World Corporate income tax rates.

ARE U.S. CORPORATIONS UNDER TAXED?

DO WE WANT MORE CORPORATIONS TO LOCATE IN THE U.S.?

Below is a list of the Corporate income tax rates across the world. We often hear that we have the highest corporate income tax rate in the world. It is true! Is it any wonder that corporations are leaving the United States and placing their headquarters in other parts of the world? Many who move are no longer U.S corporations and pay no tax in the United states. In 2015 Corporate tax collections in the U.S. were $341. Billion, this is 11% of federal taxes collected. There is an estimated $3 Trillion in corporate profits made by overseas subsidiaries that will not be brought into the country because of excessive taxation. Looking at these rates we see that the former Communist countries in eastern Europe  have some of the lowest tax rates. Is this because they have learned by experience what many have attempted to get across to policy makers in the U.S., higher taxes, do not end in higher receipts. If we want America to be a growing dynamic economy, we need to entice business to stay here and relocate here, bringing good jobs, that in the end will bring in more tax revenues. If we really want to increase real, high paying jobs we need to make America an enticing place to do business. Lower taxes, reasonable regulations, a cooperative attitude by the government and regulators, not an adversarial relationship that we have now. Remember, government cannot create real wealth producing  jobs, but they can create the environment for business to create jobs.

