Corporate tax rates by country

No corporate income tax. Businesses pay an annual business licence fee on turnover (about 0.25%–1.5% on a sliding scale) rather than a profit tax. A 15% Domestic Minimum Top-up Tax applies from 2025 only to in-scope multinational groups with revenue of EUR 750 million or more.

No general corporate income tax. Oil, gas and petroleum activities are taxed at 46%. A 15% Domestic Minimum Top-up Tax (DMTT) applies from 1 January 2025 to multinational groups with consolidated revenue of EUR 750m or more.

Belize has no standard corporate income tax rate; domestic businesses pay Business Tax on gross revenue at rates from about 0.75% to 19% depending on sector (standard small business rates cited around 1.75%). Income tax (25%) applies to some entities and sources. Offshore-type companies earning foreign income with no Belize activity are generally outside the tax net, but must meet economic substance rules (introduced 2019). Rates differ across sources, so verify with the Belize Tax Service.

0% for the vast majority of companies. Bermuda's Corporate Income Tax Act 2023 imposes a 15% tax on in-scope MNE groups (revenue EUR 750M+) for fiscal years beginning on or after 1 January 2025, with a Tax Credits Act 2025 offering credits for certain activities. Exempted companies pay annual government fees based on authorised capital.

No corporate income tax for BVI business companies, which are not permitted to trade locally with residents. Annual government licence fee starts at about US$450 (shares up to 50,000). Companies in relevant activities (banking, funds, financing, headquarters, shipping, holding, IP, distribution) must satisfy economic substance and file annual returns.

No corporate income tax. Exempted companies pay annual government fees instead (about US$1,000 for companies with authorised capital up to US$50,000). A 15% Domestic Minimum Top-up Tax is under implementation for in-scope MNE groups with EUR 750M+ revenue. Entities carrying out 'relevant activities' (e.g. fund management, headquarters, distribution, financing) must pass economic substance tests.

0% standard rate; 10% for banking, domestic insurance, fiduciary and regulated activities; 20% for utilities, Guernsey property income and large retailers. A reform consultation in 2026 proposes extending the 10% band from 2027; large multinationals pay a 15% minimum tax from 2025.

0% standard rate for most companies; 10% on banking business and retail profits above GBP 500,000; 20% on income from Manx land, property and petroleum. Companies must be managed and controlled in the Island to be Manx tax-resident; large multinationals face a 15% minimum tax from 2025.

0% standard rate; 10% for regulated financial services businesses; 20% for utilities and income from Jersey land and property (including development). Large multinationals pay a 15% minimum top-up tax from 2025.

No corporate income tax. Companies pay annual licence and registration fees. A 15% minimum tax is under implementation for in-scope MNE groups. The EU listing concerns economic substance enforcement and tax transparency, and the territory disputes the characterisation.

No corporate income tax, no capital gains tax, no dividend, interest or royalty withholding tax and no inheritance tax. Revenue comes from VAT, import duties and licence fees. Vanuatu has been subject to economic substance rules for relevant activities since 2019.

4% applies only to eligible export-services income under an Act 60 (Puerto Rico Incentives Code) decree from DDEC; ordinary corporate income is taxed at 18.5% with a surtax rising to a maximum of about 37.5%. Services to Puerto Rico clients do not qualify. Applications run through DDEC; reported processing is three to six months and fees run into several thousand dollars. 2026 legislative changes to Act 60 reportedly focused on the individual investor chapter and left the export-services rate unchanged, so verify with DDEC.

9% corporate income tax, plus local business tax up to 2% of adjusted gross margin and a 0.3% innovation contribution. KIVA flat small-business regime (about 10%–11%) is optional. Pillar Two 15% applies to large groups.

Progressive since 2022: 9% on taxable profit up to EUR 100,000; 12% (EUR 9,000 plus 12% of the excess) from EUR 100,000 to EUR 1.5 million; 15% above EUR 1.5 million. A 15% global minimum tax law for large groups was adopted in February 2026.

9% on taxable profit above AED 375,000 (0% up to that threshold). 0% on qualifying income of a Qualifying Free Zone Person (QFZP) that meets substance and de minimis rules; non-qualifying income is taxed at 9%. Small Business Relief (revenue up to AED 3m) lets eligible companies be treated as having no taxable income; the Ministry of Finance has reportedly extended it to tax periods ending on or before 31 Dec 2029 (originally 2026), and QFZPs cannot use it. A 15% Domestic Minimum Top-up Tax applies from 2025 to multinational groups with consolidated revenue of EUR 750m or more. All taxable persons, including 0% free zone companies, must register with the FTA.

