While officially an unincorporated territory of the US, Puerto Rico is in charge of its own tax regulation. The corporate tax rate in Puerto Rico is 39%. We’ll kick off our list with the highest corporate tax rate countries in the world. In this article, we’ll find out which countries have the highest taxes for people and businesses. However, taxes are inevitable in most parts of the world. There are a few countries with 0% tax rates. They eat up budgets, they decrease profits, and there is no way to move around them. High tax rates are a burden for households and businesses. The exact percentage depends on the country where the business is located.ĭid you know that those who earn over $372,950 have an average personal tax rate of 35% and that an average corporation pays the same percentage in taxes? In order to find out more about personal and corporate taxes in different parts of the world, in this article, we’ll discuss income tax rates by country. Non-residents pay taxes on earnings from sources in the country, while residents pay taxes on profits from sources in the country, as well as on the segment of their income.Ĭorporate tax is what businesses have to deal with corporations are taxed based on the profits made during the financial year. Taxpayers from this group can be further separated into resident and non-resident varieties. Personal tax is the tax that an individual pays on income that is generated from salary, rent, and interest. You can see personal and corporate tax rates for every country on Earth. With so many tax rates around the world, we couldn’t help ourselves creating a global map that explains it all in a single image. What precisely are corporate and personal income taxes?Īnd what is the income tax rate by country?Įnjoy our map and discover the numbers yourself: This Map Shows the Income Tax Rate by Country
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