Location	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016
Afghanistan	0	20	20	20	20	20	20	20	20	20	20
The corporate tax rate is 20%. Generally, two types of taxes are payable by corporate entities. The corporate income tax rate is 20% and is applied to the taxable income. Whereas the business receipt tax (ranging from 2% to 10%) is applied to the gross revenue. Qualifying extractive industries (mines and hydrocarbons) are exempt from the business receipt tax. Taxable income is determined by deducting all business-related tax deductible expenses from gross revenue. The tax deductible expenses also include dividends paid by the corporation and business receipt tax. Expenses which are subject to withholding tax are not tax deductible if the taxpayer fails to withhold withholding tax and to pay it to the tax authorities. Under a tax incentive scheme, so-called approved enterprises (that is, enterprises registered with the Afghanistan Investment Support Agency according to the Investment Law) are eligible for accelerated depreciation (four years for buildings and two years for other assets) and full carry forward losses.
Albania	20	20	10	10	10	10	10	10	15	15	15
The corporate tax rate is 15%. The corporate income tax rate is applied to the taxable profit of the fiscal year (1 January to 31 December). Taxable profit is defined as gross income generated minus related tax deductible expenses. There are certain expenses that are not deductible for tax purposes, such as business expenses unsupported by a regular invoice, interest accrued up to a certain limit, interest paid on loans and pre-payments which exceed four times the amount of net equity during the period, representation expenses over a certain limit and cost of fringe benefits. Setting up reserves does not lead to tax deductible expenses, except for banks and insurance companies. Dividends derived by qualifying companies are tax exempt.
Algeria								25	19	23	26
N/A
Angola	35	35	35	35	35	35	35	35	35	30	30
N/A
Argentina	35	35	35	35	35	35	35	35	35	35	35
The corporate tax rate is 35%. A minimum income tax at a rate of 1% is applied to the tax value of the company´s assets (liabilities cannot be deducted). Some assets, such as stocks, shares in other entities that are subject to taxation, and assets of mining companies are exempt from minimum income tax. The acquisition of new goods, except for automobiles, as well as the investment in newly constructed or refurbished buildings (for the first two years) are also excluded from minimum income tax. The minimum income tax only applies to the extent it exceeds the (regular) income tax calculated as a % of the taxable income. The minimum income tax paid in any given year reduces the (regular) income tax of subsequent years (maximum carry forward of 10 years).
Armenia	20	20	20	20	20	20	20	20	20	20	20
N/A
Aruba	35	28	28	28	28	28	28	28	28	28	25
N/A
Australia	30	30	30	30	30	30	30	30	30	30	30
The corporate tax rate is 30%. The corporate income tax rate applies to both resident and non-resident companies. A resident company is liable to corporate income tax on its worldwide income and capital gains. A non-resident company is liable to corporate income tax on its Australian-source income only, and on capital gains from the disposal of an asset that is taxable Australian real property (TARP). Broadly, TARP will include Australian real property and certain indirect interests in Australian real property. The Australian tax system provides taxation relief against international double taxation by granting foreign tax offsets in some circumstances and in others, by exempting the foreign income from Australian tax. The corporate income tax rate applies to income earned during the period from 1 July to 30 June of the following year. If a company has approval to use a different year-end for tax purposes, the approved period must still relate to a 30 June year-end (that is, the year ended 31 December 2013 in lieu of 30 June 2014).
Austria	25	25	25	25	25	25	25	25	25	25	25
The corporate tax rate is 25%. There are no trade income or net worth taxes. Austrian corporations may benefit from the participation exemption and the group taxation (including cross-border loss utilization and goodwill depreciation for the acquisition of qualifying Austrian subsidiaries).
Bahamas	0	0	0	0	0	0	0	0	0	0	0
The corporate tax rate is 0%. No taxes based on corporate earnings are assessed in The Bahamas. Most businesses are taxed on their gross turnover. Effective 1 July 2015 the general rate of the business License tax range from $100 for a small business with turnover less than $50,000 up to 1.5% for a business with turnover exceeding $50 million. Local banks which have been designated as authorized dealers by the Central bank of The Bahamas are taxed at 3% of turnover and registered insurers are taxed at 3% of gross premiums.
Bahrain	0	0	0	0	0	0	0	0	0	0	0
The corporate tax rate is 0%. Bahrain is an income tax-free country; there is no corporate or personal income tax in Bahrain (except for certain oil related activities). Accordingly, all profits, dividends, or any other income is tax free. Bahrain taxes oil and gas companies in the drilling and exploration sector at a rate of 46%. There are no exchange control regulations and accordingly there is no restriction on repatriation of capital, profits, royalties, or wages.
Bangladesh	30	30	30	27.5	27.5	27.5	27.5	27.5	27.5	27.5	25
In general, the corporation tax rate is 25% for listed companies and is 35% for unlisted public and private limited companies. For Banks, insurance and other financial institutions, the corporation tax rate is 40% if listed and 42.5% if not listed. However for merchant bank the corporation tax rate is 37.5%. For tobacco manufacturers, the corporation tax rate is 45%. For mobile operators - 45% (if not listed) and 40% (if listed). Listed is meant if the company listed in the stock markets in Bangladesh.
Barbados	25	25	25	25	25	25	25	25	25	25	25
The corporate tax rate is 25%. The corporate income tax rate may be reduced, on a sliding scale to a minimum of 1.75%, by a foreign currency tax allowance granted for certain qualifying foreign currency earnings generating activities. Special rates apply for small business, manufacturing, or certain insurance business activities. An international financial service center tax regime provides for exemption from tax for certain insurance companies, a 1.75% rate for qualifying insurance companies and a variable rate of 0.25% to 2.5% for other qualifying international business activities.
Belarus	24	24	24	24	24	24	18	18	18	18	18
The standard corporate tax rate is 18% (effective 1 Jan 2012). Effective from 01/01/2015 the tax rate for banks and insurance organizations is 25%. Reduced rates are 12% (for dividends); 10% (for residents of science and technology parks; for the sales of self- produced high-tech goods); 9% (for residents of free economic zones); 5% (for members of Science and Technology Association established by the State University).
Belgium	33.99	33.99	33.99	33.99	33.99	33.99	33.99	33.99	33.99	33.99	33.99
The corporate tax rate in Belgium: 33.99%. A lower (progressive) tax rate may apply to companies that are more than 50% owned by individuals. All companies subject to resident or non-resident corporate tax benefit from the risk capital or ´ notional interest´ deduction that is computed on the companies ´ adjusted´ equity capital (including retained earnings). The deduction equals 1,131% (1,631 % for small companies) for fiscal year 2017 (taxable years starting 1 January 2016 or later). The notional interest deduction reduces the effective tax rate to an average range from 24% to 27% (or lower depending on the equity capital).
Bermuda	0	0	0	0	0	0	0	0	0	0	0
The corporate tax rate is 0%. There are no notes for 2016.
Bolivia					25	25	25	25	25	25	25
The corporate tax rate is 25%. The Bolivian corporate income tax is based on the territoriality principle, whereby tax is due only on business income derived from activities performed, property situated, or economic rights used in Bolivia, regardless of the nationality, domicile or residence of those who take part in the operations. Accordingly, business income realized through operating companies outside Bolivia is not taken into account for Bolivian tax purposes nor are losses pertaining to such companies.
Bonaire, Saint Eustatius and Saba							0	0	0	0	0
The profit tax regime in the BES islands (Bonaire, St Eustatius and Saba) has been abolished as per 2011. According to the Tax Act BES the basic rule is that all companies established in the BES Islands are deemed to be established in the Netherlands and therefore subject to Dutch corporate income tax and dividend withholding tax. Consequently, such companies will be subject to Dutch corporate income tax levied at a rate of 20% on profits up to EUR 200,000 and a rate of 25% for profits exceeding that amount. The dividend withholding tax rate is 15%. However, certain qualifying companies can elect to be subject to the BES islands property tax and distribution tax instead of being subject to the Dutch corporate income tax and Dutch dividend withholding tax. Instead, a property tax rate of 15% (tax rate for hotels: 5%) levied on 4% of the value of a companys real estate located in the BES islands and a distribution tax rate of 5% (levied on proceeds derived from shares in companies established in the BES islands) apply.
Bosnia and Herzegovina	10	10	10	10	10	10	10	10	10	10	10
The corporate tax rate is 10%. Bosnia and Herzegovina consists of two separately administered territorial entities: the Federation of Bosnia and Herzegovina (FBiH) and the Republic of Srpska (RS) with different corporate profit tax laws and regulations. In case of RS, effective date is 01/01/2002. In the FBiH taxable profit is the accounting profit adjusted for non-deductible and non-taxable items in accordance with the provisions of the FBiH CPT legislation. In the RS the taxable base is determined as the difference between taxable revenues and tax-deductible expenditures as determined in accordance with the RS CPT legislation. Tax losses can be carried forward for a period of 5 years in both entities, and are utilized on a "first in, first out" basis. Tax consolidation is available in both entities for entities incorporated on the territory of the relevant entity, provided certain conditions are met. Anti-aviodance provisions, including transfer pricing provisions exist.
Botswana	25	25	25	25	25	22	22	22	22	22	22
The corporate tax rate for resident companies is 22%. Dividends are subject to a general rate of 7.5% unless varied under a Double Tax Agreement. Non-resident companies rate is 30% with no additional taxes on remittance of profits.
Brazil	34	34	34	34	34	34	34	34	34	34	34
The corporate income tax (IRPJ) rate is 25%. The rate is a combination of a 15% basic rate and a 10% surtax on income that exceeds BRL 240,000 per year. In addition, Brazilian tax legislation imposes a social contribution on net profits (CSLL) at a rate of 9%. Thus, corporate income taxation should be charged at a combined rate of 34% (IRPJ and CSLL). Note that as of 1May 2008, the tax rate of the mentioned social contribution (CSLL) has been increased from 9% to 15% in case the taxpayer is a financial institution, a private insurance company, or a capitalization company. There are two main methods to calculate corporate income tax: (i) actual profit, where the taxable basis for both taxes should correspond to the company's net book profit; and (ii) presumed profit, wherein taxpayers shall calculate their corporate income taxes (at the same rate applied to the actual profit system) based on the application of a deemed profit margin. Brazilian entities may elect to compute corporate taxes based on this presumed profit mechanism; provided they (a) do not have total gross revenues in the preceding year higher than R$78 million; (b) are not financial institutions, similar entities or factoring companies; (c) do not earn foreign profits, income or gains (i.e. directly or through foreign subsidiaries) and (d) do not qualify for an exemption or reduction of the corporate income tax.
Bulgaria	15	10	10	10	10	10	10	10	10	10	10
The corporate income tax rate is 10 percent.
Cambodia					20	20	20	20	20		20
Corpoate tax rate: 0% for Qualified Investment Project under tax exemption period (ii) 5% on gross premiums for Insurance business (iii) 30% for oil & gas production, exploration and exploitaion of natural resources (iv) Others than above are subject to a standard rate of 20%.
Cameroon										33
The CIT rate in Cameroon was reduced by the 2015 Finance Law from 38.5% to the current 33%. This is composed by a 30% standard rate and an additional 10% as Local Development Tax, giving a total of 33%. This new rate entered into force on the 01/01/2015.
Canada	36.1	36.1	33.5	33	31	28	26	26	26.5	26.5	26.5
A 2016 representative corporate tax rate is 26.5% (a 15% federal tax component and an 11.5% provincial tax component). Depending on the province, the combined general corporate income tax rate ranges from 26% to 31%. Lower corporate income tax rates are available to Canadian-controlled private corporations (CCPCs) on their first CAD$500,000 (CAN$350,000 / CAD$450,000 for certain provinces) of taxable active business income. A 2016 representative tax rate for a CCPC on its first CAD$500,000 of active business income is 15% (a 10.5% federal tax component and a 4.5% provincial tax component). Depending on the province, the 2016 combined active business income tax rate ranges from 10.5% to 18.5%.
Cayman Islands	0	0	0	0	0	0	0	0	0	0	0
There is no corporate tax.
