With the Presidential election less than 90-days away, one of the items that Presidential candidate Joe Biden has promised is to return to the corporate income tax of 2016. You can read Biden’s plan over at the Tax Foundation. This prompted me to look at corporate tax rates of all countries around the globe. I found a great site over at Trading Economics listing them.

With the quantities of countries listed along with the restricted space to list them, I decided to focus on the G20 countries. If you want to look at countries that are not listed here, click on Trading Economics and go to their complete list.

Corp.
Country Tax Rate
Brazil 34
France 33
Japan 31
Argentina 30
Australia 30
Germany 30
Mexico 30
South Africa 28
Canada 27
India 25
China 25
Netherlands 25
South Korea 25
Spain 25
Italy 24
Indonesia 22
Turkey 22
United States 21
Russia 20
Saudi Arabia 20
United Kingdom 19
Switzerland 18
Singapore 17

 

I am of the belief that the reduction of the corporate tax rate by President Trump and Congress was the reason why we had such a robust economy leading up to the CCP Virus. Just think of what will happen post the pandemic with a higher corporate tax rate that Biden and his party are promoting if he becomes President.

Freedom Through Self-Reliance

 

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