Corporate Tax

Corporate tax rates table by KPMG

When performing Discounted Cash Flow (DCF) analysis, one can't work without corporate tax rates. KPMG produces a very comprehensive table each and every year, which can be found here on their website. For your convenience, I copy-pasted the table in an Excel spreadsheet which is shown here, and can be downloaded here.

This document may contain differences from the KPMG document, due to non-intentional erroneous copy-pasting by my side, so please check the data yourself at the source.

Location2018201720162015201420132012201120102009200820072006200520042003
Afghanistan20.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.000.000.000.000.00
Albania15.0015.0015.0015.0015.0010.0010.0010.0010.0010.0010.0020.0020.0023.0025.0025.00
Algeria26.0026.0026.0026.0019.0025.00          
Andorra10.0010.00              
Angola30.0030.0030.0030.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.00
Anguilla0.000.00              
Antigua and Barbuda25.0025.00              
Argentina30.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.00
Armenia20.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.00
Aruba25.0025.0025.0025.0028.0028.0028.0028.0028.0028.0028.0028.0035.0035.00  
Australia30.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.00
Austria25.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0034.0034.00
Azerbaijan20.0020.00              
Bahamas0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Bahrain0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Bangladesh25.0025.0025.0025.0027.5027.5027.5027.5027.5027.5030.0030.0030.0030.0030.0030.00
Barbados25.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0030.0033.0036.00
Belarus18.0018.0018.0018.0018.0018.0018.0024.0024.0024.0024.0024.0024.0024.0024.0024.00
Belgium29.0033.9933.9933.9933.9933.9933.9933.9933.9933.9933.9933.9933.9933.9933.9933.99
Benin30.0030.00              
Bermuda0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Bolivia25.0025.0025.0025.0025.0025.0025.0025.0025.00       
Bonaire, Saint Eustatius and Saba25.0025.000.000.000.000.000.00         
Bosnia and Herzegovina10.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.00
Botswana22.0022.0022.0022.0022.0022.0022.0022.0025.0025.0025.0025.0025.0025.0025.0025.00
Brazil34.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.00
Brunei Darussalam18.5018.50              
Bulgaria10.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0015.0015.0019.5023.50
Burkina Faso28.0027.50              
Burundi30.0030.00              
Cambodia20.0020.0020.0020.0020.0020.0020.0020.0020.00       
Cameroon33.0033.0033.0033.00            
Canada26.5026.5026.5026.5026.5026.0026.0028.0031.0033.0033.5036.1036.1036.1036.1036.60
Cayman Islands0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Chile26.0025.5024.0024.0020.0020.0018.5020.0017.0017.0017.0017.0017.0017.0017.0016.50
China25.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0033.0033.0033.0033.0033.00
Colombia33.0034.0025.0025.0025.0025.0033.0033.0033.0033.0033.0034.0035.0035.0035.0035.00
Congo (Democratic Republic of the)35.0035.00              
Costa Rica30.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0036.00
Croatia18.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.00
Curacao22.0022.0022.0022.0027.5027.5027.5034.50        
Cyprus12.5012.5012.5012.5012.5012.5010.0010.0010.0010.0010.0010.0010.0010.0015.0015.00
Czech Republic19.0019.0019.0019.0019.0019.0019.0019.0019.0020.0021.0024.0024.0026.0028.0031.00
Denmark22.0022.0022.0022.0024.5025.0025.0025.0025.0025.0025.0025.0028.0028.0030.0030.00
Djibouti25.0025.00              
Dominica25.0025.00              
Dominican Republic27.0027.0027.0027.0028.0029.0029.0029.0025.0025.0025.0025.0030.0025.0025.0025.00
Ecuador25.0022.0022.0022.0022.0022.0023.0024.0025.0025.0025.0025.0025.0025.0025.0025.00
Egypt23.0022.5022.5022.5025.0025.0025.0020.0020.0020.0020.0020.0020.0020.0042.0042.00
El Salvador30.0030.0030.0030.0030.0030.0030.00         
Estonia20.0020.0020.0020.0021.0021.0021.0021.0021.0021.0021.0022.0023.0024.0026.0026.00
Ethiopia30.0030.00              
Fiji20.0020.0020.0020.0020.0020.0028.0028.0028.0029.0031.0031.0031.0031.0031.0032.00
Finland20.0020.0020.0020.0020.0024.5024.5026.0026.0026.0026.0026.0026.0026.0029.0029.00