Chile	17	17	17	17	17	20	18.5	20	20	22.5	24
The current Corporate tax rate is 24 percent. Recent Tax Reform, which introduced major changes to the Tax System, increased Corporate tax rate gradually from 20 percent in 2013 to 25 or 27 percent in 2017 depending on the corporate tax system chosen. The modification shall apply progressively in the following manner: 21 percent for commercial year 2014; 22.5 percent for commercial year 2015; 24 percent for commercial year 2016; and 25 percent for commercial year 2017 onwards if attributed system is elected, instead if partially integrated system is elected, the tax rate would be 25.5 percent for commercial year 2017, and 27% for commercial year 2018 onwards. Dividend tax rates on non-residents have remained unchanged. Chilean corporate income tax (named first category tax) applies to all types of taxable income realized by a taxpayer, individual, or legal entity, regardless of its nationality, residence, or domicile, with the exception of income from dependent employee's and independent personal services. The tax base is the accrued net taxable income after allowable deductions and expenses. First category tax paid can be credited against final taxes, which are a personal income tax with a progressive rate schedule in case of Chilean resident individuals and withholding tax with a 35 percent flat rate in case of non-residents. Beginning 2017, Tax Reform establishes an alternative to elect between a system of attributed profits and a partially integrated system, both systems would maintain the integration of taxes, but under partially integrated system, taxpayers must reimburse as a fiscal debit, an amount equal to a 35 percent of the credit for corporate taxes paid. The credit reimbursement would not be applicable in case of taxpayers domiciled or resident in countries that have a Double Taxation Treaty in force with Chile. Under attributed system, the income subject to final taxes will be attributed to the companies' owners regardless of actual withdrawal or distribution of profits.
China	33	33	25	25	25	25	25	25	25	25	25
The corporate tax rate is 25%. Certain industries and qualified businesses may be entitled to lower corporate income tax rates such as 15%. Some tax holidays are also available to qualified taxpayers.
Colombia	35	34	33	33	33	33	33	25	25	25	25
The general income tax rate is 25%, plus the fairness tax (CREE as its name in Spanish) at the rate of the 9%. For Industrial Users of goods and services located in a Free Trade Zone, the income tax rate is 15% and they would not be subjected to pay the CREE. In addition to the corporate income tax and the CREE, there is a municipal industry and commerce tax levied on industrial, commercial and services activities carried out within a municipality. The rates are set by each municipality but cannot exceed 1.4%, taking into account that the taxable base is the gross income of the activity. For income tax and CREE purposes deductible expenses include industry and commerce tax. Finally, please note that for foreign entities without a PE or a branch in Colombia the tax rate is 39% and the CREE does not apply. Furthermore, portfolio investors may apply to a reduced rate of 14% (except in the case of dividends and tax havens which rate is 25%).
Costa Rica
The corporate tax rate is 30%. This income tax rate is applicable to entities whose gross income exceeds CRC 105,241.000. Entities with gross income up to CRC 52,320,000 are subject to a 10% corporate income tax rate, entities with income exceeding CRC 52,320,000, and up to CRC 105,241.000 are subject to a corporate income tax rate of 20%.
Croatia	20	20	20	20	20	20	20	20	20	20	20
The corporate profit tax rate is 20%. Taxable income is determined by adjusting accounting profit/loss in accordance with the provisions of the Corporate Profit Tax Law. Dividends received are not subject to corporate profit tax. A company can reduce its tax base by the amount of declared after tax profit used to increase the company´s registered share capital and provided these profits are invested in long term assets with the view of preserving current working positions. Additionally, companies registered in Special State Care Areas or in the City of Vukovar employing a certain number of people residing in Special State Care Areas or in the City of Vukovar can apply for a 50% corporate profit tax rate reduction or for a corporate profit tax exemption provided certain conditions are met. Companies registered in tax-free zones can apply for a 25% corporate profit tax rate reduction (applicable until 31 December 2016). Further, corporate profit tax rate reduction (for 50% or 75%) or corporate profit tax exemption for a period of up to 10 years is available under special investment incentive schemes. Forestry tax, tourist tax and monument protection fees are taxes/fees based on turnover.
Curacao						34.5	27.5	27.5	27.5	25	22
N/A
Cyprus	10	10	10	10	10	10	10	12.5	12.5	12.5	12.5
The corporate tax rate for tax year 2013 onwards is 12,5%.The rate is applicable on business income derived by a company (defined as "any body with or without legal personality, or public corporate body, as well as every company", but it does not include a partnership). Dividends received are tax exempt. Income deriving from the sale of securities is also tax exempt. Only expenses wholly and exclusively related to the business activity are deductible.
Czech Republic	24	24	21	20	19	19	19	19	19	19	19
The generally applicable corporate tax rate is 19%. A special reduced rate of 5% applies to profits of qualifying investment funds if at least 90% of the fund's property is invested in qualifying assets. A tax rate of 0% applies to pension funds. Dividends received by Czech corporate taxpayers are generally subject to a tax rate of 15%. However, dividends received from a subsidiary in which the parent has held at least 10% shareholding for at least 12 months and which is resident in the EU are exempt. A dividend received from a subsidiary resident in a country with which the Czech Republic has signed a Double Tax Treaty is also exempt upon following conditions: (i) the legal form of the subsidiary is similar to a limited liability company, joint stock company or a cooperative, (ii) the parent has held at least 10% for at least 12 months, (ii) the corporate tax rate of the subsidiary is at least 12% in the last two tax periods. Dividends paid to non-resident shareholders are generally subject to a 15% withholding tax, unless a more favorable rate is provided for under a Double Tax Treaty or under the EU Parent Subsidiary Directive. If no Double Tax Treaty or Information Exchange Treaty has been concluded between the Czech Republic and the country of residence of the recipient of the dividend, and if that country is not a signatory to the Council of Europe's Convention on Mutual Administrative Assistance in Tax Matters, a higher withholding tax rate of 35% is applicable. Income tax relief for a period up to 10 years is available under special investment incentive schemes.
Denmark	28	25	25	25	25	25	25	25	24.5	23.5	22
Dominican Republic	30	25	25	25	25	29	29	29	28	27	27
Ecuador	25	25	25	25	25	24	23	22	22	22	22
The annual tax year is from January 1st to December 31. The tax rate for current companies for 2015 is 22%. However, the rate is 25% when the company has shareholders, partners, stakeholders, constituents, beneficiaries or similar resident or established in tax havens or lower taxation jurisdictions with a direct or indirect, individually or jointly, interest (participation) equal to or greater than 50% of the social capital. When the mentioned participation is below 50%, the 25% rate will apply over the proportion of the taxable base corresponding to such interest (participation). Similarly, the 25% rate will apply to all taxable base if the company fails to report on the interest (participation) of its shareholders, partners, stakeholders, constituents, beneficiaries or similar. The companies that reinvest their profits in the country may obtain a reduction of 10 percentage points in the tax rate on the amount reinvested in earning assets provided that these are intended for the acquisition of new machinery and new equipment, irrigation assets, planting material seedlings and any plant input for agricultural production, forestry, livestock and floriculture, used for productive activity and the acquisition of goods related to research and technology that improve productivity and increase employment, for which they must perform the corresponding capital increase and meet other requirements.
Egypt	20	20	20	20	20	20	25	25	25	22.5	22.5
N/A
El Salvador							30	30	30	30	30
The corporate income tax rate is 30% (this increased from 25% on 1 Jan 2012).A 25% corporate income tax rate applies to taxpayers with less than US$ 150,000 gross taxable income.Distributions of profits (e.g. dividends) to individuals or legal entities derived from domiciled corporations are subject to an additional 5% tax. If the shareholder is a non-domiciled individual or entity, the 5% tax will be withheld at the time the dividend is paid.Distribution of profits arising in tax years prior to 2011 are exempt from the dividend tax.Distribution of profits to low tax jurisdictions (tax havens) are subject to a 25% withholding tax.The 5% withholding tax is also applicable in the case of loans granted to non-domiciled shareholders, parent companies, branches or agencies, etc. However this withholding tax will not be applicable provided that certain requirements are met (i.e. interest rate agreed is at a fair market value or loan agreements executed between financial institutions regulated by the Superintendent of Financial Services etc). Monthly advance (estimated) payments are made throughout the tax year based on 1.75% of gross monthly income. Payment of royalties, services, head office charges, etc. to non-domiciled corporations are subject to a withholding tax of generally 20%.
Estonia	23	22	21	21	21	21	21	21	21	20	20
The corporate tax rate was reduced since 1 January 2015 from 21% to 20%. According to the corporate income tax system applied in Estonia, undistributed profits are not subject to tax. Instead, income tax at the rate of 20% is charged on gross dividends.However, tax is calculated as 20/80 of the net dividend. Thus a company not distributing profit is not obliged to pay income tax. Taxable expenses are subject to 20/80 corporate income tax as well.
Fiji	31	31	31	29	28	28	28	20	20	20	20
The corporate tax rate is 20 percent. The corporate income tax rate applies to companies incorporated in Fiji and branches of non-resident companies. Reduced corporate tax rates for foreign companies that establish/relocate its headquarters to Fiji (17 percent) and companies listed under the South Pacific Stock Exchange (10 percent from 1 January 2014). A new Income Tax Act effective 1 January 2016 imposes a 1 percent transitional tax on any part of the net profit after tax of a company for the 2014 tax year which are undistributed by 1 January 2015. The tax is due by 31 March 2016. In addition, a new dividend tax of 3 percent applies in respect of dividends paid or credited to residents and 9 percent when paid or credited to non-residents. Fiji Revenue & Customs Authority is developing a practice statement that will deal with transitional rules in respect of dividends.
Finland	26	26	26	26	26	26	24.5	24.5	20	20	20
The corporate tax rate is 20%.
France	33.33	33.33	33.33	33.33	33.33	33.33	33.33	33.33	33.33	33.33	33.3
A 3.3 percent social contribution is levied on the part of the corporate income tax that exceeds EUR 763,000, resulting in an overall maximum tax rate of 34.43 percent. In addition, a temporary 10.7 percent surtax is levied on companies with a turnover over EUR 250 million. The tax is calculated on the gross CIT amount liability but before the application of any tax credit (such as R&D credit or foreign tax credit). This temporary surtax, which brings the overall maximum tax rate to 38 percent, is expected to apply to financial years (closed) from 31 December 2011 until financial years (closed) on 30 December 2016. Specific categories of income can benefit from a reduced corporate tax rate under conditions. In particular, licensing fees relating to certain IP rights can benefit from a 15 percent corporate tax rate (respectively 15.5 percent or 17.10 percent taking into account the above two surtaxes). Small and medium size companies with a turnover of EUR 7.63 million or less owned at least 75 percent by individuals (or owned by companies meeting the same conditions) are subject to a corporate income tax rate of 15 percent. This reduced rate applies to taxable profits up to EUR 38,120. These small and medium size companies are not subject to the above–mentioned social contribution and temporary surtax. FIDAL is an independent legal entity that is separate from KPMG International and KPMG member firms.
Georgia								15	15	15	15
The Corporate Income Tax is calculated on an annual basis; the rate of 15% is applied to the taxable profit. The taxable profit is defined as the difference between the gross income and the relevant deductions stipulated by the Tax Code of Georgia
Germany	38.34	38.36	29.51	29.44	29.41	29.37	29.48	29.55	29.58	29.65	29.72
The corporate tax rate is 29.72%. The overall income tax rate for corporations includes corporate income tax at a rate of 15%, solidarity surcharge at a rate of 0.825% (5.5% of the corporate income tax), and local trade tax. The local trade tax generally varies between 7% and 17.15%, assuming a municipality multiplier (Hebesatz) ranging normally from 200% to 490% (the average multiplier for 2014 was 397%). The local trade tax is not deductible as a business expense.
