The World's Highest Corporate Tax Rates 2010

Countries That Tax The Most

With both economic growth and corporate profits under extreme pressure these days, corporate tax rates are under greater scrutiny around the globe. The (OECD) has tracked corporate tax data from its member countries every year since 1981. The tax rates listed here are “combined corporate income tax rates,” a number that includes both national and local levies. It should be noted that the OECD only compiles corporate tax data on its which do not include the BRIC nations, as these countries are no
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With both economic growth and corporate profits under extreme pressure these days, corporate tax rates are under greater scrutiny around the globe.

The Organization for Economic Cooperation and Development(OECD) has tracked corporate tax data from its member countries every year since 1981. The tax rates listed here are “combined corporate income tax rates,” a number that includes both national and local levies.

It should be noted that the OECD only compiles corporate tax data on its 30 member countries,which do not include the BRIC nations, as these countries are not currently full members.

So, which countries have the highest corporate tax rates? Click ahead to find out! And in case you were wondering, the lowest rates for OECD member countries are in Ireland (12.5%) and Iceland (15%). GDP growth forecasts are from the IMF, unless otherwise noted.

By Paul Toscano
Posted 14 Dec 2010

10. Canada

Combined Corporate Income Tax Rate: 29.52% Current rate in place since: 2010 2009: Reduced to 31.32% 2008: Reduced to to 31.72% 2007: Reduced to 34.09% from 34.36%, a rate in place since 2004.
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Combined Corporate Income Tax Rate: 29.52%
Current rate in place since: 2010
2010 forecasted GDP growth: +3.6%

Last Three Rate Changes
2009: Reduced to 31.32%
2008: Reduced to to 31.72%
2007: Reduced to 34.09% from 34.36%, a rate in place since 2004.

6. (Tied) New Zealand

Combined Corporate Income Tax Rate: 30% Current rate in place since: 2008 2008: Reduced to 30% 1989: Raised to 33% 1988: Reduced to 28% from 48%, a rate in place since 1986.
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Combined Corporate Income Tax Rate: 30%
Current rate in place since: 2008
2010 forecasted GDP growth: +3%

Last Three Rate Changes
2008: Reduced to 30%
1989: Raised to 33%
1988: Reduced to 28% from 48%, a rate in place since 1986.

6. (Tied) Spain

Combined Corporate Income Tax Rate: 30% Current rate in place since: 2008 2008: Reduced to 30% 2007: Reduced to 32.5% 2006: Raised to 35% from 33%, a rate in place since 1981.
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Combined Corporate Income Tax Rate: 30%
Current rate in place since: 2008
2010 forecasted GDP growth: -0.4%

Last Three Rate Changes
2008: Reduced to 30%
2007: Reduced to 32.5%
2006: Raised to 35% from 33%, a rate in place since 1981.

6. (Tied) Australia

Combined Corporate Income Tax Rate: 30% Current rate in place since: 2001 2001: Reduced to 30% 2000: Reduced to 34% 1999: Raised to 36% from 33%, a rate in place since 1993.
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Combined Corporate Income Tax Rate: 30%
Current rate in place since: 2001
2010 forecasted GDP growth: +3.3%

Last Three Rate Changes
2001: Reduced to 30%
2000: Reduced to 34%
1999: Raised to 36% from 33%, a rate in place since 1993.

6. (Tied) Mexico

Combined Corporate Income Tax Rate: 30% Current rate in place since: 2010 2010: Raised to 30% 2000: Reduced to 28% 1999: Reduced to 29% from 30%, a rate in place since 2004.
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Combined Corporate Income Tax Rate: 30%
Current rate in place since: 2010
2010 forecasted GDP growth: +4.5%

Last Three Rate Changes
2010: Raised to 30%
2000: Reduced to 28%
1999: Reduced to 29% from 30%, a rate in place since 2004.

5. Germany

Combined Corporate Income Tax Rate: 30.18% Current rate in place since: 2008 2008: Reduced to 30.18% 2004: Reduced to 38.9% 2003: Raised to 40.2% from 38.9%, a rate in place since 2001.
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Combined Corporate Income Tax Rate: 30.18%
Current rate in place since: 2008
2010 forecasted GDP growth: +1.4%

Last Three Rate Changes
2008: Reduced to 30.18%
2004: Reduced to 38.9%
2003: Raised to 40.2% from 38.9%, a rate in place since 2001.

4. Belgium

Combined Corporate Income Tax Rate: 33.99% Current rate in place since: 2003 2003: Reduced to 33.99% 1993: Raised to 40.2% 1991: Reduced to 39.0% from 41%, a rate in place since 1990.
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Combined Corporate Income Tax Rate: 33.99%
Current rate in place since: 2003
2010 forecasted GDP growth: +1.6%*

Last Three Rate Changes
2003: Reduced to 33.99%
1993: Raised to 40.2%
1991: Reduced to 39.0% from 41%, a rate in place since 1990.

*Source: Global Finance

3. France

Combined Corporate Income Tax Rate: 34.43% Current rate in place since: 2006 2006: Reduced to 34.43% 2005: Reduced to 34.95% 2004: Reduced to 35.43% from 36.43%, a rate in place since 2001
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Combined Corporate Income Tax Rate: 34.43%
Current rate in place since: 2006
2010 forecasted GDP growth: +1.4%

Last Three Rate Changes
2006: Reduced to 34.43%
2005: Reduced to 34.95%
2004: Reduced to 35.43% from 36.43%, a rate in place since 2001

2. United States

Combined Corporate Income Tax Rate: 39.21% Current rate in place since: 2008 Rates have fluctuated within the narrow range of 39.25% and 39.44% since 1998. The largest year-over-year changes since 1981 were 1986-1987 (49.8% to 44.2%) and 1987-1988 (44.2% to 38.6%).
Photo: Getty Images

Combined Corporate Income Tax Rate: 39.21%
Current rate in place since: 2008
2010 forecasted GDP growth: +3.3%

Recent Rate Changes
Rates have fluctuated within the narrow range of 39.25% and 39.44% since 1998. The largest year-over-year changes since 1981 were 1986-1987 (49.8% to 44.2%) and 1987-1988 (44.2% to 38.6%).

1. Japan

Combined Corporate Income Tax Rate: 39.54% Current rate in place since: 2004 2004: Reduced to 39.54% 1999: Reduced to 40.9% 1998: Reduced to 46.4% from 50%, a rate in place since 1990.*
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Combined Corporate Income Tax Rate: 39.54%
Current rate in place since: 2004
2010 forecasted GDP growth: +2.4%

Last Three Rate Changes
2004: Reduced to 39.54%
1999: Reduced to 40.9%
1998: Reduced to 46.4% from 50%, a rate in place since 1990.*

*OECD data only dates back to 1990.