General 10% corporate income tax; 2% for new companies in their early years under certain conditions, reduced rates for qualifying holding and international trading income, and a minimum tax-payable mechanism.

Flat 10% corporate income tax, the lowest headline rate in the EU. Pillar Two 15% top-up applies only to very large groups. A proposed rise in the dividend rate to 10% in the 2026 budget draft was dropped.

10% on profit for taxpayers with annual revenue up to EUR 1,000,000 and 18% above that; a 15% minimum tax applies to large groups under Pillar Two.

Flat 10% on taxable profit. Companies in Technological Industrial Development Zones (TIDZ) are exempt from corporate and personal income tax for 10 years.

Flat 10% IRE (Impuesto a la Renta Empresarial) on Paraguayan-source income. Foreign-source income is not taxed. The Maquila regime offers a 1% single tax on value added in exports for qualifying manufacturing and services, and Law 60/90 gives investment incentives.

10% on taxable profit attributable to non-Qatari/non-GCC ownership (including in the Qatar Financial Centre, which has its own 10% regime). Qatari and GCC-owned shares are exempt. A 15% Domestic Minimum Top-up Tax applies to large multinational groups from 2025. Oil and gas operators are taxed at 35% or more.

12.5% on trading income, 25% on passive income; 15% under Pillar Two for groups with revenue of EUR 750m or more. Knowledge Development Box 10% and 30% R&D credit (a rise to 35% from 2026 was announced). Start-up relief exempts CT on early profits.

Flat 12.5% on profit, with a minimum annual tax of CHF 1,800. A notional interest deduction of 4% on adjusted equity can lower the effective rate to well below 12.5% for capital-heavy companies.

Federal CIT is 8.5% of profit after tax (about 7.8% pre-tax); cantons and municipalities add the rest. Combined rates run from about 11.8% in Zug (Schwyz, Nidwalden, Lucerne are close) to about 20-21% in Bern and Geneva area cantons; 14.6% is a rough mid-point. Large groups (EUR 750m+) face a 15% minimum top-up tax from 2024.

15% federal general rate plus provincial rate (8%–16%), giving a combined general rate of roughly 23% (Alberta) to 31% (Nova Scotia), about 26.5% in Ontario. Canadian-controlled private corporations pay a small-business rate (roughly 9%–12% combined) on the first C$500,000 of active business income. SR&ED credits refund up to 35% of qualifying R&D for CCPCs.

15% from 1 Jan 2026 (previously 12.5%). IP box gives an effective rate of about 2.5%; dividend income and share-sale gains are generally exempt; notional interest deduction on new equity.

Estonian-style: 0% on retained profit, 15% on distributed profit (15/85 of net). Virtual Zone IT companies (exporting software/IT services) and International Companies get 0% or 5% regimes subject to approval. Small Business Status (1% of turnover up to GEL 500,000) is for individual entrepreneurs, not LLCs.

15% corporation tax plus 5.5% solidarity surcharge on that tax (15.825%) and municipal trade tax (Gewerbesteuer) of about 7%–17%, giving about 30% combined. Rate falls by 1 percentage point per year from 2028 to 10% in 2032.

15% from 1 July 2024 under Legal Notice 217/2024 (previously 12.5% from August 2021 and 10% before); 20% for utilities, energy providers and companies abusing a dominant position. Tax applies only to income accrued in or derived from Gibraltar; a 15% global minimum tax applies to large groups.

Flat 15% corporate income tax. An 80% partial exemption applies to specified income (foreign dividends, interest, ship leasing, reinsurance and others) when substance conditions are met, giving an effective 3% rate, though companies using the exemption cannot also claim foreign tax credits on the same income. A 15% qualified domestic minimum top-up tax applies to large multinational groups from July 2025. The Fair Share Contribution charges extra on high-profit companies.

15% on taxable profit (cut from 30% in 2022). Small companies with turnover under OMR 100,000 can pay 3% and certain free zone companies get exemptions. Oil and gas companies are taxed at 55%. A 15% domestic top-up tax for large multinational groups has been introduced from 2025.

Flat 15% on taxable profit with no municipal surcharge. IP-box regime taxes qualifying IP income at an effective 3%.

16% standard rate. Micro-enterprises (turnover up to EUR 100,000 from 2026, with at least one employee) pay 1% of revenue; the 3% bracket was abolished. Minimum turnover tax applies to large companies. Check for further changes planned for 2027.