Ghana								25	25	25	25
The above rate is the general corporate tax rate. However, there are specific rates applicable to certain sectors as follows: Minerals and Mining Operations - 35% Petroleum Operations - 35% Hotel - 22% Free Zone Entities - Income from Sales to Foreign Market - maximum of 15% after the ten-year tax holiday - Income from Sales to Local Market - maximum of 25% after the ten-year tax holiday Export of non-traditional goods - 8% Financial institutions in respect of income from financing farming and leasing companies - 20% Enterprises previously on tax holiday are now subject to a concessionary tax rate of 1% during period of concession.
Gibraltar	35	35	33	27	22	10	10	10	10	10	10
The corporate tax rate is 10%. Companies pay tax on income that is accrued and derived in Gibraltar. If it can be shown that income is not accrued and derived in Gibraltar, the income is not taxable in Gibraltar. The company can apply to the Commissioner of Income Tax to have this confirmed in an advance tax ruling (subject to certain conditions and restrictions). If a company in Gibraltar is licenced and registered in Gibraltar and receives interest or royalties.The income will be deemed to be accrued in and derived from Gibraltar A higher rate of 20% applies to utility companies e.g. electricity, fuel, telephone service and water providers and companies abusing a dominant market position.
Greece	29	25	25	25	24	20	20	26	26	29	29
The corporate tax rate for FY 2015 onwards is 29%. All kinds of income derived by legal entities shall be considered income from business activity, taxed under said standard corporate income tax rate. Capital gains for corporations are also considered regular business income. Greek source income derived by foreign legal entities is taxed in Greece as income from business activity only in case they have a permanent establishment in Greece. WHT is imposed on dividend distributions, interest and royalties at the rates of 10%, 15% and 20%, respectively.
Guatemala	31	31	31	31	31	31	31	31	28	25	25
The corporate tax rate for the 2016 is 25% or 7%. The Guatemalan corporate income tax system is based on the territoriality principle; all Guatemalan-source income is taxed. The taxpayer´s choice to be under the tax system at a rate of 25% on taxable income (the general system) or at a rate of 7% on gross income (the optional system). Under the general system, corporate income tax is paid annually but quarterly advance payments are required. Under the optional system, corporate income tax is paid on a monthly basis.
Guernsey	0	0	0	0	0	0	0	0	0	0	0
The standard corporate tax rate is 0%, unless the 10% or 20% tax rates apply or unless a successful application for exempt status is made with the Guernsey Tax Authorities, as set out in the circumstances below: Applications for exempt status may be made by collective investment schemes (funds), or any entity within a collective investment scheme structure. These applications need to be made on an annual basis, and if granted, provide confirmation that the entity is exempt from Guernsey tax for that year. Income derived from certain regulated banking and money lending activities is taxable at 10%. The 10% tax band was extended effective 1 January 2013 to include income from licensed fiduciaries (in respect of regulated activities), licensed insurers (in respect of domestic business), licensed insurance intermediaries and licensed insurance managers. The 10% tax band was further extended effective 1 January 2015 to include income from third party fund administration business. From 1 January 2016, it has been expanded further to include custody services provided by banks to certain investment funds. Furthermore, income derived from regulated utility activities and Guernsey land & property (including rental, quarrying and property development) is taxable at 20%. From 1 January 2016, this rate also includes profits from the important of certain fuels and income from large retail operations.
Honduras	30	30	30	30	25	35	35	35	30	30	30
Legal entities shall pay the income tax according to the highest result of the application of the following tax rates: a)25% calculated upon the taxable income, or b)1.5% calculated upon gross income, or c)1% calculated upon net assets. Besides legal entities with axable income higher than L1, 000,000.00 shall pay a 5% tax rate calculated upon the taxable income in concept of "Aportación Solidaria" (Solidarity Contribution).
Hong Kong SAR	17.5	17.5	16.5	16.5	16.5	16.5	16.5	16.5	16.5	16.5	16.5
The corporate tax rate is 16.5%. Hong Kong SAR is a special administrative region of the People´s Republic of China. The 16.5% rate applies to Hong Kong-sourced profits that are derived from a business carried on in Hong Kong. Offshore profits, capital gains, dividends, and most Hong Kong bank deposit interest income are exempt from tax. Profits derived from certain securities or types of business (such as qualifying debt instruments, profits derived by offshore funds (including hedge funds and PE funds) on qualifying transactions and profits derived from the business of insurance of offshore risks by a captive insurer or reinsurance of offshore risks by a professional re-insurer) are either exempt from tax or subject to a concessional rate of 8.25% (50% of the 16.5% standard rate).
Hungary	16	16	16	16	19	19	19	19	19	19	19
The corporate tax rate is 19%. A 10% corporate income tax rate applies for taxable income up to HUF 500 million (approximately USD 1,800,000). The excess amount is taxed at 19%. These rates are expected to be applicable also in 2016. From 1 July 2007, a minimum tax (AMT) applies. The AMT base amounts to 2% of total income, and might be adjusted by certain decreasing and increasing items. Non application of the AMT does not involve extra risks, it simply requires a special information provision (on basic financials of the taxpayer) and may normally be subject to increased likelihood of a tax audit. This should therefore, in our experience, be an issue for the grey/black economy taxpayers only. An additional local business tax (LBT) of up to 2.3% is applicable based on the adjusted net sales (as decreased by the cost of goods sold and the value of intermediated services and some further adjustments. Please note that deduction of cost of goods sold and mediated services is capped as of 1 January 2013. This local business tax is deductible for corporate income tax purposes.
Iceland	18	18	15	15	18	20	20	20	20	20	20
The corporate tax rate is 20%.The income tax rate for other resident legal entities, such as limited partnerships, associations, private non-profit institutions, trust funds, estates of deceased persons and bankrupt estates is 36%. Tax is imposed on net income after allowable deductions. A non-resident entity permanent establishment tax rate and deduction depends on the type of income and the entity legal form, the tax rate of the permanent establishment tax rate depends on what type of legal entity the head quarters correspond to in Iceland.
India	33.66	33.99	33.99	33.99	33.99	32.44	32.45	33.99	33.99	34.61	34.61
Tax Rates The corporate tax rate for domestic companies is 30 per cent. Foreign companies are taxable at 40 per cent. A minimum alternate tax (MAT) is levied at 18.5 per cent of the adjusted profits of companies where the tax payable is less than 18.5 per cent of their book profits. There is a special method for computation of total income of insurance companies. The rate of tax on profits from life insurance business is 12.5 per cent. Surcharge and Education Cess Surcharge is levied on the basic tax rate based on the level of total income as mentioned below. Further, education cess is applicable at 3 per cent on income tax (inclusive of surcharge, if any). Domestic Company –Where the total income is not more than INR 10 million – Nil – Where the total income is in excess of INR 10 million but does not exceed INR 100 million – 7 per cent – Where the total income exceeds INR 100 million – 12 per cent Accordingly, the effective tax rate of a domestic company would be 30.9/33.06/34.61 per cent respectively. Foreign Company – Where the total income is not more than INR 10 million – Nil –Where the total income is in excess of INR 10 million but does not exceed INR 100 million – 2 per cent – Where the total income exceeds INR 100 million – 5 per cent Accordingly, the effective tax rate of a foreign company would be 41.2/42.02/43.26 per cent respectively. Dividend distribution tax is levied at 15 per cent (plus surcharge at the rate of 12 per cent and education cess at 3 per cent)* on dividends distributed by a domestic company. Securities transaction tax is levied on the value of taxable securities transactions in equity shares and units of equity oriented funds. With effect from 1 July 2013, Commodities Transaction Tax has been introduced on the sale of commodity derivatives (other than agricultural commodities) traded in recognised associations, at the rate of 0.01 percent on the value of such transaction and such tax shall be payable by the seller. Wealth tax is proposed to be abolished with effect from financial year 2015–16 A presumptive tax regime is applicable in case of certain specified sectors viz. shipping, exploration of mineral oil, operation of aircrafts and turnkey power projects. * For computation of effective DDT, the amount of dividend distributed to shareholders shall be increased to such amount as would after reduction of tax on such increased amount be equal to the net distributed profits.
Indonesia	30	30	30	28	25	25	25	25	25		25
Listed companies which meet certain conditions are eligible for a 5 % reduction in the corporate tax rate. A company with gross turnover less than IDR50 billion (approximately USD5.5 million) is eligible for a 50 % reduction of the corporate tax rate on the proportion of taxable income which results when IDR4.8 billion is divided by the gross annual turnover. Where gross turnover is below IDR4.8 billion, the reduction applies on all taxable income.
Iraq								15	15	35	15
Starting from 2003, Iraq starts applying 15% CIT on all industries. On 2010 the parliament introduced Oil & Gas law and starts applying 35% CIT on Oil & Gas companies and industries related to Oil & Gas.
Ireland	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5	12.5
The corporation tax rate is 12.5% for active income from the conduct of a trade in Ireland. A corporation tax rate of 25% applies to passive income and to income from certain defined activities. Capital gains are taxed at 33% with a participation exemption for gains on disposals of certain shareholdings of 5% or more of companies resident for corporate income tax purposes in EU or income tax treaty states where the company being disposed of or the Irish parent and its 5% subsidiaries taken together are wholly or mainly engaged in carrying on activities in the nature of a trade.
Isle of Man	0	0	0	0	0	0	0	0	0	0	0
The corporate tax rate is 0%. A rate of 10% applies to certain profits of licensed banks and to profits derived from Isle of Man land or property. Furthermore, with effect from 6 April 2013, retailers with taxable profits in excess of GBP500,000 are taxed at 10%. With effect from 6 April 2015, the rate applicable to profits derived from Isle of Man land or property increased to 20%.
Israel	31	29	27	26	25	24	25	25	26.5	26.5	25
Companies with a beneficial or approved or preferred enterprise are taxed at a reduced tax rate that varies depending on the circumstances. Capital gains are subject to the standard corporate tax rate. Dividends from foreign sources are subject to a 25% tax with a credit for foreign withholding tax, and in certain circumstances, at the standard corporate tax rate on the grossed up dividend with a credit granted on all foreign taxes paid by the direct and second tier subsidiary on the dividend and the income from which it is distributed.
Italy	37.25	37.25	31.4	31.4	31.4	31.4	31.4	31.4	31.4	31.4	31.4
The basic corporate tax rate is 31.4% (IRES at 27.5% plus IRAP ordinary at 3.9%). However, in the Regions with a deficit, the IRAP rate can be increased up to 4.97%. Irap for banks and financial institutions ranges from 4.65% to 5.72%. An increased corporate tax rate at 38% (versus the ordinary 27.5%) applies to those entities that either are considered dormant or declared tax losses for three consecutive years.
Jamaica	33.33	33.33	33.33	33.33	33.33	33.33	33.33	25	25	25	25
The corporate tax rate is 25% for all companies that are not regulated companies. Regulated companies are those regulated by the Bank of Jamaica, the Financial Services Commission, the Office of Utilities Regulation and the Ministry of Finance and Planning and these entities are taxed at 33⅓%. These regulated companies generally fall within the categories of financial institutions, securities dealers, insurance companies and utility companies. Companies must declare their income and make prepayments of the corporate tax in four installments (15 March, 15 June, 15 September and 15 December) during the taxable year. If the final tax due exceeds the prepayments, the balance is payable by the due date of filing the income tax return (15 March of the year following the year of assessment).
Japan	40.69	40.69	40.69	40.69	40.69	40.69	38.01	38.01	35.64	33.06	32.26
