax rate 5   tax rates 6

Australia*                  36.0                   36.0                  0.0               36.0           Y
Austria                     34.0                   34.0                  0.0               34.0           N
Belgium                  40.2 (39.0)               40.2                  0.0               40.2           Y
Canada                  29.12 (28.0)              29.12                 13.8              42.87           Y
Czech Republic              35.0                   35.0                  0.0               35.0           Y
Denmark                     32.0                   32.0                   -                32.0           N
Finland                     28.0                   28.0                                    28.0          n.a.
France*                 40,0 (33,33)               40.0                   0.0              40.0           Y
Germany*                 42,2 (40,0)               35.0                  17.0              52.0           N
Greece                      40.0                   40.0                   0.0              40.0
Hungary*                    18.0                   18.0                   0.0              18.0           Y
Iceland                     n.a.                   n.a.                  n.a.              n.a.          n.a.
Ireland                     28.0                   28.0                   0.0              28.0           Y
Italy*                      37.0                   37.0                   0.0              37.0           Y
Japan                       30.0                   n.a.            5.0 / 12.3 / 9.6        40.9           Y
Korea                       n.a.                   n.a.                  n.a.              n.a.          n.a.
Luxembourg                 (30.0)                  n.a.                  n.a.              n.a.          n.a.
Mexico                      35.0                   35.0                   0.0              35.0           Y
Netherlands                 35.0                   35.0                   0.0              35.0           N
New Zealand*                33.0                   33.0                   0.0              33.0           N
Norway                      28.0                   28.0                   0.0              28.0           Y
Poland                      34.0                   34.0                   0.0              34.0           N
Portugal                    34.0                   34.0                   3.4              37.4           Y
Slovak Republic             40.0                   40.0                   0.0              40.0           Y
Spain                       35.0                   35.0                   0.0              35.0           Y
Sweden                      28.0                   28.0                   0.0              28.0           N
Switzerland*                 8.5                   6.37                 18.73             25.09           N
Turkey                      n.a.                   n.a.                  n.a.              n.a.          n.a.
United Kingdom*             30.0                   30.0                   0.0              30.0           Y
United States*              35.0                   32.6                  6.76             39.39           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
gross of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the tax. Where surtax provides a statutory in respect of sub-central
measured gross of a deduction (if any) for sub-central central governmentapplies, the deduction corporate rate exclusive
of surtax is shown in round brackets ( ).
income tax.
3. This column shows the basic central government statutory corporate and local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
adjusted (if applicable) to show the netThe rate shouldcentral government provides a deduction in respect of sub -sub-
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate (e.g., within Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub -
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutory to qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
(b) These are the rates applying is shown, more information be paid in 2006.The II.2.
of qualifying income). Where a 'Y'to income earned in 2005, tocan be found in Table rates include surcharges, but does
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
Australia: has a non-calendar tax trade tax (Gewerbesteuer)those in effect as of 1 July.
(c) The rates include the regional year, the rates shown are and the surcharge.
(d) The these are not include the turnover based local business tax.
France: rates doesthe rates applying to income earned in 1999, to be liquidated in 2000. The rates include surcharges,
(e) These rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
but do not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de
explanatory notes for more details.
Solidarité).for the information KPMG's Corporateis includedSurvey.
(f) Source More information: on the surcharges Tax Rate as a comment.
Germany: the rates include the regional trade are (Gewerbesteuer) and theFederal Tax Administration (see 'Quels taux
(g) Adjusted central and sub-central tax rates tax calculated by the Swiss surcharge.
Hungary: the rates dod'imposition des turnover based localpour le calcul .des coins fiscaux. Le procédé de la déduction
effectifs et nominaux not include the sociétés en Suisse business tax
fiscale en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
PART II. Taxation of Corporate and Capital Income (1998)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central             Combined
                      government              government      government               corporate      Targeted
                    corporate income       corporate income corporate income             income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4              tax rate 5   tax rates 6

Australia*                 36.0                    36.0                  0.0              36.0            Y
Austria                    34.0                    34.0                  0.0              34.0            N
Belgium                 40.2 (39.0)                40.2                  0.0              40.2            Y
Canada                 29.12 (28.0)               29.12                 13.8             42.94            Y
Czech Republic             35.0                    35.0                  0.0              35.0            Y
Denmark                    34.0                    34.0                   -               34.0            N
Finland                    28.0                    28.0                                   28.0           n.a.
France*                41,66 (33,33)              41.66                  0.0             41.66            Y
Germany*               47,475 (45,0)               39.7                 16.3              56.0            N
Greece                     40.0                    40.0                  0.0              40.0
Hungary*                   18.0                    18.0                  0.0              18.0            Y
Iceland                    n.a.                    n.a.                  n.a.             n.a.           n.a.
Ireland                    32.0                    32.0                  0.0              32.0            Y
Italy*                     37.0                    37.0                  0.0              37.0            Y
Japan                      34.5                    n.a.           5.0 / 12.3 / 11.0       46.4            Y
Korea                      n.a.                    n.a.                  n.a.             n.a.           n.a.
Luxembourg                (30.0)                   n.a.                  n.a.             n.a.           n.a.
Mexico                     34.0                    34.0                  0.0              34.0            Y
Netherlands                35.0                    35.0                  0.0              35.0            N
New Zealand*               33.0                    33.0                  0.0              33.0            N
Norway                     28.0                    28.0                  0.0              28.0            Y
Poland                     36.0                    36.0                  0.0              36.0            N
Portugal                   34.0                    34.0                  3.4              37.4            Y
Slovak Republic            40.0                    40.0                  0.0              40.0            Y
Spain                      35.0                    35.0                  0.0              35.0            Y
Sweden                     28.0                    28.0                  0.0              28.0            N
Switzerland*                8.5                    6.14                 21.66            27.798           N
Turkey                     n.a.                    n.a.                  n.a.             n.a.           n.a.
United Kingdom*            31.0                    31.0                  0.0              31.0            Y
United States*             35.0                    32.6                 6.83             39.44            Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
gross of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the tax. Where surtax provides a statutory in respect of sub-central
measured gross of a deduction (if any) for sub-central central governmentapplies, the deduction corporate rate exclusive
of surtax is shown in round brackets ( ).
income tax.
3. This column shows the basic central government statutory corporate and local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
adjusted (if applicable) to show the netThe rate shouldcentral government provides a deduction in respect of sub -sub-
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate (e.g., within Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub -
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutory to qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
(b) These are the rates applying is shown, more information be paid in 2006.The II.2.
of qualifying income). Where a 'Y'to income earned in 2005, tocan be found in Table rates include surcharges, but does
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
Australia: has a non-calendar tax trade tax (Gewerbesteuer)those in effect as of 1 July.
(c) The rates include the regional year, the rates shown are and the surcharge.
(d) The these are not include the turnover based local business tax.
France: rates doesthe rates applying to income earned in 1998, to be liquidated in 1999. The rates include surcharges,
(e) These rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
but do not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de
explanatory notes for more details.
Solidarité).for the information KPMG's Corporateis includedSurvey.
(f) Source More information: on the surcharges Tax Rate as a comment.
Germany: the rates include the regional trade are (Gewerbesteuer) and theFederal Tax Administration (see 'Quels taux
(g) Adjusted central and sub-central tax rates tax calculated by the Swiss surcharge.
Hungary: the rates dod'imposition des turnover based localpour le calcul .des coins fiscaux. Le procédé de la déduction
effectifs et nominaux not include the sociétés en Suisse business tax
fiscale en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
Italy: these rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
PART II. Taxation of Corporate and Capital Income (1997)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central             Combined
                      government              government      government               corporate      Targeted
                    corporate income       corporate income corporate income             income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4              tax rate 5   tax rates 6

