The article discusses the decline in corporate tax rates globally, dropping from over 40% in 1980 to an anticipated 23.51% in 2024, with the U.S. now at 21%. A notable agreement among 140 countries to implement a 15% global minimum tax reflects efforts to standardize rates. However, significant disparities remain, with Comoros facing the highest rate at 50%, potentially stifling economic activity. Countries like Argentina and Cuba, maintaining high rates, also see economic sluggishness and increased incidences of tax evasion.
The global average corporate tax rate was over 40% in 1980, now lowered to 23.51% in 2024, showcasing significant reductions in corporate taxes globally.
Over 140 countries have agreed to a 15% global minimum tax, reflecting a substantial collaboration amongst nations to standardize corporate tax rates.
Comoros has the highest corporate tax rate globally at 50%, deterring investment and fostering black market economic activity.
Many countries with high corporate tax rates, like Argentina and Chad, experience slower economic growth and increased tax evasion.
Collection
[
|
...
]