It’s that time of year when taxes are on everyone’s minds. Individuals and businesses alike have to report their income to the Internal Revenue Service, but tax rates for everyday people are much different than the tax rates for corporations. In 2017, the Tax Cuts and Jobs Act reduced the corporate tax rate in the United States to a flat 21%.
Did you know that there are several countries in the world where corporations don’t have to pay any taxes at all? Islands like Bermuda, the Cayman Islands, Anguilla, and the Bahamas are all completely corporate-tax-free places, making them tax havens for major companies. Many of these locations are also income tax-free!
This infographic from TitleMax.com features a breakdown of the corporate tax rates around the world. Whether you’re starting your own business or just curious as to where corporations pay the most taxes, see how corporate tax rates compare around the world!
infographic by: www.titlemax.com