Australia*                 36.0                    36.0                  0.0               36.0           Y
Austria                    34.0                    34.0                  0.0               34.0           N
Belgium                 40.2 (39.0)                40.2                  0.0               40.2           Y
Canada                 29.12 (28.0)               29.12                 13.8              42.94           Y
Czech Republic             39.0                    39.0                  0.0               39.0           Y
Denmark                    34.0                    34.0                   -                34.0           N
Finland                    28.0                    28.0                                    28.0          n.a.
France*                41,66 (33,33)              41.66                  0.0              41.66           Y
Germany*               48,375 (45,0)               40.5                 16.3               56.8           N
Greece                     35.0                    35.0                  0.0               35.0
Hungary*                   18.0                    18.0                  0.0               18.0           Y
Iceland                    n.a.                    n.a.                  n.a.              n.a.          n.a.
Ireland                    36.0                    36.0                  0.0               36.0           Y
Italy*                   53,2 (37)                 53.2                  0.0               53.2           Y
Japan                      37.5                    n.a.           5.0 / 12.3 / 12.0        50.0           Y
Korea                      n.a.                    n.a.                  n.a.              n.a.          n.a.
Luxembourg                (32.0)                   n.a.                  n.a.              n.a.          n.a.
Mexico                     34.0                    34.0                  0.0               34.0           Y
Netherlands                35.0                    35.0                  0.0               35.0           Y
New Zealand*               33.0                    33.0                  0.0               33.0           N
Norway                     21.3                    21.3                  6.8               28.0           Y
Poland                     38.0                    38.0                  0.0               38.0           N
Portugal                   34.0                    34.0                  3.4               37.4           Y
Slovak Republic            40.0                    40.0                  0.0               40.0           Y
Spain                      35.0                    35.0                  0.0               35.0           Y
Sweden                     28.0                    28.0                  0.0               28.0           N
Switzerland*                9.8                    7.01                 21.46              28.5           N
Turkey                     n.a.                    n.a.                  n.a.              n.a.          n.a.
United Kingdom*            31.0                    31.0                  0.0               31.0           Y
United States*             35.0                    32.6                 6.85              39.45           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
Where column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
notes of a be found (if any) for sub-central tax.
gross may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the tax. Where surtax provides a statutory in respect of sub-central
measured gross of a deduction (if any) for sub-central central governmentapplies, the deduction corporate rate exclusive
of surtax is shown in round brackets ( ).
income tax.
3. This column shows the basic central government statutory corporate and local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
adjusted (if applicable) to show the netThe rate shouldcentral government provides a deduction in respect of sub -sub-
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
central income tax.
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate (e.g., within Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub -
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutory to qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
(b) These are the rates applying is shown, more information be paid in 2006.The II.2.
of qualifying income). Where a 'Y'to income earned in 2005, tocan be found in Table rates include surcharges, but does
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
(c) The rates include the regional year, the rates shown are and the surcharge.
Australia: has a non-calendar tax trade tax (Gewerbesteuer)those in effect as of 1 July.
(d) The rates doesthe rates applying to income earned in 1997, to be liquidated in 1998. The rates include surcharges,
France: these are not include the turnover based local business tax.
(e) These include the local business tax (Taxe business tax (Imposta turnover based solidarity Produttive; IRAP). See
but do not rates do not include the regional professionnelle) or the Regionale sulle Attività tax (Contribution de
explanatory notes for more details.
Solidarité). More information on the surcharges is included as a comment.
(f) Source for the information: KPMG's Corporate Tax Rate Survey.
Germany: the rates include the regional trade are (Gewerbesteuer) and theFederal Tax Administration (see 'Quels taux
(g) Adjusted central and sub-central tax rates tax calculated by the Swiss surcharge.
Hungary: the rates dod'imposition des turnover based localpour le calcul .des coins fiscaux. Le procédé de la déduction
effectifs et nominaux not include the sociétés en Suisse business tax
Italy: these rates include the local income tax (Imposta Localeexcluding church taxes are indicatedIRPEG.
fiscale en Suisse'). Church taxes are included, but the results sui Redditi; ILOR), deductible from as comments.
PART II. Taxation of Corporate and Capital Income (1996)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central            Combined
                      government               government      government              corporate      Targeted
                    corporate income        corporate income corporate income            income       corporate
                                 2                       3                4                      5             6
Country                 tax rate                tax rate         tax rate               tax rate     tax rates
          *
Australia                  36.0                   36.0                  0.0               36.0            Y
Austria                    34.0                   34.0                  0.0               34.0            N
Belgium                 40.2 (39.0)               40.2                  0.0               40.2            Y
Canada                 29.12 (28.0)               29.12                 13.8              42.94           Y
Czech Republic             39.0                   39.0                  0.0               39.0            Y
Denmark                    34.0                   34.0                   -                34.0            N
Finland                    28.0                   28.0                                    28.0           n.a.
       *
France                 36,66 (33,33)              36.66                  0.0              36.66           Y
           *
Germany                48,375 (45,0)              41.3                  14.5              55.9            N
Greece                     35.0                   35.0                   0.0              35.0
         *
Hungary                    18.0                   18.0                   0.0              18.0            N
Iceland                    n.a.                    n.a.                  n.a.              n.a.          n.a.
Ireland                    36.0                   36.0                   0.0              36.0            Y
Italy*                   53,2 (37)                53.2                   0.0              53.2            N
Japan                      37.5                    n.a.           5.0 / 12.3 / 12.0       50.0            Y
Korea                      n.a.                    n.a.                  n.a.              n.a.          n.a.
Luxembourg                (33.0)                   n.a.                  n.a.              n.a.          n.a.
Mexico                     34.0                   34.0                   0.0              34.0            Y
Netherlands                35.0                   35.0                   0.0              35.0            Y
New Zealand*               33.0                   33.0                   0.0              33.0            N
Norway                     20.8                   20.8                   7.3              28.0            Y
Poland                     40.0                   40.0                   0.0              40.0            N
Portugal                   36.0                   36.0                   3.6              39.6            Y
Slovak Republic            40.0                   40.0                   0.0              40.0            Y
Spain                      35.0                   35.0                   0.0              35.0
Sweden                     28.0                   28.0                   0.0              28.0            N
Switzerland*                9.8                   7.01                  21.46            28.469           N
Turkey                     n.a.                    n.a.                  n.a.              n.a.          n.a.
United Kingdom*            33.0                   33.0                   0.0              33.0            Y
             *
United States              35.0                   32.6                  6.97              39.53           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
notes of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
measured gross of a deduction (ifthe net rate where the central government provides a deduction in respect of sub-
of surtax is shown in round brackets ( ).
central income tax.
3. This column shows the basic central government statutory corporateand local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
adjusted (if applicable) to show the netThe rate should central government provides a deduction in respect of sub-sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate(e.g., with in Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub-
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutoryto qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
of qualifying income). Where a 'Y'to income earned in 2005, to can paid in 2006.The rates include surcharges, but does
(b) These are the rates applying is shown, more information be be found in Table II.2.
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
(c) The rates include the regional year, the rates shown are and the surcharge.
Australia: has a non-calendar tax trade tax (Gewerbesteuer) those in effect as of 1 July.
(d) The rates doesthe rates applying to income earned in 1996, to be liquidated in 1997. . The rates include surcharges,
France: these are not include the turnover based local business tax.
(e) These include the local business tax (Taxe business tax (Imposta turnover based solidarity Produttive; IRAP). See
but do not rates do not include the regional professionnelle) or the Regionale sulle Attività tax (Contribution de
explanatory notes for more details.
Solidarité). More information on the surcharges is included as a comment.
(f) Source for the information: KPMG's Corporate Tax Rate Survey.
Germany: the rates include the regional rates are (Gewerbesteuer) and theFederal Tax Administration (see 'Quels taux
(g) Adjusted central and sub-central tax trade tax calculated by the Swiss surcharge.
Hungary: the rates dod'imposition des turnover en Suisse pour le calcul and the 23% supplementary taxde la déduction
effectifs et nominaux not include the sociétés based local business tax des coins fiscaux. Le procédé (payable by
corporations on certain payments like dividends). the results excluding church taxes are indicated as comments.
fiscale en Suisse'). Church taxes are included, but
PART II. Taxation of Corporate and Capital Income (1995)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central            Combined
                      government               government      government              corporate      Targeted
                    corporate income        corporate income corporate income            income       corporate
                                 2                       3                4                      5             6
Country                 tax rate                tax rate         tax rate               tax rate     tax rates
          *
Australia                  36.0                   36.0                  0.0               36.0            Y
Austria                    34.0                   34.0                  0.0               34.0            N
Belgium                 40.2 (39.0)               40.2                  0.0               40.2            Y
Canada                 29.12 (28.0)               29.12                 13.7              42.86           Y
Czech Republic             41.0                   41.0                  0.0               41.0            Y
Denmark                    34.0                   34.0                   -                34.0            N
Finland                    25.0                   25.0                                    25.0           n.a.
       *
France                 36,66 (33,33)              36.66                  0.0              36.66           Y
           *
Germany                48,375 (45,0)              42.1                  13.0              55.1            N
Greece                     35.0                   35.0                   0.0              35.0
         *
Hungary                    18.0                   18.0                   0.0              18.0            N
Iceland                    n.a.                    n.a.                  n.a.              n.a.          n.a.
Ireland                    38.0                   38.0                   0.0              38.0            Y
Italy*                   53,2 (37)                53.2                   0.0              53.2            N
Japan                      37.5                    n.a.           5.0 / 12.3 / 12.0       50.0            Y
Korea                      n.a.                    n.a.                  n.a.              n.a.          n.a.
Luxembourg                (33.0)                   n.a.                  n.a.              n.a.          n.a.
Mexico                     34.0                   34.0                   0.0              34.0            Y
Netherlands                35.0                   35.0                   0.0              35.0            Y
New Zealand*               33.0                   33.0                   0.0              33.0            N
Norway                     19.8                   19.8                   8.3              28.0            Y
Poland                     40.0                   40.0                   0.0              40.0            N
Portugal                   36.0                   36.0                   3.6              39.6            Y
Slovak Republic            40.0                   40.0                   0.0              40.0            Y
Spain                      35.0                   35.0                   0.0              35.0
Sweden                     28.0                   28.0                   0.0              28.0            N
Switzerland*                9.8                   7.01                  21.46            28.469           N
Turkey                     n.a.                    n.a.                  n.a.              n.a.          n.a.
United Kingdom*            33.0                   33.0                   0.0              33.0            Y
             *
United States              35.0                   32.5                  7.09              39.61           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
notes of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
measured gross of a deduction (ifthe net rate where the central government provides a deduction in respect of sub-
of surtax is shown in round brackets ( ).
central income tax.
3. This column shows the basic central government statutory corporateand local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
adjusted (if applicable) to show the netThe rate should central government provides a deduction in respect of sub-sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate(e.g., with in Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub-
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutoryto qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
of qualifying income). Where a 'Y'to income earned in 2005, to can paid in 2006.The rates include surcharges, but does
(b) These are the rates applying is shown, more information be be found in Table II.2.
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
Australia: has a non-calendar tax trade tax (Gewerbesteuer) those in effect as of 1 July.
(c) The rates include the regional year, the rates shown are and the surcharge.
(d) The rates doesthe rates applying to income earned in 1995, to be liquidated in 1996. . The rates include surcharges,
France: these are not include the turnover based local business tax.
(e) These rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
but do not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de
explanatory notes for more details.
(f) Source More information: on the surcharges Tax Rate as a comment.
Solidarité).for the information KPMG's Corporateis includedSurvey.
Germany: the rates include the regional rates are (Gewerbesteuer) and theFederal Tax Administration (see 'Quels taux
(g) Adjusted central and sub-central tax trade tax calculated by the Swiss surcharge.
Hungary: the rates dod'imposition des turnover en Suisse pour le calcul and the 23% supplementary taxde la déduction
effectifs et nominaux not include the sociétés based local business tax des coins fiscaux. Le procédé (payable by
fiscale en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
corporations on certain payments like dividends).
PART II. Taxation of Corporate and Capital Income (1994)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central            Combined
                      government               government      government              corporate      Targeted
                    corporate income        corporate income corporate income            income       corporate
                                 2                       3                4                      5             6
Country                 tax rate                tax rate         tax rate               tax rate     tax rates
          *
Australia                   33.0                  33.0                  0.0               33.0            Y
Austria                     34.0                  34.0                  0.0               34.0            N
Belgium                 40.2 (39.0)               40.2                  0.0               40.2            Y
Canada                  28.84 (28.0)              28.84                 13.7              42.58           Y
Czech Republic              42.0                  42.0                  0.0               42.0            Y
Denmark                     34.0                  34.0                   -                34.0            N
Finland                     25.0                  25.0                                    25.0           n.a.
       *
France                      33.3                  33.3                   0.0              33.3            Y
           *
Germany                     45,0                  39.1                  13.0              52.2            N
Greece                      35.0                  35.0                   0.0              35.0
         *
Hungary                     36.0                  36.0                   0.0              36.0            N
Iceland                     n.a.                   n.a.                  n.a.              n.a.          n.a.
Ireland                     40.0                  40.0                   0.0              40.0            Y
Italy*                   53,2 (37)                53.2                   0.0              53.2            N
Japan                       37.5                   n.a.           5.0 / 12.3 / 12.0       50.0            Y
Korea                       n.a.                   n.a.                  n.a.              n.a.          n.a.
Luxembourg                 (33.0)                  n.a.                  n.a.              n.a.          n.a.
Mexico                      34.0                  34.0                   0.0              34.0            Y
Netherlands                 35.0                  35.0                   0.0              35.0            Y
New Zealand*                33.0                  33.0                   0.0              33.0            N
Norway                      18.5                  18.5                   9.5              28.0            Y
Poland                      40.0                  40.0                   0.0              40.0            N
Portugal                    36.0                  36.0                   3.6              39.6            Y
Slovak Republic             40.0                  40.0                   0.0              40.0            Y
Spain                       35.0                  35.0                   0.0              35.0
Sweden*                     28.0                  28.0                   0.0              28.0            N
Switzerland*                9.8                   7.01                  21.46            28.467           N
Turkey                      n.a.                   n.a.                  n.a.              n.a.          n.a.
United Kingdom*             33.0                  33.0                   0.0              33.0            Y
             *
United States               35.0                  32.5                  7.21              39.69           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
1. Thismay be found 'basic' Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
notes of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
measured gross of a deduction (ifthe net rate where the central government provides a deduction in respect of sub-
adjusted (if applicable) to show any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
central income tax.
3. This column shows the basic central government statutory corporateand local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
inclusive (if applicable) to show the netThe rate should central government provides a deduction in respect of sub-sub-
adjusted of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub-
inclusive of sub-central surtax (if any). The rate should be the representative rate(e.g., with in Table II.3. Where aspecial
central surtax applies, the statutoryto qualifying corporate rate exclusive of surtax is shown in round as a percentage of
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
(b)qualifying income). Where a 'Y'to income earned in 2005, to can paid in 2006.The rates include surcharges, but does
of These are the rates applying is shown, more information be be found in Table II.2.
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
(c) The rates include the regional year, the rates shown are and the surcharge.
Australia: has a non-calendar tax trade tax (Gewerbesteuer) those in effect as of 1 July.
(d) The these are not include the turnover based local business tax.
France: rates doesthe rates applying to income earned in 1994, to be liquidated in 1995. The rates do not include the
(e) These rates (Taxe include the regional turnover tax (Imposta Regionale sulle Attività Produttive;
local business taxdo notprofessionnelle) or thebusiness based solidarity tax (Contribution de Solidarité) IRAP). See
explanatory notes for more
Germany: the rates includedetails.
                              the regional trade tax (Gewerbesteuer) and the surcharge.
(f) Source for the information: KPMG's Corporate Tax Rate Survey.
               rates and sub-central tax rates are calculated by the tax.
Hungary: thecentraldo not include the turnover based local business Swiss Federal Tax Administration (see 'Quels taux
(g) Adjusted
Italy: thesenominaux d'imposition des sociétés en Suisse poursui Redditi; ILOR), deductible Le procédé de la déduction
effectifs et rates include the local income tax (Imposta Locale le calcul des coins fiscaux. from IRPEG.
New Zealand: has a non-calendar taxincluded, but the results excluding church taxes1 April.
fiscale en Suisse'). Church taxes are year, the rates shown are those in effect as of are indicated as comments.
PART II. Taxation of Corporate and Capital Income (1993)