Two-tier profits tax for corporations: 8.25% on the first HK$2m of assessable profits and 16.5% on the rest (only one connected entity per group can claim the lower tier). Only profits arising in or derived from Hong Kong are taxed (territorial); genuinely offshore profits can be exempt on an offshore claim, but the IRD scrutinises them closely. Since 2023 the foreign-sourced income exemption (FSIE) regime taxes certain foreign passive income received in Hong Kong unless economic substance rules are met. A 15% top-up tax (HKMTT) applies from 2025 to large multinational groups.

17% from 2026 (16% in 2025). Small companies (revenue up to EUR 300,000, up to 10 employees) pay 7%, and newly registered small companies may pay 0% for their first two tax periods. Patent box 5% and 300% R&D super-deduction.

Flat 17% corporate income tax. New companies get a start-up exemption for their first three years of assessment (75% of the first S$100,000 and 50% of the next S$100,000 exempt); other companies get a partial exemption (75% of the first S$10,000 and 50% of the next S$190,000). Foreign-sourced income is taxed only when received in Singapore, with conditions for exemption. A 15% Domestic Top-up Tax applies from 2025 to large multinational groups.

18% on profit under the general regime; 20% VAT applies above the AMD 115 million turnover threshold. Qualifying micro-businesses (turnover up to AMD 24 million, about USD 62,000) benefit from reduced or zero income tax, and licensed high-tech companies can pay 1% turnover tax.

19% standard CIT; 9% for small taxpayers and new companies with revenue up to EUR 2m. Estonian CIT option: no tax on retained profit, 10% (small) or 20% on distribution. IP Box 5% on qualifying IP income. Check thresholds annually.

19% on mainland in 2026, falling to 18% in 2027 and 17% in 2028. SMEs pay 15% on the first EUR 50,000. Municipal surcharge up to 1.5% and state surcharge of up to 9% on high profits. Madeira and Azores have lower regional rates.

0% on retained and reinvested profit; 20% on distributed profit (calculated on the gross amount, i.e. 20/80 of the net dividend). From 2026 companies owned only by individuals can opt for 15% CIT plus 6% PIT withholding on dividends (combined about 21%).

20% corporate income tax on the foreign-owned share of profits. The Saudi/GCC-owned share is subject to zakat at 2.5% of the zakat base instead. Oil and gas hydrocarbon activities are taxed at 50-85%. Qualifying Regional Headquarters (RHQ) programme participants get a 30-year 0% rate on qualifying activities.

20% corporate income tax, with a relief for small profits (income up to TWD 120,000 is exempt and the tax on income between TWD 120,000 and 200,000 is capped at half of the excess). Undistributed earnings are subject to an additional 5% surtax. Companies with annual taxable income of TWD 500,000 or more may also be subject to the Alternative Minimum Tax. A 15% top-up tax applies to large multinationals from 2025.

20% standard rate. SMEs with paid-up capital of THB 5m or less and annual revenue up to THB 30m pay 0% on the first THB 300,000, 15% on THB 300,001-3m, and 20% above. BOI-promoted companies can receive 3-13 years of corporate tax exemption. A 15% top-up tax applies to large multinational groups from 2025.

20% standard rate. Under the 2025 Corporate Income Tax Law, small enterprises with low turnover can pay a reduced 15% or 17% rate (thresholds around VND 3bn and VND 50bn; check the latest decree). Preferential rates of 10-17% and tax holidays apply to high-tech, software, manufacturing and encouraged sectors. A 15% top-up tax applies to large multinational groups from 2024.

Flat 20.6% corporate income tax; losses can be carried forward indefinitely, and the Swedish Tax Agency applies tax-free allocations to periodisation funds of up to 25%.

21% corporate income tax since 2024 (previously 19%). Pillar Two applies to large groups. Research deduction of 100% available.

21% federal on C-corporations (e.g. a Delaware C-Corp), plus state corporate tax where the company operates (0% in Wyoming/South Dakota/Nevada-style states; roughly 2.5%–9%+ elsewhere; Delaware 8.7% only on in-state income). A single-member LLC owned by a non-US person is a disregarded entity: no US federal income tax if it has no US-source effectively connected income (ECI) or US trade or business, but it must file Form 5472 with a pro-forma Form 1120 every year (penalty $25,000 per missed form). US-source FDAP income is subject to 30% withholding unless a treaty reduces it.

Flat 22% corporate income tax. Dividends and royalties paid abroad are subject to withholding tax unless exempt under EU directives or treaties.