The corporate tax rate is 32.26%. This is an illustrative effective tax rate for a company in Tokyo with stated capital of more than JPY100 million for fiscal years beginning on or after 1 April 2016. Under the 2016 tax reform proposals, such rate will be reduced further. If the proposals become law, an illustrative effective tax rate calculated using standard local tax rates (not Tokyo tax rates which are not yet available) for a company with stated capital of more than JPY100 million will be 29.97% for fiscal years beginning between 1 April 2016 and 31 March 2018 and 29.74% for fiscal years beginning on or after 1 April 2018. Size-based business tax is also levied on a company with stated capital of more than JPY100 million, in addition to the income-based business tax.
Jersey	0	0	0	0	0	0	0	0	0	0	20
The tax rate applicable depends on the activities of the company. Financial services companies pay tax at 10%. Utility companies e.g. electricity, water and gas pay tax at 20%. Companies importing and/or distributing hydrocarbon oils pay tax at 20%. Companies pay 20% on Jersey source rental income. All other companies are subject to the general rate of 0%.
Jordan	25	25	25	25	14	14	14	14	14	20	20
Primary telecommunication companies, electricity generation and distribution companies, mining companies,insurance and reinsurance companies, financial brokerage companies, and financial institutions including money exchange companies and financial lease companies 24 % of taxable income Banks 35% of taxable income Industrial companies14% of taxable income Others 20% of taxable income
Kazakhstan	30	30	30	20	20	20	20	20	20	20	20
The corporate income tax rate is 20 percent. Branches of foreign companies, operating in Kazakhstan, are subject to an additional branch profit tax of 15 percent on their after-tax income, resulting in an overall tax rate of 32 percent for branch offices. International tax treaties (for avoidance of double taxation) may reduce the branch profit tax.
Kenya							30	30	30	30	30
The corporate tax rate is 30%. The corporate tax rate for branches is 37.5%. Profits after tax are subject to 5% or 10% withholding tax, for residents and non-residents respectively, when distributed as dividend. Export processing zone enterprises are exempt from corporate tax for the first 10 years and subsequently enjoy a reduced tax rate of 25% for the next 10 years. Newly listed companies, approved under the Capital Markets Authority enjoy reduced corporation tax rates depending on the percentage of shares floated to the public. Informal businesses with turnover above five hundred thousand Kenya shillings but not exceeding five million Kenya shillings in a year of income pay a turnover tax of 3% which is a final tax. Effective 1 January 2016 the carry forward of losses has been capped to 10 years. Capital Gains Tax ( CGT) is applicable to gains on the transfer of property situated in Kenya, property is defined as unlisted securities and land (which includes buildings). As of 1 January 2016, the disposal of land whose value is less than KShs three million, or agricultural land situated outside urban areas of less than 50 acres is exempt from CGT. The CGT exemption is also applicable to gains on the transfer of securities traded on any securities exchange listed on the Capital Markets Authority. Instead a withholding tax at 0.3% applies. As of 14 December 2015, the Special Economic Zones (SEZ) Act introduced the establishment of SEZs in order to promote investment. SEZs include agricultural zones, business processing outsourcing, business services parks, Freeport zones, industrial parks and ICT parks. SEZ enterprises, developers and operators are exempt from all taxes and duties payable under the Excise Duty Act, Income Tax Act, East Africa Community Customs Management Act and the Value Added Tax Act on all SEZ transactions. Stamp duty will not be applied to the execution of instruments relating to the business activities of a SEZ.
Korea, Republic of	27.5	27.5	27.5	24.2	24.2	22	24.2	24.2	24.2	24.2	24.2
The corporate tax rate is 11%(including 10% of local income tax) up to 200 million Korean Won, 22%(including 10% of local income tax) over 200 million to 20 billion Korean Won and 24.2%(including 10% of local income tax) over 20 billion Korean Won.
Kuwait	55	55	55	15	15	15	15	15	15	15	15
The corporate tax rate is 15%. A flat rate of 15% has been introduced effective for fiscal periods commencing after 3 February 2008. Prior to this date, the tax rates ranged from 0% to 55% and were based on taxable income.
Latvia	15	15	15	15	15	15	15	15	15	15	15
The corporate tax rate is 15%. There are four regions in Latvia called Special Economic Zones (SEZ). Companies operating in these zones are granted an 80% corporate income tax relief. Very small companies with an annual turnover less than EUR100,000 may elect to pay tax of 11% of turnover.
Lebanon								15	15	15
Article 32 of the Income Tax Law of Lebanon no. 144 dated 12 June 1959 stipulates the rates of corporate tax which have been modified over time since then. The rate of 15% stands since 1999 to date.
Libya		40	40	40	40	20	20	20	20	20	20
The corporate tax rate is 20 percent. In addition to the 20 percent tax rate, a Jihad tax is levied (4 percent of profits).
Liechtenstein						12.5	12.5	12.5	12.5	12.5	12.5
N/A
Lithuania	15	15	15	20	15	15	15	15	15	15	15
The general corporate income tax rate is 15%. A reduced rate of 5% applies for agricultural companies, including cooperatives, and for small companies, if, among other conditions, i) their average number of employees does not exceed 10 and ii) the income does not exceed EUR 300 000. A 0% tax rate may be applied for companies established in free economic zones and for social companies. Currently, corporate income tax incentives are available for manufacturing companies employing people with disabilities, companies implementing investment or scientific research and experimental development projects. All incentives are applied only if certain conditions are satisfied and their impact varies depending on the specific facts and circumstances.
Luxembourg	29.63	29.63	29.63	28.59	28.59	28.8	28.8	29.22	29.22	29.22	29.22
The corporate income tax rate of 22.47% includes a 7% employment fund contribution. Additionally, a municipal business tax is levied. The rate for the city of Luxembourg is 6.75%. The municipal business tax rate varies depending on the location.
Macau	12	12	12	12	12	12	12	12	12	12	12
Progressive tax rates range from 3% to 12%, which taxable income over MOP300,000 is taxed at 12%. The Macau Government announces an exemption on taxable income up to MOP600,000 for the year of assessment 2015 (1 January - 31 December). The excess is taxed at 12%.
Macedonia	15	12	10	10	10	10	10	10	10	10
The corporate tax rate is 10%. A resident company is subject to corporate income tax on its worldwide income. No profit tax is due on undistributed profits, i.e. profit tax becomes due at the moment of payment of dividends or other distributions of profit. However, at each year end, profit tax is due separately on a tax base consisting of unrecognized expenses and understated revenues, reduced by the amount of any available tax credits arising from temporary tax differences. There are no local taxes on corporate income. Companies investing in technological industrial zones are exempt from corporate income tax for a period of 10 years.
Malawi							30	30	30	30	30
The Corporate Income tax rate is 30% for locally incorporated companies. For foreign and those operating as branches, the rate is 35%.
Malaysia	28	27	26	25	25	25	25	25	25	25	24
The corporate tax rate for Year of Assessment (YA) 2016 is 24% (25% for YA 2015). Resident companies with a paid up capital of MYR 2.5 million and below (as defined) at the beginning of the basis period for a YA are subject to a corporate income tax rate of 19% (20% for YA 2015) on the first MYR 500,000 of chargeable income. For chargeable income in excess of MYR 500,000, the corporate income tax rate is 24% (25% for YA 2015). Leasing income (from moveable property) derived by a permanent establishment in Malaysia is taxed against a rate of 24% whereas a non-resident corporation with no Malaysian permanent establishment is taxed against a rate of 10%. A special 5% rate applies to corporations involved in qualified insurance businesses. Income generated by a life fund of an insurance company is taxed against a rate of 8%. A non-resident corporation with shipping or air transport income may also benefit from a special tax regime. 70% of statutory income of resident corporations derived from the transportation of passengers or cargo on Malaysian ships is exempt. Companies engaged in petroleum operations are subject to a rate of 38%. Petroleum operations from a marginal field are subject to a lower rate at effectively 25%. Chargeable income derived from petroleum operations in the Joint Development Area is subject to the following rates: 1. 0% for first 8 years of production; 2. 10% for the next 7 years of production; and 3. 20% for subsequent years of production.
Malta	35	35	35	35	35	35	35	35	35	35	35
The corporate tax rate is 35%. Malta operates a full imputation system of taxation for both residents and non-residents, which ensures the full relief of economic double taxation upon the distribution of taxed profits by companies resident in Malta. On the distribution of taxed profits, the shareholders may opt to claim a partial/full refund of the tax paid by the distributing company. As a general rule, the tax refund amounts to six-sevenths of the tax paid. The refund will be reduced to two-thirds if the shareholder claims double-taxation relief and five-sevenths in those cases where the distributed profits are derived from passive interest or royalty income being subject to foreign tax at less than 5%. Dividends and capital gains derived from participation holdings will qualify for a full refund. The Malta tax suffered on distributed profits hence ranges between 0% and 10%. The tax paid on profits derived, directly or indirectly, from immovable property situated in Malta is not available for refund.
Mauritius	25	22.5	15	15	15	15	15	15	15	15	15
The standard corporate tax rate in Mauritius is 15%. Where a company holds a valid Category 1 Global Business Licence ("GBC1"), it is entitled to claim foreign tax credit on its foreign source income equivalent to the higher of actual foreign tax suffered or a presumed tax credit of 80% of the Mauritius tax. In this respect, the maximum effective tax rate applicable to a GBC1 is 3%. Documentary evidence must be available where actual foreign tax credit is being claimed.
Mexico	29	28	28	28	30	30	30	30	30	30	30
The rate reduction that was foreseen was amended in 2014 and the rate will remain at 30%. The Business Flat Tax has been abrogated starting January 2014 with some transitory rules applicable.
Moldova										12
n/a
Montenegro	9	9	9	9	9	9	9	9	9	9	9
The corporate tax rate is 9%. Taxable profit is calculated by adjusting the company´s profit or loss declared in the P&L account according to the provisions of the Corporate Income Tax Law. Adjustments include certain disallowed costs, transfer pricing as well as depreciation. Operating losses stated in the tax balance may be carried forward for five years and offset against operating profit declared in the tax balance. Capital losses could be carried forward and offset against capital gains up to five years.
Morocco								30	30	30	31
As of 1st January 2016, the corporate tax is calculated by applying a propotional tax rate to the taxable income. Taxable income rate (in MAD) 0 - 300 000 10%, 300 000 - 1 000 000 20%, 1 000 000 - 5 000 000 30%, ˃ 5 000 000 31%. The corporate tax rate is of 37 percent for banks and insurance companies. Export enterprises benefit for the part of the taxable income corresponding to the export turnover from a total exemption from corporate tax during the first 5 years and subsequently enjoy a reduced tax rate of 17.5 percent. There are also additional exemptions and reduced rates for some activities. The amount of tax payable may not be less, for any financial year and regardless of the taxable profit, than the minimum levy of 0.5 percent of turnover, profits of various kinds and subsidies but excluding capital gains (0.25 percent for turnover related to the sale of oil, gas and some other goods). There is an exemption from the minimum levy during the first 36 months following commencement of the operations. Starting from the 1st January 2016, the minimum levy may not be credited against actual corporate tax of subsequent years. The social contribution was levied from 2013 to 2015 on the accounting profit exceeding 15 million MAD. The applicable rate in this regard varies between 0.5 percent and 2 percent. This social contribution is no more in force starting from 1st January 2016. The withholding tax rate is 15 percent on the distribution of dividends to non-resident shareholders and after tax profits to branch's head office.
Mozambique	32	32	32	32	32	32	32	32	32	32	32
The corporate tax rate is 32%. Agricultural companies are taxed at a rate of 10% until 31 December 2015 (we expect to be extended). Furthermore, cultural, and artisan cooperatives may benefit from a 50% reduction in the tax rate.
Namibia						34	34	33	33	33	32
The non-mining corporate tax rate was reduced from 33% to 32% for years of assessment commencing on or after 1 January 2015. Companies that have been awarded with the registered manufacturing status are subject to a tax rate of 18% for a period of 10 years. Thereafter it reverts to the general rate which is currently 32%. It should be noted that companies that have been awarded manufacturing and export status qualify for special incentives such as reduced corporate tax rates.
Netherlands	29.6	25.5	25.5	25.5	25.5	25	25	25	25	25	25
The corporate tax rate is 20%/25% - The first EUR 200,000 of taxable profit is taxed at 20%. These rates have been in force since 2011.