                                        1
Table II.1. Corporate income tax rate


                         Central             Adjusted central   Sub-central            Combined
                      government               government      government              corporate      Targeted
                    corporate income        corporate income corporate income            income       corporate
                                 2                       3                4                      5             6
Country                 tax rate                tax rate         tax rate               tax rate     tax rates
          *
Australia                   33.0                  33.0                  0.0               33.0            Y
        *
Austria                     30.0                  30.0                  0.0               30.0            N
Belgium                 40.2 (39.0)               40.2                  0.0               40.2            Y
Canada                  28.84 (28.0)              28.84                 13.7              42.56           Y
Czech Republic              45.0                  45.0                  0.0               45.0            Y
Denmark                     34.0                  34.0                   -                34.0            N
Finland                     25.0                  25.0                                    25.0           n.a.
       *
France                      33.3                  33.3                   0.0              33.3            Y
            *
Germany                     50,0                  43.5                  13.0              56.5            N
Greece                      35.0                  35.0                   0.0              35.0
          *
Hungary                     40.0                  40.0                   0.0              40.0            N
Iceland                     n.a.                   n.a.                  n.a.              n.a.          n.a.
Ireland                     40.0                  40.0                   0.0              40.0            Y
Italy*                   52,2 (36)                52.2                   0.0              52.2            N
Japan                       37.5                   n.a.           5.0 / 12.3 / 12.0       50.0            Y
Korea                       n.a.                   n.a.                  n.a.              n.a.          n.a.
Luxembourg                 (33.0)                  n.a.                  n.a.              n.a.          n.a.
Mexico                      34.8                  34.8                   0.0              34.8            Y
Netherlands                 35.0                  35.0                   0.0              35.0            Y
New Zealand*                33.0                  33.0                   0.0              33.0            N
Norway                      17.0                  17.0                  11.0              28.0            Y
Poland                      40.0                  40.0                   0.0              40.0            N
Portugal                    36.0                  36.0                   3.6              39.6            Y
Slovak Republic             45.0                  45.0                   0.0              45.0            N
Spain                       35.0                  35.0                   0.0              35.0
Sweden                      30.0                  30.0                   0.0              30.0            N
Switzerland*                9.8                   7.01                  21.46            28.467           N
Turkey                      n.a.                   n.a.                  n.a.              n.a.          n.a.
United Kingdom*             33.0                  33.0                   0.0              33.0            Y
              *
United States               35.0                  32.4                  7.31              39.75           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
1. Thismay be found 'basic' Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
notes of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
measured gross of a deduction (ifthe net rate where the central government provides a deduction in respect of sub-
adjusted (if applicable) to show any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive
of surtax is shown in round brackets ( ).
central income tax.
3. This column shows the basic central government statutory corporateand local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
adjusted of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
inclusive (if applicable) to show the netThe rate should central government provides a deduction in respect of sub-sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub-
inclusive of sub-central surtax (if any). The rate should be the representative rate(e.g., with in Table II.3. Where aspecial
central surtax applies, the statutoryto qualifying corporate rate exclusive of surtax is shown in round as a percentage of
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
of These are the rates applying is shown, more information be be found in Table II.2.
(b)qualifying income). Where a 'Y'to income earned in 2005, to can paid in 2006.The rates include surcharges, but does
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
(c) The rates include the regional year, the rates shown are and the surcharge.
Australia: has a non-calendar tax trade tax (Gewerbesteuer) those in effect as of 1 July.
(d) The there was also a business tax of 13,5% (tax rate 4,5%, multiplier 300%) on adjusted profits. As this tax was
Austria:rates does not include the turnover based local business tax.
(e) These from its not base, the effective rate was about (Imposta Regionale sulle Attività Produttive; IRAP). See
deductible rates do own include the regional business tax 11,9%. Assuming no adjustments and taking into account
explanatory notes for more details.
the deductiblity of the bussiness tax from the corporate tax base, corporate profits were taxed at 38,3% at the
(f) Source for the information: KPMG's Corporate Tax Rate Survey.
companies' level. and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see 'Quels taux
(g) Adjusted central
France: these are the d'imposition des sociétés earned in 1993, to be liquidated in 1994. The rates do not include the
effectifs et nominaux rates applying to income en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction
local business tax (Taxe professionnelle) or thebut the results excluding church taxes are indicated as comments.
fiscale en Suisse'). Church taxes are included, turnover based solidarity tax (Contribution de Solidarité)
PART II. Taxation of Corporate and Capital Income (1992)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central             Combined
                      government              government      government               corporate      Targeted
                    corporate income       corporate income corporate income             income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4              tax rate 5   tax rates 6

