Although the effective rate for many companies is much lower, finance chiefs still smart over the United States’ top marginal corporate income tax rate of 39%, the highest such rate among the 34 countries in the Organization for Economic Cooperation and Development. How much do you know about tax rates in the rest of the world? Take our quiz and find out.
1. This country has the highest corporate income tax rate in the world, 55%:
B. United Arab Emirates
2. Among countries with a corporate income tax, these two countries have the lowest marginal corporate tax rate in the world, 8.0%:
A. Albania and Iraq
B. Macao and Oman
C. Paraguay and Qatar
D. Turkmenistan and Uzbekistan
3. The U.S. is one of four countries that have a corporate tax rate over 35%. How many countries have corporate tax rates between 0% and 20%?
4. Ten countries currently have no general corporate income taxes, including three of the countries below. Which of the countries below does have a corporate income tax?
5. In 2003, the worldwide average top marginal corporate tax rate was about 30%. In 2015, the average rate was approximately:
6. Rank these regions by average top marginal corporate tax rate, from highest (28.77%) to lowest (18.70%):
C. North America
D. South America
7. Rank these groups of nations by average top marginal corporate tax rate, from highest (30.70%) to lowest (22.37%):
Source: Tax Foundation, “Corporate Income Tax Rates Around the World, 2015,” study of 173 countries and tax jurisdictions
Answers: 1–B; 2–D; 3–D; 4–D; 5–B; 6–A, D, C, F, B, E; 7–B, D, A, C