New Zealand	33	33	30	30	30	28	28	28	28	28	28
The corporate tax rate is 28%. The 28% corporate tax rate applies from the 2012 income tax year. The effective date depends on the taxpayer´s book year. For example, a book year-end of 31 December will have the 28% rate effective 1 January 2011, whereas a taxpayer with a standard 31 March year-end will apply the new rate effective from 1 April 2011. 10% of general insurance premiums paid to non-residents are deemed to have a New Zealand source and are therefore taxable at the 28% rate.
Nigeria	30	30	30	30	30	30	30	30	30	30	30
The corporate tax rate was changed from 35% to 30% with effect from 1 January 1996. In addition to the corporate tax at 30%, Nigerian companies (i.e., companies incorporated in Nigeria) are liable to tertiary education tax at 2% of their assessable profit. The companies Income tax rate is 30%. In addition, companies are required to pay Tertiary Eduction Tax at 2% of assessable profits.
Norway	28	28	28	28	28	28	28	28	27	27	25
The corporate tax rate is 25%.
Oman	12	12	12	12	12	12	12	12	12	12	12
The corporate tax rate is 12%.This rate is based on taxable profits exceeding OMR 30,000 and it applies to all companies irrespective of the form of the company or the nationality. The 12% tax rate was effective under the old Income tax law however other rates were also applicable up to 30% in certain cases. However, from 1 Jan 2010, only the 12% rate is applicable uniformly for all tax payers. There are discussions in progress to increase the general corporate income tax rate from 12% to 15% and the removal of the minimum taxable income exemption of OMR 30,000 in 2016. This proposal is yet to be decreed. If these changes are approved it is likely to become effective prospectively from the date as notified in the published Official Gazette.
Pakistan	35	35	35	35	35	35	35	35	34	33	32
For tax year 2016 tax rate for companies other than banking companies shall be 32% and for banking companies it will be 35%. Previously, from 1 July 2006 to 30 June 2013, the tax rate for all companies including banking companies was 35%. From 1 July 2013 to 30 June 2014 the rate was reduced to 34%, from 1 July 2014 to 30 June 2015 the rate was reduced to 33% and now it has been further reduced to 32% for companies other than banking companies. Small companies may be taxed at a rate of 25%, subject to specified conditions.
Panama	30	30	30	30	27.5	25	25	25	25	25	25
The corporate tax rate is 25%.For entities in which the State is the owner of more than 40% of the shares the corporate income tax rate will be 30%.
Papua New Guinea	30	30	30	30	30	30	30	30	30	30
The corporate tax rate is 30%. For mining and gas companies, the corporate income tax rate is 30%. Petroleum projects commenced prior to 1 January 2001 are subject to a 50% tax rate while petroleum projects commenced on or after 1 January 2001 are taxed at either 45% or 30% depending on when the license is issued. Non–resident mining companies pay tax at 40%. Additional profits tax of 7.5% or 10% applies to gas companies on positive cash flows from a gas project in excess of a hurdle rate of return. In case of other businesses, a branch of a foreign company is taxed at 48% subject to reduction to 30% if a non–discrimination clause in a double tax agreement applies. Certain non–resident companies are taxed on a deemed profit basis (shipping at 5%, that is an effective tax rate of 2.4% of gross income; insurance at 10%, that is an effective tax rate of 4.8% of gross income). Foreign contractors can elect to be taxed on a deemed profit basis of 25% (that is an effective tax rate of 12% of gross income).
Paraguay	10	10	10	10	10	10	10	10	10	10
The corporate tax rate is 10%. A 5% tax on dividends applies upon distribution to domestic shareholders. Dividend distributions to non-resident shareholders are subject to a 15% withholding tax, resulting in an effective rate of 25.46%. Different tax rates apply to different activities performed by non-resident entities in certain cases: 3% for qualified insurance premiums; 3% for qualified freight and transport; 3% for communications (phone, internet, and similar); 4.5% for news agencies; 12% for distributors of movies, cinema/television, and similar; and 4.5% for transfer of the use of containers. For financings received from external banks, current effective rate is 6%. Corporate income earned by individuals/foreign entities for their activities carried out in Paraguay (e.g. through a branch or permanent establishment) is currently taxed at an effective rate of 15%.
Peru	30	30	30	30	30	30	30	30	30	28
Tax on dividends: 4.1% Interest: 4.99% or 30% for related parties or when requirements stated by law are not comply. Capital gains: 30%
Philippines	35	35	35	30	30	30	30	30	30	30	30
The corporate tax rate is 30%. Corporations and resident foreign corporations are subject to a 2% minimum corporate income tax (MCIT) starting their fourth year of operation. The MCIT is based on gross income and it is paid in lieu of the 30% corporate tax on net income whenever it is greater than the latter. A 10% improperly accumulated earnings tax (IAET) is imposed on undistributed earnings of closely-held corporations, except branches of a foreign corporation and Philippine Economic Zone Authority (PEZA) registered corporations. PEZA registered corporations pay the special tax on gross income earned in lieu of all taxes.
Poland	19	19	19	19	19	19	19	19	19	19	19
Statutory withholding tax rates are the following: Dividends 19%; Interest 20%; Royalties 20%;
Portugal	27.5	25	25	25	25	25	25	25	23	21	21
(1) The corporate tax rate is 21%. The general CT rate of 21% is increased by (i) a municipal surcharge (Derrama Municipal) varying from 0% to 1.5% to be levied over the taxable profit and (ii) a State surcharge (Derrama Estadual) of 3% to be levied over the taxable profit between EUR 1,500,000 and EUR 7,500,000, 5% to be levied over the taxable profit between EUR 7,500,000 and EUR 35,000,000 and 7% on the part exceeding EUR 35,000,000. (2) Small and medium enterprises developing an agricultural, commercial or industrial activity may benefit from a reduced 17% CIT rate on the first EUR 15.000 of their taxable profit. (3) As the State Budget for 2016 has not yet been made public, the CIT rates may change. Notwithstanding, according to the publicly known information on the said State Budget, the nominal CIT of 21% is expected to be maintained.
Qatar	35	35	35	35	10	10	10	10	10	10
The general corporate tax rate is 10% in Qatar and is applicable only to foreign investors. Wholly owned Qatari/GCC entities are exempt from corporate taxation. The tax rate for oil and gas operations is governed by the Development / Exploration and Production Sharing Agreements (DPSA / EPSA) and shall not be less than 35%.
Romania	16	16	16	16	16	16	16	16	16	16	16
The statutory corporate income tax rate is 16%. Taxpayers involved in activities related to casinos, nightclubs and discotheques, including legal entities which obtain such type of revenues based on an association contract, and the relevant profit tax is lower than 5% of the revenues derived from those activities, are required to pay profit tax of 5% on the respective registered revenues. Moreover, there is a specific regime applicable to micro-enterprises, i.e. Romanian legal entities with a turnover of maximum 100,000 EUR (certain types of activities excluded, e.g. banking, insurance or gambling). Turnover tax is compulsory, instead of corporate income tax, for these entities, as follows (other specific conditions must be observed as well): - 1% if the micro-enterprise has two or more employees; - 2% if the micro-enterprise has one employee; - 3% for micro-enterprises with no employees.
Russia	24	24	24	20	20	20	20	20	20	20	20
The corporate tax rate is 20%. Tax payments are split into federal part (2%) and regional part (18% that can be reduced to 13.5% for some categories of taxpayers). Tax rates for dividend income are: - 0% on dividends payable to a Russian legal entity (RLE) if this RLE has owned at least 50% of the shares in the dividend payer for 365 consecutive days, providing that the dividend payer is not resident in an off-shore country (any state on the Ministry of Finance´ s "black" list of jurisdictions); - 13% on dividends received by RLE from RLE or Foreign Legal Entity (FLE) unless the 0% rate applies; - 5% on dividends payable to FLE by RLE. Interest income on state securities is taxed at 15%, 9% or 0%.
Samoa	29	27	27	27	27	27	27	27	27	27
The corporate tax rate is 27 percent.
Saudi Arabia	20	20	20	20	20	20	20	20	20	20	20
The corporate income tax rate is 20%. Corporate income tax is payable by non-Saudi shareholders only. Zakat (a religious tax) at 2.5% is levied on Saudi and the Gulf Cooperation Council (GCC) nationals or companies owned by them. The GCC countries consist of Saudi Arabia, Kuwait, United Arab Emirates, Bahrain, Qatar, and Oman. In addition to corporate income tax, withholding tax of 5% is payable on dividends distributed to non-resident shareholders. Withholding tax is also applicable on various services at rates ranging from 5% to 20%. Capital Gains Tax rate is 20%.
Serbia	10	10	10	10	10	10	10	15	15	15	15
The corporate tax rate has been increased to 15% as of 1 January 2013. Taxable profit is calculated by adjusting the company´s profit or loss declared in the P&L account according to the provisions of the Corporate Income Tax Law. Adjustments include certain disallowed costs, adjustment of certain revenues, transfer pricing as well as depreciation.
Sierra Leone									30	30	30
The tax is applicable on the ordinary chargeable business.
Singapore	20	20	18	18	17	17	17	17	17	17	17
The corporate tax rate is 17%. For the Year of Assessment (YA) 2016 and YA 2017, companies will receive a 30% corporate income tax rebate capped at SGD20,000 per YA. There is a partial tax exemption of 75% on the first SGD10,000 and 50% on the next SGD290,000 of the company´s income subject to tax at prevailing corporate tax rate. Start-up tax exemption can be granted on the said income of a qualifying company on its first SGD100,000, and a further 50% exemption is given on the next SGD200,000, for each of its first three consecutive years of assessment. A concessionary tax rate of 10% or lower applies to qualified entities. Note: The above note may be subject to change in view of the 2016 Budget Statement which will be delivered on 24 March 2016.
Sint Maarten (Dutch part)						34.5	34.5	34.5	34.5	34.5
NA
Slovakia	19	19	19	19	19	19	19	23	22	22	22
The corporate income tax rate for 2016 is 22 percent.
Slovenia	25	23	22	21	20	20	18	17	17	17	17
The corporate tax rate is 17%. Taxable persons performing non–profit activities are exempt. There is also a special rate of 0% which, subject to certain conditions, may apply to investment funds, pension funds, insurance undertakings for pension plans, and qualified venture capital companies.
South Africa	36.89	36.89	34.55	34.55	34.55	34.55	34.55	28	28	28	28
From 1 April 2012 Secondary Tax on Companies at a rate of 10% was abolished and replaced by a dividend withholding tax at a rate of 15%. This moves the dividend tax to a shareholder tax. This means that the effective corporate tax rate is 28% with effect from 1 April 2012.
Spain	35	32.5	30	30	30	30	30	30	30	28	25
The corporate tax rate is 25% for tax year 2016. Newly created companies conducting business activities are taxed in the first tax period showing positive taxable base and the following tax year at a rate of 15%, except if they should be taxed at a lower rate or are considered an asset-holding company under section 2 of article 5 of the Spanish CIT Law. Tax protected co-operatives are taxed at 20%, except in respect of results not related to their corporate purpose, which will be taxed at the general rate. Credit cooperatives and rural banks are taxed at the general rate, except of results not related to their corporate purpose, which are taxed at 30%. Qualified non-profit organizations are taxed at a rate of 10%. Entities taxed at 1% include qualified collective investment institutions, qualified investment funds and real estate investment companies. Pension funds are taxed at a rate of 0%. Financial institutions and entities engaged in the exploration, research and exploitation of deposits and underground storage of hydrocarbons are taxed at a rate of 30%.
Sri Lanka	32.5	35	35	35	35	28	28	28	28	28	15
The corporate income tax rate is 28% (effective 1 April 2011). Small companies which are engaged in the business of manufacturing and provision of services (with turnover not exceeding LKR 750 million and not belonging to a group of companies) are liable to corporate income tax at a lower rate of 12% with effect from 1 April 2015. Certain sectors enjoy concessionary rates, such as exports (other than traditional products), tourism and construction which are taxed at 12%, and agriculture which is taxed at 10%, with an exemption on offshore services and entrepot sales. Companies engaged in manufacture or import and sales of liquor or tobacco products are taxed at a higher rate of 40%. A deemed dividend tax at 15% is applicable for non-declaration of at least 10% of distributable profits. In terms of the budget proposals for 2016, effective from 01 April 2016, the corporate income tax rates would be 15% and 30%. The higher corporate income tax rate of 30% would be imposed on the profits derived from the businesses of betting & gaming, liquor, tobacco, banking & finance and trading. Profits derived from other business are liable at 15%. Further, in addition to the corporate income tax, ´ surtax´ would be imposed at the rate of 25% on the income tax liability of profits on businesses of tobacco, liquor, and betting and gaming. However, such proposals are pending for legal enactment.