Australia*                  39.0                   39.0                  0.0               39.0           Y
Austria*                    30.0                   30.0                  0.0               30.0           N
Belgium                     39.0                   39.0                  0.0               39.0           Y
Canada                 28.84 (28.0)               28.84                 13.7              42.52           Y
Czech Republic                -                      -                    -                  -            -
Denmark                     34.0                   34.0                   -                34.0           N
Finland                     19.0                   n.a.                  n.a.              39.0          n.a.
France*                     34.0                   34.0                  0.0               34.0           Y
Germany*               51,875 (50,0)               45.1                 13.0               58.2           N
Greece*                   46 -- 35               46 -- 35                0.0             46 -- 35
Hungary*                    40.0                   40.0                  0.0               40.0           N
Iceland                     n.a.                   n.a.                  n.a.              n.a.          n.a.
Ireland                     40.0                   40.0                  0.0               40.0           Y
Italy*                   52,2 (36)                 52.2                  0.0               52.2           N
Japan                       37.5                   n.a.           5.0 / 12.3 / 12.0        50.0           Y
Korea                       n.a.                   n.a.                  n.a.              n.a.          n.a.
Luxembourg                 (33.0)                  n.a.                  n.a.              n.a.          n.a.
Mexico                      35.0                   35.0                  0.0               35.0           Y
Netherlands                 35.0                   35.0                  0.0               35.0           Y
New Zealand*                33.0                   33.0                  0.0               33.0           N
Norway                      17.0                   17.0                 11.0               28.0           Y
Poland                      40.0                   40.0                  0.0               40.0           N
Portugal                    36.0                   36.0                  3.6               39.6           Y
Slovak Republic               -                      -                    -                  -            -
Spain                       35.0                   35.0                  0.0               35.0
Sweden                      30.0                   30.0                  0.0               30.0           N
Switzerland*                 9.8                   7.05                 20.98            28.034           N
Turkey                      n.a.                   n.a.                  n.a.              n.a.          n.a.
United Kingdom*             33.0                   33.0                  0.0               33.0           Y
United States*              34.0                   31.5                 7.37              38.86           Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
notes of a be found (if any) for sub-central tax.
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the tax. Where surtax provides a statutory in respect of sub-central
measured gross of a deduction (if any) for sub-central central governmentapplies, the deduction corporate rate exclusive
of surtax is shown in round brackets ( ).
income tax.
3. This column shows the basic central government statutory corporate and local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
inclusive (if applicable) to show the netThe rate shouldcentral government provides a deduction in respect of sub -sub-
adjusted of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central
                                                                         and local) statutory income tax rate given by
4. This column shows the basic sub-central (combined state/regional(statutory) corporate corporate income tax rate,the
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate (e.g., within Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub -
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutory to qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
of qualifying income). Where a 'Y'to income earned in 2005, tocan be found in Table rates include surcharges, but does
(b) These are the rates applying is shown, more information be paid in 2006.The II.2.
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
(c) The rates include the regional year, the rates shown are and the surcharge.
Australia: has a non-calendar tax trade tax (Gewerbesteuer)those in effect as of 1 July.
(d) The there was also a business tax of 13,5% (tax rate 4,5%, multiplier 300%) on adjusted profits. As this tax was
Austria:rates does not include the turnover based local business tax.
(e) These rates do own include the regional business tax 11,9%. Assuming no adjustments and taking into account
deductible from its not base, the effective rate was about (Imposta Regionale sulle Attività Produttive; IRAP). See
explanatory notes for more details.
the deductiblity of the bussiness tax from the corporate tax base, corporate profits were taxed at 38,3% at the
(f) Source for the information: KPMG's Corporate Tax Rate Survey.
companies' level. and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see 'Quels taux
(g) Adjusted central
France: these are the d'imposition des sociétés earned in 1992, to be liquidated in 1993. The rates do not include the
effectifs et nominaux rates applying to income en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction
local business tax (Taxe professionnelle) or thebut the results excluding church taxes are indicated as comments.
fiscale en Suisse'). Church taxes are included, turnover based solidarity tax (Contribution de Solidarité)
PART II. Taxation of Corporate and Capital Income (1991)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central             Combined
                      government              government      government               corporate      Targeted
                    corporate income       corporate income corporate income             income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4              tax rate 5   tax rates 6

Australia*                 39.0                    39.0                  0.0              39.0            Y
Austria*                   30.0                    30.0                  0.0              30.0            N
Belgium                    39.0                    39.0                  0.0              39.0            Y
Canada                 28.84 (28.0)               28.84                 13.0             41.81            Y
Czech Republic               -                       -                    -                 -             -
Denmark                    38.0                    38.0                   -               38.0            N
Finland                    23.0                    n.a.                  n.a.             42.0           n.a.
France*                 42,0 (34,0)                42.0                  0.0              42.0            Y
Germany*               51,875 (50,0)               47.2                  9.1              56.3            N
Greece*                    46.0                    46.0                  0.0              46.0
Hungary*                   40.0                    40.0                  0.0              40.0            N
Iceland                    n.a.                    n.a.                  n.a.             n.a.           n.a.
Ireland                    40.0                    40.0                  0.0              40.0            Y
Italy*                   52,2 (36)                 47.8                  0.0              47.8            N
Japan                      37.5                    n.a.           5.0 / 12.3 / 12.0       50.0            Y
Korea                      n.a.                    n.a.                  n.a.             n.a.           n.a.
Luxembourg                (33.0)                   n.a.                  n.a.             n.a.           n.a.
Mexico                     35.0                    35.0                  0.0              35.0            Y
Netherlands                35.0                    35.0                  0.0              35.0            Y
New Zealand*               33.0                    33.0                  0.0              33.0            N
Norway                     29.8                    29.8                 21.0              50.8            Y
Poland                     n.a.                    n.a.                  n.a.             n.a.           n.a.
Portugal                   36.0                    36.0                  3.6              39.6            Y
Slovak Republic              -                       -                    -                 -             -
Spain                      35.0                    35.0                  0.0              35.0
Sweden*                    30.0                    30.0                  0.0              30.0            N
Switzerland*                9.8                    7.08                 20.64            27.721           N
Turkey                     n.a.                    n.a.                  n.a.             n.a.           n.a.
United Kingdom*            33.0                    33.0                  0.0              33.0            Y
United States*             34.0                    31.5                 7.35             38.85            Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross of a be found (if any) for sub-central tax.
notes may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the tax. Where surtax provides a statutory in respect of sub-central
measured gross of a deduction (if any) for sub-central central governmentapplies, the deduction corporate rate exclusive
of surtax is shown in round brackets ( ).
income tax.
3. This column shows the basic central government statutory corporate and local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
adjusted (if applicable) to show the netThe rate shouldcentral government provides a deduction in respect of sub -sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate (e.g., within Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub -
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutory to qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
of qualifying income). Where a 'Y'to income earned in 2005, tocan be found in Table rates include surcharges, but does
(b) These are the rates applying is shown, more information be paid in 2006.The II.2.
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
Australia: has a non-calendar tax trade tax (Gewerbesteuer)those in effect as of 1 July.
(c) The rates include the regional year, the rates shown are and the surcharge.
(d) The there was also a business tax of 13,5% (tax rate 4,5%, multiplier 300%) on adjusted profits. As this tax was
Austria:rates does not include the turnover based local business tax.
(e) These rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
deductible from its own base, the effective rate was about 11,9%. Assuming no adjustments and taking into account
explanatory notes for more details.
(f) Source for the of the bussiness tax Corporate Tax Rate Survey.
the deductiblity information: KPMG'sfrom the corporate tax base, corporate profits were taxed at 38,3% at the
companies' level. and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see 'Quels taux
(g) Adjusted central
France: these are the d'imposition des sociétés earned in 1991, to be liquidated in 1992. The rates do not include the
effectifs et nominaux rates applying to income en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction
fiscale en Suisse'). Church taxes are included, turnover based solidarity tax (Contribution de Solidarité)
local business tax (Taxe professionnelle) or thebut the results excluding church taxes are indicated as comments.
PART II. Taxation of Corporate and Capital Income (1990)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central           Combined
                      government              government      government             corporate      Targeted
                    corporate income       corporate income corporate income           income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4            tax rate 5   tax rates 6

