Corporate tax is defined as the direct levy that is imposed on the income of a corporate entity as per the tax laws. In simpler words, all registered corporate bodies, in every country, have to pay back a percentage of their profits to the government as tax.
Interestingly, as this infographic demonstrates, corporate tax rates have no relationship to the nation’s overall GDP – for example, Nepal’s global GDP ranking is 102, but has the highest corporate tax rate at 45%, whereas USA’s (highest GDP) tax rate is only 21%. Check out the infographic for more fascinating insights.
Corporate Tax by Country Around the World:
Infographic by – TitleMax