I’ve made the point before that the United States foolishly imposes the highest corporate tax rate of all developed nations.
But that obviously means it is theoretically possible for there to be a nation in the developing world that has a higher corporate tax rates.
Well, according to this map produced by the Financial Times, there is one nation with a worse corporate tax regime.
It’s not China, which is nominally still a communist nation (though apparently with more of a pro-business mentality than the United States).
It’s not Venezuela or Argentina, corrupt and thuggish Latin American nations. And it’s not Zimbabwe, a statist kleptocracy in Africa.
The one nation in the world which is worse than the United States is the United Arab Emirates, with a corporate rate of 55 percent.
There’s no data on revenues collected by this onerous levy, but I’m going to make a sight-unseen prediction – based on Laffer Curve insights – that the UAE’s corporate income tax raises almost no money from the non-petroleum sector of the economy.
P.S. If the OECD succeeds in undermining corporate tax competition with its “BEPS” initiative, I expect we’ll see many nations raising corporate tax rates.
[…] we don’t need giant steps. Yes, a flat tax would be great, but even incremental reforms such as a lower corporate tax rate or the right tax treatment of business investment would yield big […]
[…] we don’t need giant steps. Yes, a flat tax would be great, but even incremental reforms such as a lower corporate tax rate or the right tax treatment of business investment would yield big […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] de 2017, os EUA possuíam a maior alíquota de IRPJ em todo o mundo desenvolvido: 35%. Esta alíquota superava a da China e até mesmo a da Venezuela. [A do Brasil está hoje em […]
[…] de 2017, os EUA possuíam a maior alíquota de IRPJ em todo o mundo desenvolvido: 35%. Esta alíquota superava a da China e até mesmo a da Venezuela. [A do Brasil está […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] Antes de 2017, EE. UU. tenía el impuesto corporativo más alto del mundo desarrollado (si no del mundo entero). Con un tramo superior del 35 por ciento, su tasa impositiva corporativa era más alta que la de […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] corporate taxes.Prior to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, its corporate tax rate was higher than Communist China and […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, it’s corporate tax rate was higher than Communist China […]
[…] to 2017, the US had the highest corporate tax in the developed world (if not the whole world). With a top bracket of 35 percent, it’s corporate tax rate was higher than Communist China and […]
[…] latter was important because the United States, with a 35 percent corporate rate, had the highest tax burden on businesses among developed […]
[…] has the highest corporate tax rate among developed nations. And the U.S. may even have the highest corporate rate in the entire world depending on how certain severance taxes in developing nations are […]
[…] Especially since the United States is falling behind the rest of the world. America now has the highest corporate tax rate in the developed world and arguably may have the highest rate in the entire world. […]
[…] that America has the highest corporate tax rate in the developed world, and perhaps the entire world? That’s certainly a persuasive reason for a lower […]
[…] anti-competitive corporate tax rate, which is the highest in the developed world (if not the entire world) and creates big disadvantages for American workers and […]
[…] anti-competitive corporate tax rate, which is the highest in the developed world (if not the entire world) and creates big disadvantages for American workers and […]
[…] anti-competitive corporate tax rate, which is the highest in the developed world (if not the entire world) and creates big disadvantages for American workers and […]
[…] attention to this research. We already have the highest corporate tax rate in the developed world (arguably the entire world depending on how some severance taxes in poor nations are counted), and we magnify the damage with […]
[…] it might even be the highest in the entire […]
[…] it might even be the highest in the entire […]
[…] we don’t need giant steps. Yes, a flat tax would be great, but even incremental reforms such as a lower corporate tax rate or the right tax treatment of business investment would yield big […]
[…] we don’t need giant steps. Yes, a flat tax would be great, but even incremental reforms such as a lower corporate tax rate or the right tax treatment of business investment would yield big […]
[…] need giant steps. Yes, a flat tax would be great, but even incremental reforms such as a lower corporate tax rate or the right tax treatment of business investment would yield big […]
[…] clearly the case with the corporate tax. The United States has the second-highest corporate tax rate in the entire […]
[…] clearly the case with the corporate tax. The United States has the second-highest corporate tax rate in the entire […]
[…] it is because the American corporate tax rate is now the highest in the developed world (and the second highest in the entire world), so companies naturally would prefer to reduce their tax burdens by declaring income elsewhere. So […]
[…] definitely have the highest corporate tax rate in the developed world, and we may have the highest corporate tax rate in the entire world depending on how one chooses to classify the tax regime in an obscure oil […]
[…] definitely have the highest corporate tax rate in the developed world, and we may have the highest corporate tax rate in the entire world depending on how one chooses to classify the tax regime in an obscure oil […]
[…] if you look at all the world’s countries, our status is still very dismal. According to the the Economist, we have the second highest corporate tax rate, exceeded only by the United Arab […]
[…] if you look at all the world’s countries, our status is still very dismal. According to the the Economist, we have the second highest corporate tax rate, exceeded only by the United Arab […]
Thirty-one countries have a higher tax burden than US including Poland, Spain, Slovak Republic, Turkey, Canada, New Zealand, etc.
http://tv.msnbc.com/2013/04/09/usa-is-the-worlds-biggest-tax-haven-which-the-gop-should-remember-while-it-honors-thatcher/
Thirty-one countries have a higher tax burden than US including Botswana.
http://tv.msnbc.com/2013/04/09/usa-is-the-worlds-biggest-tax-haven-which-the-gop-should-remember-while-it-honors-thatcher/
[…] it is because the American corporate tax rate is now the highest in the developed world (and the second highest in the entire world), so companies naturally would prefer to reduce their tax burdens by declaring income elsewhere. So […]
[…] it is because the American corporate tax rate is now the highest in the developed world (and the second highest in the entire world), so companies naturally would prefer to reduce their tax burdens by declaring income elsewhere. So […]
[…] https://danieljmitchell.wordpress.com/2013/04/30/can-you-name-the-one-nation-in-the-world-with-a-high… […]
Our largest corporations pay nowhere near the top marginal rate: Exxon [2%], Apple [11%], IBM [1%], GE [5%]. Google’s tax rate is also low, and Facebook even got a tax rebate for issuing employee stock options prior to going public.
Big corporations have the money to spend for tax specialists and lobbyists to avoid taxes. High tax rates force capitalists to become crony capitalists to survive.
The full weight of these high marginal rates does hit unshielded smaller companies that would otherwise put untaxed earnings back into jobs and growth.