Australia*                  39.0                  39.0                  0.0             39.0            Y
Austria*                    30.0                  30.0                  0.0             30.0            N
Belgium                     41.0                  41.0                  0.0             41.0            Y
Canada                  28.84 (28.0)             28.84                 12.6            41.45            Y
Czech Republic                -                    -                     -                -             -
Denmark                     40.0                  40.0                   -              40.0            N
Finland                     25.0                  n.a.                  n.a.            44.5           n.a.
France*                  42,0 (37,0)              42.0                  0.0             42.0            Y
Germany*                    50,0                  45.5                  9.1             54.5            N
Greece                      46.0                  46.0                  0.0             46.0
Hungary                     40.0                  40.0                  0.0             40.0            Y
Iceland                     n.a.                  n.a.                  n.a.            n.a.           n.a.
Ireland                     43.0                  43.0                  0.0             43.0            Y
Italy*                    52,2 (36)               46.4                  0.0             46.4            N
Japan                       37.5                  n.a.           5.0 / 12.3 / 12.0      50.0            Y
Korea                       n.a.                  n.a.                  n.a.            n.a.           n.a.
Luxembourg                 (34.0)                 n.a.                  n.a.            n.a.           n.a.
Mexico                      36.0                  36.0                  0.0             36.0            Y
Netherlands                 35.0                  35.0                  0.0             35.0            Y
New Zealand*                33.0                  33.0                  0.0             33.0            N
Norway                      29.8                  29.8                 21.0             50.8            Y
Poland                      n.a.                  n.a.                  n.a.            n.a.           n.a.
Portugal                    36.5                  36.5                  3.7             40.2            Y
Slovak Republic               -                    -                     -                -             -
Spain                       35.0                  35.0                  0.0             35.0
Sweden*                     40.0                  40.0                   -              53.0            N
Switzerland*                 9.8                 6.802                 23.80           30.597           N
Turkey                      n.a.                  n.a.                  n.a.            n.a.           n.a.
United Kingdom*             34.0                  34.0                  0.0             34.0            Y
United States*              34.0                  31.6                 7.05            38.65            Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: there was also a business tax of 13,5% (tax rate 4,5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 11,9%. Assuming no adjustments and taking into account
the deductiblity of the bussiness tax from the corporate tax base, corporate profits were taxed at 38,3% at the
companies' level.
PART II. Taxation of Corporate and Capital Income (1989)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central           Combined
                      government              government      government             corporate      Targeted
                    corporate income       corporate income corporate income           income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4            tax rate 5   tax rates 6

Australia*                  39.0                  39.0                  0.0              39.0           Y
Austria*                    30.0                  30.0                  0.0              30.0           N
Belgium                     43.0                  43.0                  0.0              43.0           Y
Canada                  28.84 (28.0)             28.84                 12.5             41.34           Y
Czech Republic                -                    -                     -                -             -
Denmark                     50.0                  50.0                   -               50.0           N
Finland                     33.0                  n.a.                  n.a.             52.5          n.a.
France*                  42,0 (39,0)              42.0                  0.0              42.0           Y
Germany*                    56,0                  50.9                  9.1              60.0           N
Greece                      46.0                  46.0                  0.0              46.0
Hungary                     50.0                  50.0                  0.0              50.0           Y
Iceland                     n.a.                  n.a.                  n.a.             n.a.          n.a.
Ireland                     43.0                  43.0                  0.0              43.0           Y
Italy*                    52,2 (36)               46.4                  0.0              46.4           N
Japan                       40.0                  n.a.           5.0 / 12.3 / 12.0       n.a.           Y
Korea                       n.a.                  n.a.                  n.a.             n.a.          n.a.
Luxembourg                 (34.0)                 n.a.                  n.a.             n.a.          n.a.
Mexico                      37.0                  37.0                  0.0              37.0           Y
Netherlands                 35.0                  35.0                  0.0              35.0           Y
New Zealand*                33.0                  33.0                  0.0              33.0           N
Norway                      29.8                  29.8                 21.0              50.8           Y
Poland                      n.a.                  n.a.                  n.a.             n.a.          n.a.
Portugal                    36.5                  36.5                  3.7              40.2           Y
Slovak Republic               -                    -                     -                -             -
Spain                       35.0                  35.0                  0.0              35.0
Sweden*                     52.0                  52.0                   -               60.1           N
Switzerland*                 9.8                 6.802                 23.80             30.6           N
Turkey                      n.a.                  n.a.                  n.a.             n.a.          n.a.
United Kingdom*             35.0                  35.0                  0.0              35.0           Y
United States*              34.0                  31.6                  7.1              38.7           Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: there was also a business tax of 13,5% (tax rate 4,5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 11,9%. Assuming no adjustments and taking into account
the deductiblity of the bussiness tax from the corporate tax base, corporate profits were taxed at 38,3% at the
companies' level.
PART II. Taxation of Corporate and Capital Income (1988)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central           Combined
                      government              government      government             corporate      Targeted
                    corporate income       corporate income corporate income           income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4            tax rate 5   tax rates 6

Australia*                  39.0                      39.0              0.0             39.0            Y
Austria*                    55.0                      55.0              0.0             55.0            N
Belgium                     43.0                      43.0              0.0             43.0            Y
Canada                  28.84 (28.0)                 28.84             12.5            41.29            Y
Czech Republic                -                        -                 -                -             -
Denmark                     50.0                      50.0               -              50.0            N
Finland                     33.0                      n.a.              n.a.            51.5           n.a.
France*                     42.0                      42.0              0.0             42.0            Y
Germany*                    56,0                      50.9              9.1             60.0            N
Greece                      49.0                      49.0              0.0             49.0
Hungary                     n.a.                      n.a.              n.a.            n.a.           n.a.
Iceland                     n.a.                      n.a.              n.a.            n.a.           n.a.
Ireland                     47.0                      47.0              0.0             47.0            Y
Italy*                   52,2 (36)                    46.4              0.0             46.4            N
Japan                       42.0                      n.a.       5.0 / 12.3 / 12.0      n.a.            Y
Korea                       n.a.                      n.a.              n.a.            n.a.           n.a.
Luxembourg                 (36.0)                     n.a.              n.a.            n.a.           n.a.
Mexico                      39.2                      39.2              0.0             39.2            Y
Netherlands                 42.0                      42.0              0.0             42.0            Y
New Zealand*                28.0                      28.0              0.0             28.0            N
Norway                      29.8                      29.8             21.0             50.8            Y
Poland                      n.a.                      n.a.              n.a.            n.a.           n.a.
Portugal                 45 (37.50)              44.58 (37.50)          3.5            48.08            Y
Slovak Republic               -                        -                 -                -             -
Spain                       35.0                      35.0              0.0             35.0
Sweden*                     52.0                      52.0               -              56.6            N
Switzerland*                 9.8                     6.802             23.79           30.595           N
Turkey                      n.a.                      n.a.              n.a.            n.a.           n.a.
United Kingdom*             35.0                      35.0              0.0             35.0            Y
United States*              34.0                      31.6              7.0             38.6            Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: progressive scale (30-40-50-55%), but half-rate for distributed profits, which did not include the corporate tax
itself. For distributed profits equal to after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
tax-profits. There was also a business tax of 15% (tax rate 5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 13%. Assuming no adjustments and taking into account the
PART II. Taxation of Corporate and Capital Income (1987)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central           Combined
                      government              government      government             corporate      Targeted
                    corporate income       corporate income corporate income           income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4            tax rate 5   tax rates 6

Australia*                  49.0                      49.0              0.0              49.0           Y
Austria*                    55.0                      55.0              0.0              55.0           N
Belgium                     43.0                      43.0              0.0              43.0           Y
Canada                  36.05 (35.0)                 36.05             12.5             48.58           Y
Czech Republic                -                        -                 -                -             -
Denmark                     50.0                      50.0               -               50.0           N
Finland                     33.0                      n.a.              n.a.             51.5          n.a.
France*                     45.0                      45.0              0.0              45.0           Y
Germany*                    56,0                      50.9              9.1              60.0           N
Greece                      49.0                      49.0              0.0              49.0
Hungary                     n.a.                      n.a.              n.a.             n.a.          n.a.
Iceland                     n.a.                      n.a.              n.a.             n.a.          n.a.
Ireland                     50.0                      50.0              0.0              50.0           Y
Italy*                   52,2 (36)                    46.4              0.0              46.4           N
Japan                       42.0                      n.a.       5.0 / 12.3 / 12.0       n.a.           Y
Korea                       n.a.                      n.a.              n.a.             n.a.          n.a.
Luxembourg                 (38.0)                     n.a.              n.a.             n.a.          n.a.
Mexico                      40.6                      40.6              0.0              40.6           Y
Netherlands                 42.0                      42.0              0.0              42.0           N
New Zealand*                48.0                      48.0              0.0              48.0           N
Norway                      29.8                      29.8             21.0              50.8           Y
Poland                      n.a.                      n.a.              n.a.             n.a.          n.a.
Portugal                 45 (37.50)              44.58 (37.50)          3.5             48.08           Y
Slovak Republic               -                        -                 -                -             -
Spain                       35.0                      35.0              0.0              35.0
Sweden*                     52.0                      52.0               -               56.6           N
Switzerland*                 9.8                     6.695             24.99             31.7           N
Turkey                      n.a.                      n.a.              n.a.             n.a.          n.a.
United Kingdom*             35.0                      35.0              0.0              35.0           Y
United States*              40.0                      37.2              7.0              44.2           Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: progressive scale (30-40-50-55%), but half-rate for distributed profits, which did not include the corporate tax
itself. For distributed profits equal to after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
tax-profits. There was also a business tax of 15% (tax rate 5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 13%. Assuming no adjustments and taking into account the
PART II. Taxation of Corporate and Capital Income (1986)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central           Combined
                      government              government      government             corporate      Targeted
                    corporate income       corporate income corporate income           income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4            tax rate 5   tax rates 6