France33.0033.3333.3033.3333.3333.3333.3333.3333.3333.3333.3333.3333.3333.8334.3334.33
Gabon30.0030.00              
Gambia31.0031.00              
Georgia15.0015.0015.0015.0015.0015.00          
Germany30.0029.7929.7229.7229.5829.5529.4829.3729.4129.4429.5138.3638.3438.3138.2939.58
Ghana25.0025.0025.0025.0025.0025.00          
Gibraltar10.0010.0010.0010.0010.0010.0010.0010.0022.0027.0033.0035.0035.0035.0035.0035.00
Greece29.0029.0029.0029.0026.0026.0020.0020.0024.0025.0025.0025.0029.0032.0035.0035.00
Grenada30.0030.00              
Guatemala25.0025.0025.0025.0028.0031.0031.0031.0031.0031.0031.0031.0031.0031.0031.0031.00
Guernsey0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Honduras25.0025.0030.0030.0030.0035.0035.0035.0025.0030.0030.0030.0030.0030.0025.0025.00
Hong Kong SAR16.5016.5016.5016.5016.5016.5016.5016.5016.5016.5016.5017.5017.5017.5017.5016.00
Hungary9.009.0019.0019.0019.0019.0019.0019.0019.0016.0016.0016.0016.0016.0016.0018.00
Iceland20.0020.0020.0020.0020.0020.0020.0020.0018.0015.0015.0018.0018.0018.0018.0018.00
India35.0034.6134.6134.6133.9933.9932.4532.4433.9933.9933.9933.9933.6636.5935.8836.75
Indonesia25.0025.0025.0025.0025.0025.0025.0025.0025.0028.0030.0030.0030.0030.0030.0030.00
Iraq15.0015.0015.0015.0015.0015.00          
Ireland12.5012.5012.5012.5012.5012.5012.5012.5012.5012.5012.5012.5012.5012.5012.5012.50
Isle of Man0.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Israel23.0024.0025.0025.0026.5025.0025.0024.0025.0026.0027.0029.0031.0034.0035.0036.00
Italy24.0024.0031.4031.4031.4031.4031.4031.4031.4031.4031.4037.2537.2537.2537.2538.25
Ivory Coast25.0025.00              
Jamaica25.0025.0025.0025.0025.0025.0033.3333.3333.3333.3333.3333.3333.3333.3333.3333.33
Japan30.8630.8630.8633.8635.6438.0138.0140.6940.6940.6940.6940.6940.6940.6942.0042.00
Jersey20.0020.0020.0020.000.000.000.000.000.000.000.000.000.000.000.000.00
Jordan20.0020.0020.0020.0014.0014.0014.0014.0014.0025.0025.0025.0025.0025.0025.0025.00
Kazakhstan20.0020.0020.0020.0020.0020.0020.0020.0020.0020.0030.0030.0030.0030.0030.0030.00
Kenya30.0030.0030.0030.0030.0030.0030.00         
Korea, Republic of25.0022.0024.2024.2024.2024.2024.2022.0024.2024.2027.5027.5027.5027.5029.7029.70
Kuwait15.0015.0015.0015.0015.0015.0015.0015.0015.0015.0055.0055.0055.0055.0055.0055.00
Kyrgyzstan10.0010.00              
Latvia20.0015.0015.0015.0015.0015.0015.0015.0015.0015.0015.0015.0015.0015.0015.0019.00
Lebanon15.0015.0015.0015.0015.0015.00          
Libya20.0020.0020.0020.0020.0020.0020.0020.0040.0040.0040.0040.0030.3830.3830.3830.38
Liechtenstein12.5012.5012.5012.5012.5012.5012.5012.50        
Lithuania15.0015.0015.0015.0015.0015.0015.0015.0015.0020.0015.0015.0015.0015.0015.0015.00
Luxembourg26.0127.0829.2229.2229.2229.2228.8028.8028.5928.5929.6329.6329.6330.3830.3830.38
Macau12.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0015.00
Macedonia10.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0012.0015.0015.0015.0015.00
Madagascar20.0020.00              
Malawi30.0030.0030.0030.0030.0030.0030.00         
Malaysia24.0024.0024.0024.0025.0025.0025.0025.0025.0025.0026.0027.0028.0028.0028.0025.00
Malta35.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.00
Mauritius15.0015.0015.0015.0015.0015.0015.0015.0015.0015.0015.0022.5025.0025.0025.0025.00
Mexico30.0030.0030.0030.0030.0030.0030.0030.0030.0028.0028.0028.0029.0030.0033.0034.00
Moldova12.0012.0012.0012.00            
Monaco33.0033.33              
Mongolia25.0025.00              
Montenegro9.009.009.009.009.009.009.009.009.009.009.009.009.009.00  
Morocco31.0031.0031.0031.0030.0030.00          
Mozambique32.0032.0032.0032.0032.0032.0032.0032.0032.0032.0032.0032.0032.0032.0032.0032.00
Myanmar25.0025.00              
Namibia32.0032.0032.0033.0033.0033.0034.0034.00        
Netherlands25.0025.0025.0025.0025.0025.0025.0025.0025.5025.5025.5025.5029.6031.5034.5033.00
New Zealand28.0028.0028.0028.0028.0028.0028.0028.0030.0030.0030.0033.0033.0033.0033.0033.00
Nicaragua30.0030.00              
Nigeria30.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.00
Norway23.0024.0025.0027.0027.0028.0028.0028.0028.0028.0028.0028.0028.0028.0028.0028.00
Oman15.0015.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.0012.00