St Maarten										24.5	34.5
The corporate tax rate is 34.5% (incl. 15% surcharges)
Sudan	35	30	15	15	15	35	35	35	35	35
The corporate tax rate is (ziro%/10%/15%/30%/35%).Agricultural companies are subject to corporate income tax at a rate of ziro%.Industrial companies are subject to corporate income tax at a rate of 10%. Trading, real estate, andservice companies are subject to corporate income tax at a rate of 15%.Banks & Tobacco companies are subject to corporate income tax at a rate of 30%. Oil companies are subject to corporate income tax at a rate of 35%.Entities that are exempt from corporate income tax exemption will be subject to development tax at a rate of 5% of the exempt taxable profit.
Suriname								36	34.5
NA
Sweden	28	28	28	26.3	26.3	26.3	26.3	22	22	22	22
The corporate tax rate is 22% as from 1 January 2013.
Switzerland	21.3	20.63	19.2	18.96	18.75	18.31	18.06	18.01	17.92	17.92
The maximum effective corporate income tax rates range from 11.48% to 24.43% depending on canton and commune. The rates comprise federal, cantonal, and communal taxes. However, please note that to date 9 of 26 cantons have not yet published the 2014 tax rates. All 26 cantons apply different tax rates and in most of them the statutory tax rate needs to be multiplied with the communal and/or cantonal coefficients that may vary from tax period to tax period. As all taxes including corporate income taxes are deductible when computing the tax basis, the effective corporate income tax rates are lower than the statutory rates published in the tax codes. The average of the maximum effective corporate income tax rates in the capital cities of the cantons is 17.92%. Please note that until 2012 the tax rate in the city of Zurich (currently 21.15%) was published in this survey as the main tax rate of Switzerland. However, it has been decided that the average tax rate applicable in the capital cites of the cantons is considered to be more meaningful. The 2006 – 2012 tax rates have been adjusted accordingly. In 2014, the community of Meggen in the canton of Lucerne has the lowest corporate income tax rate (11.48%) while some communities in the canton of Geneva have the highest (24.43%). However, if a company qualifies for a holding, principal, or mixed company ruling, the effective tax rate can be reduced to a minimum of 5%. Additionally, full tax holidays up to 10 years might be available in some regions.
Syria	35	28	28	28	28	28	28	22	22	22
The corporate tax rate is 28%.The lower progressive rates are on the first SYP 3 million of taxable profit. Investment law entities, LLCs and closed JSCs are taxed at a flat rate of 22%; private banks at a flat rate of 25%; and public majority joint stock companies at a flat rate of 14%. Additional local administration surcharges vary from 4% to 10% of the tax amounts, depending upon location. Branches of foreign companies are subject to withholding taxes on cash payments received in lieu of corporate income tax and tax on salaries and wages, at rates that vary from 3% to 10% depending on the nature of their activities. Tourism entities of the luxury and international class are subject to tourism tax at 3% of gross monthly turnover in lieu of income tax and tax on salaries and wages.
Taiwan	25	25	25	25	17	17	17	17	17	17	17
The corporate tax rate is 17%. The 17% rate is applicable to income when it is more than TWD 120,000.However, the income tax payable shall not exceed half of the part of taxable income that exceeds TWD 120,000.Starting from the fiscal year of 2010, the corporate income tax rate is reduced from 25% to 17%.
Tanzania				30	30	30	30	30	30	30	30
The corporate tax rate is 30%. Profits after tax are subject to 10% withholding tax when distributed as dividend, resulting in an effective tax rate of 37 % for a profit–making and dividend–distributing business organization. If an entity will be making tax losses for five consecutive years, such entity would tax at a rate of 0.3% of the turnover of the third year.
Thailand	30	30	30	30	30	30	23	20	20	20	20
The corporate tax rate is 20%. A progressive CIT rate applies to small and medium sized enterprises (SMEs), starting with a 0% tax bracket scaling up to a highest bracket of 20%. An SME is a company with no more than THB 5 million of paid-up capital and no more than THB 30 million turnover. Remittances of dividends and branch profits are subject to 10% withholding tax (WHT). The Board of Investment (BOI) provides tax incentives for promoted businesses, including CIT exemptions and reductions, dividend WHT exemption, and import duty exemptions. Application must be made with the BOI to qualify. The CIT rate applicable to a company operating as a regional operating headquarters (ROH) or International Headquarters (IHQ) company can range from 0% to 10%. A 50% petroleum income tax is imposed on profits earned from petroleum sales. Foreign companies engaged in international transportation are taxable at the rate of 3% on gross income. There are a number of further nuances which may need to taken into account.
Trinidad and Tobago							25	25	25	25
The corporate tax rate is 25%. For companies engaged in the liquefaction of natural gas, manufacture of petrochemicals, physical separation of liquids from a natural gas stream and natural gas processing from a natural gas stream, transmission and distribution of natural gas or wholesale marketing and distributions of petroleum products a corporate tax rate of 35% applies.
Tunisia	35	30	30	30	30	30	30	30	25	25	25
The corporate tax rate is 25%. Fully export companies are taxable at the rate of 10% as per 1 January 2014. Such companies established before 1 January 2014 and for which the 10 years tax holidays did not expire, continue to benefit from a tax holiday for 10 years. For new fully exporting companies, to be incorporated by 31 December 2013 and starting their first sale exporting during 2014, they benefit of 10 years Corporate Income Tax exemption on their export activities. A 35% rate applies to the financial activities, for telecommunication operators and for the service suppliers of the gas and oil operators; those latters are subject to a progressive tax rate ranging between 50% and 75%. A rate of 10% applies to the agriculture and fishing sectors. The corporate income tax rate applies to resident companies and to permanent establishments of non–resident companies with a minimum tax payable of 0.2% under certain conditions.
Turkey	20	20	20	20	20	20	20	20	20	20	20
The corporate tax rate is 20%. A resident company is liable to corporate income tax on its worldwide income. A non-resident company is liable to corporate income tax on its Turkish-source income only.
Uganda	30	30	30	30	30	30	30	30	30	30	30
The corporate tax rate is 30 percent.
Ukraine	25	25	25	25	25	25	21	19	18	18	18
The general corporate tax rate is 18%. A 0% corporate rate applies to income of insurance companies from long-term life insurance as well private medical and pension insurance. A 3% rate applies to income derived by insurance companies from other insurance activities. Eligible domestic agricultural producers can elect to pay a fixed (unified) tax in lieu of the corporate income tax and certain other taxes.
United Arab Emirates	55	55	55	55	55	55	55	55	55	55	55
The corporate tax rate applicable in the UAE is 0%/20%/55%. The United Arab Emirates consists of seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Fujairah, and Ras Al Khaimah. While there are no corporate income taxes at a federal level, the emirates have issued their own income tax decrees. Although in theory these emirate-level decrees impose tax on the income of all corporate entities, in practice tax is currently only enforced on foreign oil companies engaged in the exploration and production of oil and branches of foreign banks. Although the tax rate applicable to oil companies is generally 55% of operating profits, the amount of tax actually paid by such companies is based on a rate agreed in individual concessions between the company and the respective emirate. This rate can range between 55% and 85%. Branches of foreign banks are subject to tax at 20% of their profits under the banking tax decrees. Municipal taxes are also levied in some of the emirates in the UAE. In Dubai, a 10% municipal tax is charged on hotel revenues (usually passed on to the consumer as a service charge), a 10% municipality fee is levied on the rent from commercial property, and a 5% fee is levied on the rent of residential property. Abu Dhabi does not levy a municipality tax on rented premises, but landlords are required to pay certain annual license fees (which they may pass on to tenants).
United Kingdom	30	30	30	28	28	26	24	23	21	20	20
From 1 April 2015 to 31 March 2017, the corporate tax rate is 20%. The UK government has announced a staged reduction in the main rate of corporation tax including, from 1 April 2014, a reduction from 23% to 21% and, from 1 April 2015, a reduction to 20%. There will be a further reduction to 19% from 1 April 2017 and to 17% from 1 April 2020. A small companies' rate applied until 1 April 2015 to companies with taxable profits of up to GBP 300,000 with marginal relief up to GBP 1.5 million. Bermuda, Gibraltar, Guernsey, Isle of Man, and Jersey are dependent territories or crown dependencies of the United Kingdom, but have their own tax systems.
United States	40	40	40	40	40	40	40	40	40	40	40
The corporate income tax rate is approximately 40%. The marginal federal corporate income tax rate on the highest income bracket of corporations (currently above USD 18,333,333) is 35%. State and local governments may also impose income taxes ranging from 0% to 9.99%, the top marginal rates averaging approximately 7.5%. A corporation may deduct its state and local income tax expense when computing its federal taxable income, generally resulting in a net effective rate of approximately 40%. The effective rate may vary significantly depending on the locality in which a corporation conducts business. The United States also has a parallel alternative minimum tax (AMT) system, which is generally characterized by a lower tax rate (20%) but a broader tax base.
Uruguay	30	30	25	25	25	25	25	25	25	25	25
The corporate tax rate is 25 percent.
Vanuatu	0	0	0	0	0	0	0	0	0	0
Corporate income tax is not levied within the Republic of Vanuatu. Furthermore, there are no income taxes, estate duties, gift duties, capital gains taxes, tax treaties or withholding taxes.
Venezuela	34	34	34	34	34	34	34	34	34	34
The corporate tax rate is 34%.Corporations engaged in the exploitation of hydrocarbons and related activities are generally subject to corporate income tax at 50% (also applicable to income from any other sources). This rate does not include municipal business taxes which range from 0.3% to 9.4% of gross income, depending on the district, and the business activity. The 34% marginal income tax rate is triggered at net taxable income exceeding 3,000 tax units (TU). The value of tax units is annually adjusted. For the year 2015 1TU is Bs.150.
Vietnam	28	28	28	25	25	25	25	25	22	22
The standard tax rate is reduced to 22% from 1 January 2014. From 2016 it will be further reduced to 20%. Special or preferential tax rates of 10% or 20% can be granted to encouraged investment projects. Certain industries may have a higher tax rate applied (e.g. oil and gas operations and natural resources exploitation from 32% to 50%).
Yemen	35	35	35	35	35	20	20	20	20	20	20
The corporate tax rate is 20%. The corporate income tax rate applies to all categories of commercial activity. A tax rate of 15% is available to projects licensed under the investment law. Special rates of taxation apply for: oil, gas and minerals (35%), international telecommunication (35%), mobile operators (50%), and tobacco (35%).
Zambia	35	35	35	35	35	35	35	35	35	35	35
The standard corporate tax rate is 35%. The tax rate on profits for all mining companies has been re-instated at 30% plus a variable profit tax of up to 15% if the profit is in excess of 8% of the turnover. The mineral royalty rate is at 6% for underground operations and 9% for open cast operations. Income earned by telecommunication companies is subject to 40% tax on profits in excess of ZMK 250 million. Profits from farming are taxed at 10%. Profits from the manufacture of chemical and organic fertilizer production, and export of non-traditional items are taxed at a rate of 15%. Companies with a turnover of ZMK 800 million or less pay a turnover tax of 3%. Finally, the tax fiscal year now runs from January 1 to December 31.
Zimbabwe	30.9	30.9	30.9	30.9	25.75	25.75	25.75	25.75	25.75	25.75	25.75
Standard rate is 25% and in addition there is a 3% AIDS Levy on the tax making the rate effectively 25.75%
Africa average	30.82	30.56	28.65	28.75	28.38	28.55	29.02	28.29	27.85	27.92	27.46
Americas average	29.97	29.27	28.84	28.82	28.28	29.28	28.67	28.35	27.96	27.35	27.86
Asia average	28.99	28.46	27.99	25.73	23.96	23.1	22.89	22.05	21.91	22.59	21.97
Europe average	23.7	22.99	21.95	21.64	21.46	20.81	20.42	20.6	19.68	20.12	20.48
Oceania average	30.6	30.2	29.6	29.2	29	28.6	28.6	27	27	27	26
North America average	38.05	38.05	36.75	36.5	35.5	34	33	33	33.25	33.25	33.25
Latin America average	29.07	28.3	27.96	27.96	27.52	28.83	28.3	27.96	27.52	26.85	27.29
EU average	24.83	23.97	23.17	23.11	22.93	22.7	22.51	22.75	21.34	22.25	22.09
OECD average	27.67	27	25.99	25.64	25.7	25.4	25.15	25.32	24.11	24.86	24.85
Global average	27.5	26.95	26.1	25.38	24.69	24.5	24.4	23.71	23.64	23.87	23.63