Australia*                 49.0                       49.0              0.0             49.0            Y
Austria*                   55.0                       55.0              0.0             55.0            N
Belgium                    45.0                       45.0              0.0             45.0            Y
Canada                  37.8 (36.0)                   37.8             12.0             49.8            Y
Czech Republic               -                         -                 -                -             -
Denmark                    50.0                       50.0               -              50.0            N
Finland                    33.0                       n.a.              n.a.            51.5           n.a.
France*                    45.0                       45.0              0.0             45.0            Y
Germany*                   56,0                       50.9              9.1             60.0            N
Greece                     49.0                       49.0              0.0             49.0
Hungary                    n.a.                       n.a.              n.a.            n.a.           n.a.
Iceland                    n.a.                       n.a.              n.a.            n.a.           n.a.
Ireland                    50.0                       50.0              0.0             50.0            Y
Italy*                   52,2 (36)                    46.4              0.0             46.4            N
Japan                      43.3                       n.a.       5.0 / 12.3 / 12.0      n.a.            Y
Korea                      n.a.                       n.a.              n.a.            n.a.           n.a.
Luxembourg                (40.0)                      n.a.              n.a.            n.a.           n.a.
Mexico*                    42.0                       42.0              0.0             42.0            Y
Netherlands                42.0                       42.0              0.0             42.0            N
New Zealand*               48.0                       48.0              0.0             48.0            N
Norway                     29.8                       29.8             21.0             50.8            Y
Poland                     n.a.                       n.a.              n.a.            n.a.           n.a.
Portugal               47.20 (40.00)             46.78 (40.00)          3.5            50.28            Y
Slovak Republic              -                         -                 -                -             -
Spain                      35.0                       35.0              0.0             35.0
Sweden*                    52.0                       52.0               -              56.6            N
Switzerland*                9.8                      6.695             24.99           31.684           N
Turkey                     n.a.                       n.a.              n.a.            n.a.           n.a.
United Kingdom*            35.0                       35.0              0.0             35.0            Y
United States*             46.0                       42.7              7.1             49.8            Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: progressive scale (30-40-50-55%), but half-rate for distributed profits, which did not include the corporate tax
itself. For distributed profits equal to after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
tax-profits. There was also a business tax of 15% (tax rate 5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 13%. Assuming no adjustments and taking into account the
PART II. Taxation of Corporate and Capital Income (1985)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central           Combined
                      government              government      government             corporate      Targeted
                    corporate income       corporate income corporate income           income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4            tax rate 5   tax rates 6

Australia*                 46.0                       46.0              0.0             46.0            Y
Austria*                   55.0                       55.0              0.0             55.0            N
Belgium                    45.0                       45.0              0.0             45.0            Y
Canada                  37.8 (36.0)                   37.8             11.6             49.4            Y
Czech Republic               -                         -                 -                -             -
Denmark                    50.0                       50.0               -              50.0            N
Finland                    43.0                       n.a.              n.a.            61.8           n.a.
France*                    50.0                       50.0              0.0             50.0            Y
Germany*                   56,0                       50.9              9.1             60.0            N
Greece                     49.0                       49.0              0.0             49.0
Hungary                    n.a.                       n.a.              n.a.            n.a.           n.a.
Iceland                    n.a.                       n.a.              n.a.            n.a.           n.a.
Ireland                    50.0                       50.0              0.0             50.0            Y
Italy*                   52,2 (36)                    46.4              0.0             46.4            N
Japan                      43.3                       n.a.       5.0 / 12.3 / 12.0      n.a.            Y
Korea                      n.a.                       n.a.              n.a.            n.a.           n.a.
Luxembourg                (40.0)                      n.a.              n.a.            n.a.           n.a.
Mexico*                    42.0                       42.0              0.0             42.0            Y
Netherlands                43.0                       43.0              0.0             43.0            N
New Zealand*               45.0                       45.0              0.0             45.0            N
Norway                     29.8                       29.8             21.0             50.8            Y
Poland                     n.a.                       n.a.              n.a.            n.a.           n.a.
Portugal               51.60 (45.00)             51.12 (45.00)          4.0            55.12            Y
Slovak Republic              -                         -                 -                -             -
Spain                      35.0                       35.0              0.0             35.0
Sweden*                    52.0                       52.0               -              56.6            N
Switzerland*                9.8                      6.677             25.19           31.866           N
Turkey                     n.a.                       n.a.              n.a.            n.a.           n.a.
United Kingdom*            40.0                       40.0              0.0             40.0            Y
United States*             46.0                       42.8              7.0             49.8            Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: progressive scale (30-40-50-55%), but half-rate for distributed profits, which did not include the corporate tax
itself. For distributed profits equal to after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
tax-profits. There was also a business tax of 15% (tax rate 5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 13%. Assuming no adjustments and taking into account the
PART II. Taxation of Corporate and Capital Income (1984)

Table II.1. Corporate income tax rate 1


                         Central           Adjusted central   Sub-central            Combined
                      government             government      government              corporate      Targeted
                    corporate income      corporate income corporate income            income       corporate
Country                 tax rate 2            tax rate 3       tax rate 4             tax rate 5   tax rates 6

Australia*                 46.0                   46.0                  0.0             46.0            Y
Austria*                   55.0                   55.0                  0.0             55.0            N
Belgium                    45.0                   45.0                  0.0             45.0            Y
Canada                  36.0 (36.0)               36.0                 11.6             47.6            Y
Czech Republic               -                     -                     -                -             -
Denmark                    40.0                   40.0                   -              40.0            N
Finland                    43.0                   n.a.                  n.a.            61.8           n.a.
France*                    50.0                   50.0                  0.0             50.0            Y
Germany*                   56,0                   50.9                  9.1             60.0            N
Greece                     45.0                   45.0                  0.0             45.0
Hungary                    n.a.                   n.a.                  n.a.            n.a.           n.a.
Iceland                    n.a.                   n.a.                  n.a.            n.a.           n.a.
Ireland                    50.0                   50.0                  0.0             50.0            Y
Italy*                   52,2 (36)                46.4                  0.0             46.4            N
Japan                      43.3                   n.a.           5.0 / 12.3 / 12.0      n.a.            Y
Korea                      n.a.                   n.a.                  n.a.            n.a.           n.a.
Luxembourg                (40.0)                  n.a.                  n.a.            n.a.           n.a.
Mexico*                    42.0                   42.0                  0.0             42.0            Y
Netherlands                43.0                   43.0                  0.0             43.0            N
New Zealand*               45.0                   45.0                  0.0             45.0            N
Norway                     29.8                   29.8                 21.0             50.8            Y
Poland                     n.a.                   n.a.                  n.a.            n.a.           n.a.
Portugal               51.60 (45.00)         51.12 (45.00)              4.0            55.12            Y
Slovak Republic              -                     -                     -                -             -
Spain                      35.0                   35.0                  0.0             35.0
Sweden*                    52.0                   52.0                   -              56.6            N
Switzerland*                9.8                  6.579                 26.29           32.866           N
Turkey                     n.a.                   n.a.                  n.a.            n.a.           n.a.
United Kingdom*            45.0                   45.0                  0.0             45.0            Y
United States*             46.0                   42.8                  7.0             49.8            Y



Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)

Explanatory notes about the content of the table
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
notes may be found in the Explanatory Annex.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
measured gross of a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate
exclusive of surtax is shown in round brackets ( ).
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the central government provides a deduction in respect of sub-
central income tax.
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
adjusted central government rate plus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
of qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.

* Country-specific footnotes:
Australia: has a non-calendar tax year, the rates shown are those in effect as of 1 July.
Austria: progressive scale (30-40-50-55%), but half-rate for distributed profits, which did not include the corporate tax
itself. For distributed profits equal to after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
tax-profits. There was also a business tax of 15% (tax rate 5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 13%. Assuming no adjustments and taking into account the
PART II. Taxation of Corporate and Capital Income (1983)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central             Combined
                      government              government      government               corporate      Targeted
                    corporate income       corporate income corporate income             income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4              tax rate 5   tax rates 6