Pakistan30.0031.0032.0033.0034.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.00
Palestinian Territory15.0015.00              
Panama25.0025.0025.0025.0025.0025.0025.0025.0027.5030.0030.0030.0030.0030.0030.0030.00
Papua New Guinea30.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0027.00
Paraguay10.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0010.0020.0030.0032.00
Peru29.5029.5028.0028.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0027.00
Philippines30.0030.0030.0030.0030.0030.0030.0030.0030.0030.0035.0035.0035.0032.0032.0033.00
Poland19.0019.0019.0019.0019.0019.0019.0019.0019.0019.0019.0019.0019.0019.0019.0027.00
Portugal21.0021.0021.0021.0023.0025.0025.0025.0025.0025.0025.0025.0027.5027.5027.5025.00
Qatar10.0010.00 10.0010.0010.0010.0010.0010.0035.0035.0035.0035.0035.0035.0035.00
Romania16.0016.0016.0016.0016.0016.0016.0016.0016.0016.0016.0016.0016.0016.0025.0025.00
Russia20.0020.0020.0020.0020.0020.0020.0020.0020.0020.0024.0024.0024.0024.0024.0024.00
Rwanda30.0030.00              
Saint Kitts and Nevis33.0033.00              
Saint Lucia30.0030.00              
Saint Vincent and the Grenadines33.0032.50              
Samoa27.0027.0027.0027.0027.0027.0027.0027.0027.0027.0027.0027.0029.0029.0029.0029.00
Saudi Arabia20.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0030.0030.0030.00
Senegal30.0030.00              
Serbia15.0015.0015.0015.0015.0015.0010.0010.0010.0010.0010.0010.0010.0010.0012.3314.00
Sierra Leone30.0030.0030.0030.0030.00           
Singapore17.0017.0017.0017.0017.0017.0017.0017.0017.0018.0018.0020.0020.0020.0022.0022.00
Sint Maarten (Dutch part)35.0034.5034.5034.5034.5034.5034.5034.50        
Slovakia21.0021.0022.0022.0022.0023.0019.0019.0019.0019.0019.0019.0019.0019.0019.0025.00
Slovenia19.0019.0017.0017.0017.0017.0018.0020.0020.0021.0022.0023.0025.0025.0025.0035.00
Solomon Islands30.0030.00              
South Africa28.0028.0028.0028.0028.0028.0034.5534.5534.5534.5534.5536.8936.8937.7837.7837.78
Spain25.0025.0025.0028.0030.0030.0030.0030.0030.0030.0030.0032.5035.0035.0035.0035.00
Sri Lanka28.0028.0015.0028.0028.0028.0028.0028.0035.0035.0035.0035.0032.5032.5035.0028.00
St Maarten35.0034.5034.5024.50            
Sudan35.0035.0035.0035.0035.0035.0035.0035.0015.0015.0015.0030.0035.0035.0035.0035.00
Suriname36.0036.0034.5034.5034.5036.00          
Swaziland28.0027.50              
Sweden22.0022.0022.0022.0022.0022.0026.3026.3026.3026.3028.0028.0028.0028.0028.0028.00
Switzerland18.0017.7717.9217.9217.9218.0118.0618.3118.7518.9619.2020.6321.3021.9924.1025.00
Syria28.0028.0022.0022.0022.0022.0028.0028.0028.0028.0028.0028.0035.0035.0035.0035.00
Taiwan20.0017.0017.0017.0017.0017.0017.0017.0017.0025.0025.0025.0025.0025.0025.0025.00
Tanzania30.0030.0030.0030.0030.0030.0030.0030.0030.0030.00      
Thailand20.0020.0020.0020.0020.0020.0023.0030.0030.0030.0030.0030.0030.0030.0030.0030.00
Trinidad and Tobago25.0025.0025.0025.0025.0025.0025.00         
Tunisia25.0025.0025.0025.0025.0030.0030.0030.0030.0030.0030.0030.0035.0035.0035.0035.00
Turkey22.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0020.0030.0033.0030.00
Turkmenistan20.0020.00              
Turks and Caicos Islands0.000.00              
Uganda30.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.0030.00
Ukraine18.0018.0018.0018.0018.0019.0021.0025.0025.0025.0025.0025.0025.0025.0025.0030.00
United Arab Emirates55.0055.0055.0055.0055.0055.0055.0055.0055.0055.0055.0055.0055.0055.0055.0055.00
United Kingdom19.0019.0020.0020.0021.0023.0024.0026.0028.0028.0030.0030.0030.0030.0030.0030.00
United States27.0040.0040.0040.0040.0040.0040.0040.0040.0040.0040.0040.0040.0040.0034.0034.00
Uruguay25.0025.0025.0025.0025.0025.0025.0025.0025.0025.0025.0030.0030.0030.0030.0035.00
Uzbekistan7.507.507.50             
Vanuatu0.0034.000.000.000.000.000.000.000.000.000.000.000.000.000.000.00
Venezuela34.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.0034.00
Vietnam20.0020.0022.0022.0022.0025.0025.0025.0025.0025.0028.0028.0028.0028.0028.0032.00
Yemen20.0020.0020.0020.0020.0020.0020.0020.0035.0035.0035.0035.0035.0035.0035.0035.00
Zambia35.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.0035.00
Zimbabwe25.0025.0025.7525.7525.7525.7525.7525.7525.7530.9030.9030.9030.9030.9030.9030.90