0% on retained and reinvested profit. 22% applies only on distributions (dividends, deemed profit distributions), calculated as 22/78 of the net amount paid out. The increase to 24% planned for 2026 was cancelled in late 2025; the 14/86 reduced rate for regular payers was abolished from 1 Jan 2025.

22% corporate income tax plus 5% final tax on dividends. Lower rates (such as 10% for qualified startups) can apply in specific regimes.

22% standard rate (listed companies with 40%+ public float get a 3-point discount). Small businesses with turnover up to IDR 4.8bn can pay a 0.5% final tax on gross turnover for a limited period, and companies with turnover up to IDR 50bn get a 50% reduction on the first IDR 4.8bn of profit. A 15% top-up tax applies to large multinational groups from 2025.

Flat 23% corporate income tax (KoeSt) since 2024; a minimum corporate tax of EUR 500 per year applies to GmbHs and FlexCos even in loss years.

2025-2026 combined rate in Luxembourg City: 16% CIT plus 7% employment-fund surcharge plus 6.75% municipal business tax. Lower CIT bands apply to taxable income up to EUR 200,000. A further 1-point CIT cut from 2027 has been proposed in Budget 2027 but is not yet law.

IRES 24% plus regional IRAP of about 3.9% on a net production-value base (combined roughly 27.9%). Reduced IRES 20% or lower for qualifying reinvestment from 2025.

24% standard rate. Resident SMEs (paid-up capital up to RM2.5m, gross income under RM50m) pay 15% on the first RM150,000, 17% on the next RM450,000 and 24% above. Malaysia taxes income accruing in or derived from Malaysia; foreign-source income received by companies is taxable from 2022 with an exemption for dividends and some categories subject to conditions. Foreign-sourced dividend and other conditional exemptions for individuals run to 2036.

25% on resident companies' profits; banks and some sectors differ. International Business Corporations (IBCs) are exempt from local tax on foreign income under the IBC Act, with annual fees. Antigua's ABST applies to local supply.

25% standard; 15% on the first EUR 42,500 of profit for SMEs with turnover up to EUR 10m owned by individuals. Temporary exceptional surtax on very large groups in 2025–2026. IP box 10% on qualifying IP income.

25% on profits of companies carrying on commercial activity that generate more than 25% of turnover outside Monaco; companies with mostly in-Monaco revenue are generally outside the scope of corporate income tax. New-company transitional relief may apply.

25% on Panama-source income; foreign-source income is not taxed (territorial principle). Group entities earning foreign passive income (dividends, interest, royalties, capital gains) keep 0% only if they meet economic substance requirements, otherwise 15% applies. Companies above USD 1.5M taxable income face the CAIR alternative minimum (4.67% of gross income). Annual Tasa Única of USD 300 for companies.

25% regular corporate income tax. Domestic corporations with net taxable income of PHP 5m or less and total assets under PHP 100m (excluding land) pay 20%. PEZA and other registered export enterprises can get a 5% gross income earned tax or income tax holidays of 4-7 years under CREATE and CREATE MORE, followed by 5-27% rates and enhanced deductions. A 15% top-up tax is planned for large multinational groups.

Business tax on Seychelles-source income is progressive at 25% on the first SCR 1,000,000 of taxable income and 33% above, for resident and non-resident entities (bands amended by SI 107 of 2024, effective 2025; confirm with the Seychelles Revenue Commission). International Business Companies (IBCs) and Companies (Special Licence) are taxed on a territorial basis: foreign-source income is generally not taxed, and the old 1.5% preferential rate for special licence companies ended in 2021. The Economic Substance regime applies to relevant activities.

Progressive national rates from 1 January 2026 (fiscal years starting on or after that date): 10% up to KRW 200m, 20% to KRW 20bn, 22% from KRW 20bn to 300bn and 25% above KRW 300bn, each one percentage point higher than the 2025 rates (9/19/21/24%). A 10% local income surtax is added, so most SMEs pay 11% to 22%. A 15% top-up tax regime applies to large multinational groups. A pending bill may lower the bottom bracket for small companies, so confirm with the National Tax Service.

25% general rate. New companies pay 15% for their first two profitable years; certified startups 15% for four years; small companies (turnover under EUR 1m) pay reduced phased-in rates (around 21%–19%). Pillar Two applies to large groups.

25% standard rate (financial institutions pay 30%); a minimum corporate tax of 10% of pre-deduction profit applies since 2025. Technology Development Zone companies pay no corporate tax on software and R&D income (currently to 2028).