Australia*                 46.0                    46.0                  0.0              46.0            Y
Austria*                   55.0                    55.0                  0.0              55.0            N
Belgium                    45.0                    45.0                  0.0              45.0            Y
Canada                  36.9 (36.0)                36.9                 11.4              48.3            Y
Czech Republic               -                      -                     -                 -             -
Denmark                    40.0                    40.0                   -               40.0            N
Finland                    43.0                    n.a.                  n.a.             61.5           n.a.
France*                    50.0                    50.0                  0.0              50.0            Y
Germany*                   56,0                    50.9                  9.1              60.0            N
Greece                     45.0                    45.0                  0.0              45.0
Hungary                    n.a.                    n.a.                  n.a.             n.a.           n.a.
Iceland                    n.a.                    n.a.                  n.a.             n.a.           n.a.
Ireland                    50.0                    50.0                  0.0              50.0            Y
Italy*                   52,2 (36)                 46.4                  0.0              46.4            N
Japan                      42.0                    n.a.           5.0 / 12.3 / 12.0       n.a.            Y
Korea                      n.a.                    n.a.                  n.a.             n.a.           n.a.
Luxembourg                (40.0)                   n.a.                  n.a.             n.a.           n.a.
Mexico*                    42.0                    42.0                  0.0              42.0            Y
Netherlands                48.0                    48.0                  0.0              48.0            Y
New Zealand*               45.0                    45.0                  0.0              45.0            N
Norway                     29.8                    29.8                 21.0              50.8            Y
Poland                     n.a.                    n.a.                  n.a.             n.a.           n.a.
Portugal               51.60 (45.00)          51.12 (45.00)              4.0             55.12            Y
Slovak Republic              -                      -                     -                 -             -
Spain                      33.0                    33.0                  0.0              33.0
Sweden*                    40.0                    27.9                 30.2              58.1            N
Switzerland*                9.8                   6.561                 26.49            33.048 N         N
Turkey                     n.a.                    n.a.                  n.a.             n.a.           n.a.
United Kingdom*            50.0                    50.0                  0.0              50.0            Y
United States*             46.0                    42.7                  7.1              49.8            Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. Thismay be found 'basic' Explanatory Annex.
notes table shows in the (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate, measured
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
gross of a be found (if any) for sub-central tax.
notes may deduction in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
shown in round brackets ( ).
2. This column shows the basic central government statutory (flat or top marginal) corporate income tax rate,
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the tax. Where surtax provides a statutory in respect of sub-central
measured gross of a deduction (if any) for sub-central central governmentapplies, the deduction corporate rate exclusive
of surtax is shown in round brackets ( ).
income tax.
3. This column shows the basic central government statutory corporate and local) statutory corporate income any)),
4. This column shows the basic sub-central (combined state/regional income tax rate (inclusive of surtax (if tax rate,
inclusive of sub-central surtax (if any). rate where the be the representative rate reported in Table II.3. Where a
adjusted (if applicable) to show the netThe rate shouldcentral government provides a deduction in respect of sub -sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
central income tax.
5. This column shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
4. This column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjusted central government rate plus the sub-central rate.
inclusive of sub-central surtax (if any). The rate should be the representative rate (e.g., within Table II.3. Where aspecial
6. This column indicates whether targeted (non-basic) corporate tax rates exist reported targeting through a sub -
statutory corporate tax rate applied sub-central income, or through a special deduction determined brackets ( ).
central surtax applies, the statutory to qualifying corporate rate exclusive of surtax is shown in round as a percentage of
5. This column shows the basic combinedmore information can be (statutory) corporate income tax rate given by the
qualifying income). Where a 'Y' is shown, central and sub-central found in Table II.2.
adjusted central government rate plus the sub-central rate.
Country-specific footnotes:
6. This column indicates whether targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage
July, 1 April and 5 April, respectively.
of qualifying income). Where a 'Y'to income earned in 2005, tocan be found in Table rates include surcharges, but does
(b) These are the rates applying is shown, more information be paid in 2006.The II.2.
not include the local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité).
* Country-specific footnotes:
More information on the surcharges is included as a comment.
Australia: has a non-calendar tax trade tax (Gewerbesteuer)those in effect as of 1 July.
(c) The rates include the regional year, the rates shown are and the surcharge.
(d) The progressive scale (30-40-50-55%), based local business tax.
Austria:rates does not include the turnover but half-rate for distributed profits, which did not include the corporate tax
(e) These rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
itself. For distributed profits equal to after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
explanatory notes for more details.
(f) Source for the information: KPMG's tax of 15% (tax rate Survey.
tax-profits. There was also a business Corporate Tax Rate 5%, multiplier 300%) on adjusted profits. As this tax was
deductible from its own base, the effective rate was about 13%. the Swiss no adjustments and taking into account the
(g) Adjusted central and sub-central tax rates are calculated by Assuming Federal Tax Administration (see 'Quels taux
deductiblity of the bussiness tax from the corporate tax base, corporate profits were taxed at 46% at the companies'
effectifs et nominaux d'imposition des sociétés en Suisse pour le calcul des coins fiscaux. Le procédé de la déduction
fiscale
level. en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
PART II. Taxation of Corporate and Capital Income (1982)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central            Combined
                      government              government      government              corporate      Targeted
                    corporate income       corporate income corporate income            income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4             tax rate 5   tax rates 6

Australia*                 46.0                       46.0               0.0             46.0            Y
Austria*                   55.0                       55.0               0.0             55.0            N
Belgium                    48.0                       48.0               0.0             48.0            Y
Canada                  37.8 (36.0)                   37.8              11.7             49.5            Y
Czech Republic               -                         -                  -                -             -
Denmark                    40.0                       40.0                -              40.0            N
Finland                    43.0                       n.a.               n.a.            61.8           n.a.
France*                    50.0                       50.0               0.0             50.0            Y
Germany*                   56,0                       50.9               9.1             60.0            N
Greece                     45.0                       45.0               0.0             45.0
Hungary                    n.a.                       n.a.               n.a.            n.a.           n.a.
Iceland                    n.a.                       n.a.               n.a.            n.a.           n.a.
Ireland                    50.0                       50.0               0.0             50.0            Y
Italy*                   46,2 (30)                    41.3               0.0             41.3            N
Japan                      42.0                       n.a.        5.0 / 12.3 / 12.0      n.a.            Y
Korea                      n.a.                       n.a.               n.a.            n.a.           n.a.
Luxembourg                (40.0)                      n.a.               n.a.            n.a.           n.a.
Mexico*                    42.0                       42.0               0.0             42.0            Y
Netherlands                48.0                       48.0               0.0             48.0            Y
New Zealand*               45.0                       45.0               0.0             45.0            N
Norway                     29.8                       29.8              21.0             50.8            Y
Poland                     n.a.                       n.a.               n.a.            n.a.           n.a.
Portugal               47.20 (40.00)             46.72 (40.00)           4.0            50.72            Y
Slovak Republic              -                         -                  -                -             -
Spain                      33.0                       33.0               0.0             33.0
Sweden*                    40.0                       28.1              29.7             57.8            N
Switzerland*                9.8                      6.561              26.49           33.048           N
Turkey                     n.a.                       n.a.               n.a.            n.a.           n.a.
United Kingdom*            52.0                       52.0               0.0             52.0            Y
United States*             46.0                       42.8               6.9             49.7            Y

Key to abbreviations:
Key to abbreviations:
n.a.: Data not provided
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
1. This table shows 'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
Explanatory notes about the content of the table
Where a progressive (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
1. This table shows in'basic' (non-targeted) central, sub-central and combined (statutory) corporate income tax rates.
 notes may be found the Explanatory Annex.
 2. This column shows the basic central government statutory (flat the top marginal rate is shown. Further explanatory
Where a progressive (as opposed to flat) rate structure applies, or top marginal) corporate income tax rate, measured
notes may be found in the Explanatory Annex. Where surtax applies, the statutory corporate rate exclusive of surtax is
 gross of a deduction (if any) for sub-central tax.
 shown column brackets ).
2. This in roundshows the( basic central government statutory (flat or top marginal) corporate income tax rate, measured
 3. This a deduction (if the for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of (if any)),
gross of column shows any)basic central government statutory corporate income tax rate (inclusive of surtax surtax is
 adjusted round brackets ).
shown in (if applicable) to( show the net rate where the central government provides a deduction in respect of sub-central
3. This column shows the basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
 income tax.
 4. This (if applicable) the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
adjustedcolumn shows to show the net rate where the central government provides a deduction in respect of sub-central
income tax. sub-central surtax (if any). The rate should be the representative rate reported in Table II.3. Where a sub-
 inclusive of
 central column shows the basic sub-central (combined rate exclusive of surtax shown in round brackets ( tax rate,
4. This surtax applies, the statutory sub-central corporate state/regional and local)isstatutory corporate income).
 5. This of sub-central surtax (if combined central and sub-central (statutory) corporate income tax rate given by the
inclusivecolumn shows the basic any). The rate should be the representative rate reported in Table II.3. Where a sub-
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is shown in round brackets ( ).
 adjusted central government rate plus the sub-central rate.
 6. This column indicates basic combined central and sub-central (statutory) corporate income tax through a by the
5. This column shows thewhether targeted (non-basic) corporate tax rates exist (e.g., with targeting rate given special
 statutory corporate tax rate rate plus qualifying income, or
adjusted central governmentapplied to the sub-central rate. through a special deduction determined as a percentage of
 qualifying income). Where a 'Y' is targeted (non-basic) corporate found in exist II.2.
6. This column indicates whether shown, more information can betax rates Table (e.g., with targeting through a special
statutory corporate tax rate applied to qualifying income, or through a special deduction determined as a percentage of
 Country-specific Where a 'Y'
qualifying income).footnotes: is shown, more information can be found in Table II.2.
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
 July, 1 April and 5 footnotes:
* Country-specific April, respectively.
 (b) These are the rates applying year, the earned in 2005, to be paid in as of 1 July.
Australia: has a non-calendar tax to incomerates shown are those in effect2006.The rates include surcharges, but does
 not include the local business tax (Taxe professionnelle) or distributed based which did not include the de Solidarité).
Austria: progressive scale (30-40-50-55%), but half-rate for the turnoverprofits, solidarity tax (Contribution corporate tax
 More For distributed profits equal is included as a comment.
itself. information on the surchargesto after-tax-profits, the (average and marginal) top CIT rate was 37,9% on before-
 (c) The rates include the regional trade tax (Gewerbesteuer) and the surcharge.
tax-profits. There was also a business tax of 15% (tax rate 5%, multiplier 300%) on adjusted profits. As this tax was
 (d) The rates does not include the turnover based local business tax.
 (e) These rates do not include effective rate was about 13%. Assuming no adjustments and Produttive; IRAP). See
deductible from its own base, thethe regional business tax (Imposta Regionale sulle Attività taking into account the
 explanatory notes bussiness tax from
deductiblity of the for more details. the corporate tax base, corporate profits were taxed at 46% at the companies'
level.
 (f) Source for the information: KPMG's Corporate Tax Rate Survey.
 (g) Adjusted are the rates applying tax rates earned in 1982, the liquidated in Tax The rates do (see 'Quels taux
France: thesecentral and sub-central to incomeare calculated byto beSwiss Federal1983.Administrationnot include the
 effectifs et nominaux d'imposition des sociétés en Suisse pour le calcul tax coins fiscaux. Le procédé
local business tax (Taxe professionnelle) or the turnover based solidarity des (Contribution de Solidarité)de la déduction
fiscale en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as comments.
PART II. Taxation of Corporate and Capital Income (1981)

