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Minimum corporate income tax of EUR 1,750 for limited liability company
Austria 25% 0% 25%
and EUR 3,500 for joint stock company.
Rate for resident companies is 22%, rate for manufacturing and IFSC
Botswana 22% 0% 30%
companies is 15%. No branch tax, but branches taxed at rate of 30%.
Taxpayers with losses pay minimum tax of 0.5% of turnover (reduced for
Burkina Faso 27.5% 0% 27.5%
financial institutions and insurance and petroleum companies).
Profits from oil or natural gas PSAs and exploitation of natural resources
Cambodia 20% 0% 20%
taxed at 30% rate.
Cameroon 30% 0% 30% 10% surcharge also applies, bringing rate to 33%.
Federal rate is 15%. Provincial general corporate income tax rates range
Canada 15% 11%-16% 15%/25%
from 11% to 16%. Branch profits tax of 25% also levied.
Rate is 5% for basic investment funds and 0% for pension funds (with
Czech Republic 19% 0% 19%
certain exemptions).
Jurisdiction National rate Local rate Branch rate Notes
Denmark 22% 0% 22% Rate reduced from 23.5% on 1 January 2016.
1% asset tax also applies. Profits remitted by branch to head office also
Dominican Republic 27% 0% 27%/10%
subject to 10% branch tax.
35% rate applies to oil and mining sectors, 25% rate applies to certain
other sectors. Minimum tax (except for first two tax years of newly
Gabon 30% 0% 30%/15% incorporated companies) is 1% of global gross turnover. Branch
remittance tax of 15% (10% where a tax treaty applies) also applies on
net profits realized.
Standard rate for companies is 25%; 22% rate applies to hotels and 35%
Ghana 25% 0% 25%/8% rate applies to mining/petroleum companies. 8% tax imposed on
repatriated profits of branches of nonresidents operating in Ghana.
Guinea Conakry 35% 0% 35% Minimum tax of 3% of turnover required in event of losses.
10% rate applies to tax base up to HUF 500 million, 19% rate applies to
Hungary 10%/19% 0%-2% 10%/19%
tax base exceeding this amount.
Rate is 30% for domestic companies and 40% for foreign companies and
branches of foreign companies. 7% surcharge applies to domestic
companies (2% for foreign companies) if income exceeds INR 10 million,
India 30% 0% 40%
and 12% surcharge applies to domestic companies (5% for foreign
companies) if income exceeds INR 100 million. Additional 3% cess
payable in all cases. Minimum alternate tax imposed in certain cases.
35% rate applies to companies operating in oil and gas sector. 15% rate
Iraq 15% 0% 15%
applies to all industries in Kurdistan region.
Corporate tax rate reduced from 26.5% as from 1 January 2016. Special
rates apply to companies classified as preferred, approved or benefited
Israel 25% 0% 25%/15%
enterprises. Branches of approved enterprises may be subject to
additional 15% tax.
PEs operating in Latvia for no more than 12 months may use simplified
Latvia 15% 0% 15%
tax regime, under which tax is imposed on 20% of turnover.
Lebanon 15% 0% 15%/10% Branches subject to 15% corporate rate, plus 10% tax on branch profits.
Jurisdiction National rate Local rate Branch rate Notes
Rate is 10% on certain manufacturing and farming income. Branch
Lesotho 25% 0% 25%/25% profits tax of 25% also levied on profits remitted to nonresident head
office.
Liechtenstein 12.5% 0% 12.5% Minimum tax of CHF 1,200 applies (except for small businesses).
Corporate tax rate reduced from 25% as from year of assessment 2016.
Resident SME companies (i.e. certain companies capitalized at MYR 2.5
Malaysia 24% 0% 24% million or less) taxed at 19% on first MYR 500,000, with balance taxed at
24%. Labuan companies carrying on Labuan business activity may elect
to pay MYR 20,000 or be taxed at 3% of audited accounting profit.
Montenegro 9% 0% 9%
Rates ranging from 35% to 55% apply to mining income. Rate for
Namibia 32% 0% 32%
registered manufacturers is 18% for first 10 years.
Nauru 0% 0% 0% No income tax.
Rate reduced from 27% as from fiscal year ending in 2016. Special rules
Norway 25% 0% 25%
apply to petroleum companies.
Profits remitted to head office subject to 15% withholding tax, plus 10%
Paraguay 10% 0% 10%/15%
corporate tax and additional 5% income tax on dividend distributions.
Qatar 10% 0% 10% Oil and gas operations subject to 35% rate.
Specific tax rates (minimum of 20%) may apply to new listed companies
Rwanda 30% 0% 30%
on capital market.
75% of first SGD 10,000 of chargeable income and 50% of next SGD
Singapore 17% 0% 17%
290,000 of chargeable income exempt.
Standard rate is 17%, but 0% rate applies for certain funds, pension
Slovenia 17% 0% 17%
insurance undertakings and venture capital companies.
Rate is 30% for resident companies and 35% for nonresident companies
Solomon Islands 30% 0% 35% or branches of nonresident companies. Minimum tax of 0.5% of turnover
not exceeding SBD 20,000 imposed.
Rate is 10% for small businesses, 15% for medium-size businesses and
South Sudan 10%/15%/20% 0% 10%/15%/20%
20% for large businesses.
St. Kitts & Nevis 33% 0% 33%/10% Remittances by branch to head office also subject to 10% tax.
Rates are progressive from 10% to 28%, with specific rates for certain
Syria 28% 4%-10% 28% types of businesses. Local administrative tax ranging from 4% to 10%
also applies.
Thailand 20% 0% 20%/10% Lower rate applies to certain banks. Branch tax of 10% also levied.
Income tax decrees currently enforced on oil and gas companies and
United Arab Emirates 0% 0% 0% branches of foreign banks. Oil and gas companies subject to rates of
50%/55%, depending on Emirate.
15% rate applies to banks. Micro firms and small enterprises pay unified
Uzbekistan 7.5% 0% 7.5%/10% tax at rate of 6% of revenue. Other rates apply to certain industries
Remittances by branch to head office subject to additional 10% tax.
50% rate applies to mobile phone services providers and 35% rate
applies to international telecommunications services providers, cigarette
manufacturers and importers. Small firms subject to progressive rates
Yemen 20% 0% 20% from 10% to 20% (depending on type of activities), and micro entities
exempt from tax. Concession companies engaged in exploitation of oil
and gas required to pay fixed tax, normally 3% on expenditure during
exploration phase as per relevant PSA.
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