25% main rate on profits above GBP 250,000; 19% small profits rate up to GBP 50,000; marginal relief in between (about 26.5% effective on that band). R&D relief and 10% Patent Box available.

25% IRAE on Uruguayan-source income; free trade zone users (e.g. Zonamerica) pay 0% IRAE on zone activity. Foreign-source income is generally not taxed for companies. The Software law and Law 16.906 investment incentives give partial exemptions for tech and large investments.

22% base rate under Section 115BAA (effective 25.17% with 10% surcharge and 4% cess) for domestic companies that forgo most deductions; 25-30% under the older regime. Foreign companies pay 35% (plus surcharge and cess) on Indian income. The 15% rate for new manufacturing companies (Section 115BAB) lapsed for companies starting production after March 2024. DPIIT-recognised startups can claim a three-year tax holiday within their first 10 years, subject to the deadlines in the Act.

19% on the first EUR 200,000 of taxable profit and 25.8% above that. Innovation Box 9% on qualifying IP income. Participation exemption on qualifying dividends and gains.

27% under the semi-integrated general regime (Primera Categoría). The Pro-Pyme regime for small companies (revenue up to about 75,000 UF) taxes at 25%, with transitional lower rates; the 14 D No. 8 option taxes owners directly on cash basis. Dividends are taxed at 35% in the hands of non-resident shareholders with a credit for 65% of the corporate tax paid.

Flat 28% company tax rate. Imputation credits let resident shareholders offset company tax on dividends. A 15% minimum tax applies to large multinational groups from 2025. Look-through companies (LTCs) pass profits to owners at personal rates.

Effective statutory rate of about 29.74% for large companies in Tokyo (national 23.2% plus local corporate, enterprise and inhabitant taxes). Small companies (capital of JPY 100m or less) pay a reduced 15% national rate on the first JPY 8m of income, for an effective rate of about 21-34% depending on profit and location. Japan has applied a 15% top-up tax regime for large multinationals since fiscal years beginning April 2024.

30% standard rate. Base rate entities (aggregated turnover under A$50m and no more than 80% passive income) pay 25%. Franking credits let resident shareholders offset company tax. The R&D tax incentive gives a refundable offset of 18.5 percentage points above the corporate rate for turnover under A$20m. A 15% domestic minimum tax applies to large multinational groups from 2024.

Progressive 5%–30% on Costa Rican-source income; small companies with gross income below roughly CRC 120M pay 5%–20%, larger ones 30%. Free Trade Zone (Régimen de Zona Franca) companies pay 0% for the first years and then 6%–15% on qualifying export and services activity. Foreign-source income is generally outside the tax base, though 2019 reforms tax passive foreign income received by residents (dividends/interest) at 5%–15%.

Flat 30% corporate income tax; employees' statutory profit sharing (PTU) of 10% of taxable profit applies. Individuals and some small businesses can use RESICO (1%–2.5% on gross income up to MXN 3.5M). Nearshoring incentives (Plan Mexico decree) offer accelerated deductions for certain investments.

33% on resident companies' profits (St Kitts). Nevis offshore entities (Nevis LLC, Business Corporation, trust) conducting no local business are exempt from Nevis tax, with annual registration fees. Hotel and approved enterprises may receive tax holidays.

Roughly 34% for general companies (25% IRPJ incl. surtax over BRL 240k/yr, plus 9% CSLL). Small businesses with revenue up to BRL 4.8M can use Simples Nacional (about 4%–33% on gross revenue, all-in), and Lucro Presumido taxes a presumed margin. The indirect tax reform replaces PIS/COFINS/ICMS/ISS with CBS and IBS in phases from 2026 to 2033.

Progressive 25% / 30% / 35% by taxable profit bracket (brackets indexed annually). The Knowledge Economy regime and the RIGI regime for large investments (from USD 200M) offer reduced rates and stability guarantees. Provincial turnover tax (Ingresos Brutos, typically 1%–5% of revenue) and the debit/credit tax apply.

35% corporate income tax with a 15% minimum tax on adjusted book profit. Free Trade Zone (Zona Franca) companies pay 20%; certain new tech and creative-economy companies and remote areas (ZESE) have lower or temporary rates. ICA municipal turnover tax (0.2%–1.4% of gross income) and the 4x1000 financial transactions tax also apply.

35% statutory rate; on distribution shareholders claim refunds (6/7 for trading income, 5/7 for passive income, 2/3 for participation-holding income), giving effective rates of about 5%–10%. An optional 15% final-tax route was introduced in 2025. Pillar Two applies to large groups.