Table II.1. Corporate income tax rate 1


                         Central            Adjusted central   Sub-central            Combined
                      government              government      government              corporate      Targeted
                    corporate income       corporate income corporate income            income       corporate
Country                 tax rate 2             tax rate 3       tax rate 4             tax rate 5   tax rates 6

Australia*                 46.0                    46.0                   0.0             46.0           Y
Austria*                   55.0                    55.0                   0.0             55.0           N
Belgium                    48.0                    48.0                   0.0             48.0           Y
Canada                  37.8 (36.0)                37.8                  13.1             50.9           Y
Czech Republic               -                      -                      -               -             -
Denmark                    40.0                    40.0                    -              40.0           N
Finland                    43.0                    n.a.                  n.a.             61.5          n.a.
France*                    50.0                    50.0                   0.0             50.0           Y
Germany*                   56,0                    50.9                   9.1             60.0           N
Greece                     45.0                    45.0                   0.0             45.0
Hungary                    n.a.                    n.a.                  n.a.             n.a.          n.a.
Iceland                    n.a.                    n.a.                  n.a.             n.a.          n.a.
Ireland                    45.0                    45.0                   0.0             45.0           Y
Italy*                    40 (25)                  36.3                   0.0             36.3           N
Japan                      42.0                    n.a.           5.0 / 12.3 / 12.0       n.a.           Y
Korea                      n.a.                    n.a.                  n.a.             n.a.          n.a.
Luxembourg                (40.0)                   n.a.                  n.a.             n.a.          n.a.
Mexico*                    42.0                    42.0                   0.0             42.0           Y
Netherlands                48.0                    48.0                   0.0             48.0           Y
New Zealand*               45.0                    45.0                   0.0             45.0           N
Norway                     29.8                    29.8                  21.0             50.8           Y
Poland                     n.a.                    n.a.                  n.a.             n.a.          n.a.
Portugal               47.20 (40.00)          46.96 (40.00)               2.0            48.96           Y
Slovak Republic              -                      -                      -               -             -
Spain                      33.0                    33.0                   0.0             33.0
Sweden*                    40.0                    28.2                  29.6             57.8           N
Switzerland*                9.8                   6.561                 26.49             33.0           N
Turkey                     n.a.                    n.a.                  n.a.             n.a.          n.a.
United Kingdom*            52.0                    52.0                   0.0             52.0           Y
United States*             46.0                    42.8                   6.9             49.7           Y

Key to abbreviations:
n.a.: Data not provided
*: Country specific footnotes (see list below)
Explanatory notes:
Explanatory shows 'basic' (non-targeted) central,
1. This table notes about the content of the table sub-central and combined (statutory) corporate income tax rates.
1. This table shows (as opposed to flat) central, sub-central and top marginal rate is shown. Further explanatory
Where a progressive 'basic' (non-targeted)rate structure applies, thecombined (statutory) corporate income tax rates.
Where a progressive the Explanatory Annex.
notes may be found in (as opposed to flat) rate structure applies, the top marginal rate is shown. Further explanatory
2. This column shows the basic central Annex.
notes may be found in the Explanatory government statutory (flat or top marginal) corporate income tax rate, measured
2. This column shows the basic central government statutory applies, the statutory corporate rate exclusive measured
gross of a deduction (if any) for sub-central tax. Where surtax(flat or top marginal) corporate income tax rate,of surtax is
gross in round brackets ( ).
shownof a deduction (if any) for sub-central tax. Where surtax applies, the statutory corporate rate exclusive of surtax is
shown column shows the
3. This in round brackets ( ).basic central government statutory corporate income tax rate (inclusive of surtax (if any)),
adjusted (if applicable) to show the net rate where the statutory corporate income taxdeduction in respect of sub-central
3. This column shows the basic central government central government provides a rate (inclusive of surtax (if any)),
adjusted (if
income tax. applicable) to show the net rate where the central government provides a deduction in respect of sub-central
income column shows the basic sub-central (combined state/regional and local) statutory corporate income tax rate,
4. This tax.
4. This column shows surtax (if sub-central (combined state/regional and local) reported corporate income tax sub-
inclusive of sub-central the basic any). The rate should be the representative rate statutory in Table II.3. Where a rate,
4. This column shows surtax (if sub-central (combined state/regional and local) reported corporate income tax sub-
inclusive of sub-central the basic any). The rate should be the representative rate statutory in Table II.3. Where a rate,
inclusive of sub-central surtax (if any). The rate should be the representative rate shown in round brackets ( ).
central surtax applies, the statutory sub-central corporate rate exclusive of surtax is reported in Table II.3. Where a sub-
central column shows the basic combined central and rate exclusive of surtax is shown in round brackets ( ).
5. This surtax applies, the statutory sub-central corporatesub-central (statutory) corporate income tax rate given by the
adjusted central shows the basic combined central and sub-central (statutory) corporate income tax rate given by the
5. This column government rate plus the sub-central rate.
adjusted central government rate targeted (non-basic) corporate tax rates exist (e.g., with targeting through a special
6. This column indicates whetherplus the sub-central rate.
6. This column indicates whether targeted (non-basic) corporate tax special deduction determined as a percentage of
statutory corporate tax rate applied to qualifying income, or through a rates exist (e.g., with targeting through a special
qualifyingcorporate Where aapplied to qualifying income, orcan be found in Table II.2.
statutory income). tax rate 'Y' is shown, more information through a special deduction determined as a percentage of
qualifying income). Where a 'Y' is shown, more information can be found in Table II.2.
Country-specific footnotes:
* Country-specific footnotes:
(a) For Australia, New Zealand and the UK, all with a non-calendar tax year, the rates shown are those in effect as of 1
July, 1 April and 5 April, respectively. the rates shown are those in effect as of 1 July.
Australia: has a non-calendar tax year,
(b) These are the rates applying to income earned in 2005, to be paid in 2006.The rates include surcharges, but does
Austria: progressive scale (30-40-50-55%), but half-rate for distributed profits, which did not include the corporate tax
not includedistributedbusiness tax (Taxe professionnelle) or the turnovermarginal) top CITtax (Contribution on before-tax-
itself. For the local profits equal to after-tax-profits, the (average and based solidarity rate was 37,9% de Solidarité).
More informationwas the surcharges is included as a comment. multiplier 300%) on adjusted profits. As this tax was
profits. There on also a business tax of 15% (tax rate 5%,
deductible from its own regional effective rate was about 13%. Assuming no
(c) The rates include thebase, thetrade tax (Gewerbesteuer) and the surcharge.adjustments and taking into account the
(d) The rates does bussiness tax from the corporate tax base, corporate profits were taxed at 46% at the companies'
deductiblity of the not include the turnover based local business tax.
(e) These rates do not include the regional business tax (Imposta Regionale sulle Attività Produttive; IRAP). See
level.
explanatory notes for more details.
France: these are the rates applying to income earned in 1981, to be liquidated in 1982. The rates do not include the
(f) Source for the information: KPMG's Corporate Tax Rate Survey.
local business tax (Taxe professionnelle) or the turnover based solidarity tax (Contribution de Solidarité)
(g) Adjusted central include the regional trade tax (Gewerbesteuer) and the Federal Tax Administration (see 'Quels taux
Germany: the rates and sub-central tax rates are calculated by the Swiss surcharge.
effectifs et nominaux d'imposition income tax (Imposta Locale sui Redditi; ILOR), deductibleLe procédé de la déduction
Italy: these rates include the local des sociétés en Suisse pour le calcul des coins fiscaux. from IRPEG.
Mexico: from 1980 to 1986, corporations paid but tax according to a tax table taxes are between as comments.
fiscale en Suisse'). Church taxes are included, theirthe results excluding church with rates indicated 5 and 42%.
(h) The sub-centralarate is a weightedyear, the rates shown are those in effect as of 1 rate. See explanatory notes for
New Zealand: has non-calendar tax average state corporate marginal income tax April.
more details. sub-central government income tax rate is deductible against the central government corporate income
Sweden: the
tax. The rules are independent of the size of the company.
Switzerland: adjusted central and sub-central tax rates are calculated by the Swiss Federal Tax Administration (see
'Quels taux effectifs et nominaux d'imposition des sociétés en Suisse pour le calcul des coins fiscaux. Le procédé de la
déduction fiscale en Suisse'). Church taxes are included, but the results excluding church taxes are indicated as
comments.
United Kingdom: has a non-calendar tax year, the rates shown are those in effect as of 5 April.
United States: the sub-central rate is a weighted average state corporate marginal income tax rate. See explanatory
notes for more details.

								
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