https://home.kpmg.com/xx/en/home/services/tax/tax-tools-and-resources.html

Trump campaign, chaos or plan?

TRUMP'S UNCONVENTIONAL CAMPAIGN

ONLY POST ELECTION CAN TELL THE REAL STORY

The Donald Trump campaign has been a phenomenon in US election history since the beginning. There is no question that it has captured the attention of this country and also in other parts of the world. The emotions of this campaign have been extreme support and extreme opposition. In the primary with 17 candidates it was necessary to set oneself apart from the rest of the pack. While spending less money than his competitors Trump was able to do just that. He used unorthodox methods to raise his profile and diminish his opposition. While it was a mystery as to who was actually running the campaign, all anyone knew that his campaign was run by less than a dozen people. It was assumed Trump was the master of the campaign and just had a knack at knowing what issues to focus on and how to dispatch his opponents. I have my doubts that this was the case, Trump started out with a list of positions that was right on the mark, and he set the course of the primary that others would never have followed. If you think about Trump and his history, you don't build big buildings by the seat of your pants. It takes planning, hiring experts, architects, engineers, and managers. People to deal with regulators, zoners, and logistics. I am beginning to believe that this campaign is not as simple as it seems. Will it be successful? I don't really know, but I am beginning to think this campaign is more planned than most would want to believe.

How did Trump arrive at his platform, It has not changed since the first days. You often hear people say he will walk that back or he will moderate that. He has held to his platform from day one. That is hard to do, unless there is a plan. Who helped him come up with this approach, I believe there was several years of planning in this campaign and I also believe there are unknown professional people advising him. The Republican consultant class is possibly going to be bankrupt by Trump as he has not spent any money. It is no wonder that 70+ republicans, mostly consultants, signed a petition to the RNC to take money from Trump and move it to the Senate campaigns so that they can have a chance to survive. Trump, just shrugged his shoulders.The National defense experts who have run our National defense for the last 40 years for both democrats and republicans, have disavowed Trump mostly because he stated early on that he would go in a different direction. He seems unconcerned by the defection of establishment republicans. This also indicates that there may be a plan that has taken that into account. Will it work? He must think that it will.

This past week , we saw the uproar about the second amendment, Hillary and the court. After a few days I became aware that the media was playing the tape, that if Hillary was elected she would eliminate the second amendment as we know it,  This video and sound bite was replayed hundreds of times with great enthusiasm by the media. It was more than a 30 second ad. What was the value of that for targeting the second amendment people to dig in and get out to vote. Then we saw Trump exclaim that Obama and Hillary were the Founders of Isis, how many times was that played. Is the real goal to have the sound bite, " Hillary will eliminate the second amendment"  " Obama and Hillary were the founders of Isis" If this is the strategy, it has to be pretty risky or will it all be tied together later.

Trump has been working very hard at raising money, with reasonable success, but has not spent any money on advertising  in the general election. Hillary has reportedly spent $150 million. There must be a plan for this money to be used later. There is no question that Trump is not running an orthodox campaign and it may prove to be a dismal failure. But to assume that it is a chaotic and unplanned undertaking would not be born out by the history of Trump.

Voter suppression is the 2016 game

VOTER SUPPRESSION WARS HAVE JUST BEGUN

VOTERS TO BE SUBJECTED TO 3 MONTHS OF PSYCHOLOGICAL WARFARE

If Mitt Romney had earned the same number of votes as John McCain in 2012 he would have won that election. The portraying of Romney as a liberal, who not only introduced government healthcare in Massachusetts, but also as a destroyer of American companies was very effective in keeping conservative voters at home. Twisting the fact that he had a binder of women applicants to indicate he was anti-women. That he told a story of putting his dog on the roof of his car in a crate because the dog was stinking up the car, anything to show he was unacceptable.  While this idea of diminishing a candidate in the eyes of his or hers own supporters is nothing new, it was once just called negative advertising, it has now become an unrelenting psychological warfare against the opponent's voters.

One thing unique to this election is that Donald Trump is up against a 3 pronged attack, the democrats, the media, and the establishment republicans. A republican candidate usually has to withstand the attacks of the democrats and media, but not usually from the elite of his own party. Trump has been under fire from day one. When he announced, and stated he would stop illegal immigration, the firestorm began, it was spun that he hated immigrants, and he was racist. Univision pulled out of Miss Universe contest, Macy' stopped selling his clothing line, and so it began. The distortions, out of context reporting has continued unrelenting. Trump was able to overcome all this in the primary and still win.

The general election has saw the democratic machine, fine tuned under the Obama supporters get the jump on Trump. It was like a light switch was turned on June 1, as the media stepped up their scrutiny of every word or phrase to put the pressure on Trump. It has been very effective so far. While Trump is trailing Clinton now, it will be interesting how things work out when the Trump campaign gets going. Trump, of course has been cooperating, by getting into the weeds, by thinking he has to address every item of criticism, Hillary Clinton has mostly been hiding out, by speaking only in controlled settings and in environments under control of her campaign.

While Trump has had a lot of scrutiny till now, he like Obama have no political record. Hillary Clinton however has a political record, with a lot of controversy, it will be fertile ground for a unrelenting attack in the future. 90 days is an eternity in the political warfare of a presidential campaign. We are just beginning to see the suggestions that she is not physically well, that she suffering from some undisclosed ailments. There usually is some truth to all attacks, that will be exaggerated to create doubt in the minds of their supporters, that their candidate really is not worthy of their vote.

Trump's candidacy is unique  in modern politics, he is not a career politician, this of course is an affront to all career politicians. He is an unknown quantity, will they be able to control and will he compromise with them? The establishment republicans will never support Trump, he is probably not controllable and does not have the support of the usual big donors. He has questioned trade policies and foreign policy, both of which create trillions of dollars of income for the donors and their representatives.  They now say, that they are just too principled and of too high a moral character to support Trump. If they are so principled they would have sought the impeachment of Obama and Holder when they failed to faithfully execute the laws of the country. This is so much bull shit, why don't they just be honest and admit it is all about political power and money, which if  Trump were elected would place all that in doubt.

So, it will be a campaign to see whose supporters will be the strongest, most steadfast, most able to withstand psychological flogging for the next 3 months. Those with financial interests at stake, those making fortunes on trade and foreign policy, the government workers unions, federal, state and local, will be steadfast for Clinton, all those who are dependent on government, which is near a majority, will be mostly for Clinton. Its probably around 43% entrenched voters on each side. That leaves possibly only 10 percent of electorate undecided. The actual battle will be who can best discourage their opposition's voters to the point that they stay home.

NWLehigh taxpayers income down again

AUGUST 3 NWLEHIGH SCHOOL BOARD WORKSHOP

DISTRICTS TAXPAYERS INCOME DOWN FOR 2 CONSECUTIVE YEARS.

Berkheimer & Associates reported on the 2015-2016 Earned Income tax receipts for the last fiscal year. Total receipts were $2,464,174, this is down $3,521.00 from last year and down $32,435.00 from 2 years ago. This is the truest gauge as to the financial ability of the districts taxpayers to absorb more taxes. While taxes have not been raised in the district for 5 years. The current spending plans of the new school district board will need to be paid for from somewhere. The combined incomes of the districts taxpayers is now down $3,243,500 in the last 2 years. This of course does not take into account the increase in health care costs. Local taxpayers disposable income is under assault on many fronts. The school board needs to take this into consideration when planning  new spending projects.

In other news it was discussed that the renewal of the Charter for Circle of Seasons Charter School is assured, but it may not be finalized as they are just beginning the negotiations for the new Charter. They expect this to be finalized by the September board meeting.

It was reported that so far 38 taxpayers have filed for a School tax rebate. There are over 370 eligible taxpayers in the district. They have till Dec. 31, 2016 to file for the rebate.

The monthly board meeting will be August 17 at 7 pm. It is open to the public. All residents are encouraged to attend.