Tax revenue as a percent of GDP is one metric many use to gauge how much corporate income tax revenue the United States is raising. The advantage of this metric is that it controls for the size of the economy and gives...
- The Tax Policy Blog
- U.S. Corporate Income Tax Rate Approaching Twice the World Average
U.S. Corporate Income Tax Rate Approaching Twice the World Average
KPMG has released their annual survey of corporate and indirect tax rates:
"Our 2011 survey of the world's corporate and indirect tax rates continues the story told in earlier years. Corporate tax rates have been steadily falling for a decade in many countries, while value added tax and goods and services tax (VAT/GST) systems have proliferated across the globe, rising each year to higher rates and applying to more items as indirect tax systems mature. Some commentators have wondered if these dual trends were temporary anomalies that would reverse over time. Based on our reading of this year's survey results, the chance of a return to the pre-2000 status quo is remote and the global re-balancing of corporate and indirect taxes will continue."
The following graph illustrates just how dramatic the decline in corporate tax rates has been over the last decade, that is everywhere except the U.S.
Follow William McBride on Twitter @EconoWill
Buy this blogger a cup of coffee!
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.