I find this article interesting and informative. Credit is for 24/7 Wall St.
Many of the world’s industrialized countries have scrambled to cut their corporate tax rates to stay competitive in the face of the economic crisis. The United States is not among them. Recently, the U.S. became the industrialized nation with the highest statutory corporate tax rate.
The U.S. is not the only country with an above-average corporate tax rate. Among the 34 OECD countries, eight currently have corporate tax rates that exceed the group’s weighted average of 29.3%. 24/7 Wall St. has reviewed the tax rates of these countries and examined any recent changes countries may have made.
All of the countries with the highest corporate tax rates have particularly large gross domestic products, with six of the eight among the top 10 GDPs in the Organisation for Economic Co-operation and Development. Of course, this suggests that larger countries are relatively confident in their ability to…
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