ضريبة الشركات
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A corporate tax, also called corporation tax or company tax, is a direct tax imposed on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. A country's corporate tax may apply to:
- corporations incorporated in the country,
- corporations doing business in the country on income from that country,
- foreign corporations who have a permanent establishment in the country, or
- corporations deemed to be resident for tax purposes in the country.
Company income subject to tax is often determined much like taxable income for individual taxpayers. Generally, the tax is imposed on net profits. In some jurisdictions, rules for taxing companies may differ significantly from rules for taxing individuals. Certain corporate acts or types of entities may be exempt from tax.
The incidence of corporate taxation is a subject of significant debate among economists and policymakers. Evidence suggests that some portion of the corporate tax falls on owners of capital, workers, and shareholders, but the ultimate incidence of the tax is an unresolved question.[1]
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Economics
Legal framework
Definition of corporation
Types
Taxable income
The United States defines taxable income for a corporation as all gross income, i.e. sales plus other income minus cost of goods sold and tax exempt income less allowable tax deductions, without the allowance of the standard deduction applicable to individuals.[2]
The United States' system requires that differences in principles for recognizing income and deductions differing from financial accounting principles like the timing of income or deduction, tax exemption for certain income, and disallowance or limitation of certain tax deductions be disclosed in considerable detail for non-small corporations on Schedule M-3 to Form 1120.[3]
The United States taxes resident corporations, i.e. those organized within the country,[4] on their worldwide income, and nonresident, foreign corporations only on their income from sources within the country.[5] Hong Kong taxes resident and nonresident corporations only on income from sources within the country.[6]
Rates
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| Country | Tax/GDP | Country | Tax/GDP |
|---|---|---|---|
| Norway | 12.5 | Switzerland | 3.3 |
| Australia | 5.9 | Netherlands | 3.2 |
| Luxembourg | 5.1 | Slovakia | 3.1 |
| New Zealand | 4.4 | Sweden | 3.0 |
| Czechia | 4.2 | France | 2.9 |
| South Korea | 4.2 | Ireland | 2.8 |
| Japan | 3.9 | Spain | 2.8 |
| Italy | 3.7 | Poland | 2.7 |
| Portugal | 3.6 | Hungary | 2.6 |
| UK | 3.6 | Austria | 2.5 |
| Finland | 3.5 | Greece | 2.5 |
| Israel | 3.5 | Slovenia | 2.5 |
| OECD avg. | 3.5 | Germany | 1.9 |
| Denmark | 3.4 | Iceland | 1.9 |
| Belgium | 3.3 | Turkey | 1.8 |
| Canada | 3.3 | US | 1.8 |
Corporate tax rates across the Organisation for Economic Co-operation and Development (OECD) are shown in the table.
| Country | Corporate Income Tax rate (2019)[8] | Dividend Tax rate (2019)[8] | Integrated Corporate Tax rate (2019)[8] |
|---|---|---|---|
 أيرلندا |
12.5% | 51.0% | 57.1% |
 كوريا الجنوبية |
27.5% | 40.3% | 56.7% |
 Canada |
26.8% | 39.3% | 55.6% |
 France |
32.0% | 34.0% | 55.1% |
 الدنمارك |
22.0% | 42.0% | 54.8% |
 بلجيكا |
29.6% | 30.0% | 50.7% |
 الپرتغال |
31.5% | 28.0% | 50.7% |
 United Kingdom |
19.0% | 38.1% | 49.9% |
 إسرائيل |
23.0% | 33.0% | 48.4% |
 ألمانيا |
29.9% | 26.4% | 48.4% |
 United States |
21.0% | 29.3% | 47.6% |
 أستراليا |
30.0% | 24.3% | 47.0% |
 النرويج |
22.0% | 31.7% | 46.7% |
 النمسا |
25.0% | 27.5% | 45.6% |
 السويد |
21.4% | 30.0% | 45.0% |
 اليابان |
29.7% | 20.3% | 44.0% |
 Italy |
24.0% | 26.0% | 43.8% |
 Netherlands |
25.0% | 25.0% | 43.8% |
 فنلندا |
20.0% | 28.9% | 43.1% |
 إسپانيا |
25.0% | 23.0% | 42.3% |
 المكسيك |
30.0% | 17.1% | 42.0% |
 لوكسمبورگ |
24.9% | 21.0% | 40.7% |
 سلوڤنيا |
19.0% | 25.0% | 39.3% |
 اليونان |
28.0% | 15.0% | 38.8% |
 سويسرا |
21.1% | 21.1% | 37.8% |
 آيسلندا |
20.0% | 22.0% | 37.6% |
 تشيلي |
25.0% | 13.3% | 35.0% |
 تركيا |
22.0% | 17.5% | 35.0% |
 پولندا |
19.0% | 19.0% | 34.4% |
 نيوزيلندا |
28.0% | 6.9% | 33.0% |
 التشيك |
19.0% | 15.0% | 31.2% |
 لتوانيا |
15.0% | 15.0% | 27.8% |
 سلوڤاكيا |
21.0% | 7.0% | 26.5% |
 المجر |
9.0% | 15.0% | 22.7% |
 إستونيا |
20.0% | 0.0% | 20.0% |
 لاتڤيا |
20.0% | 0.0% | 20.0% |
The corporate tax rates in other jurisdictions include:
| Country | Corporate Income Tax rate | Dividend Tax rate | Integrated Corporate Tax rate |
|---|---|---|---|
 بلغاريا |
10.0% | 5.0% | 14.5% |
 الهند |
22% (2019) 15% (for newly incorporated manufacturing companies)[9] |
||
 روسيا |
20% (2015)[10] | ||
 سنغافورة |
17%, with significant exemptions for resident companies (2015)[11] |
In October 2021 some 136 countries agreed to enforce a corporate tax rate of at least 15% from 2023 after the talks on a minimum rate led by OECD for a decade.[12]
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Distribution of earnings
Example
| Year 1 | Cumulative | Pre-tax income | Taxes | |
|---|---|---|---|---|
| Taxable income | 100 | 100 | ||
| Tax | 30 | 30 | ||
| Net after tax | 70 | |||
| Jim's income & tax | 0 | |||
| Year 2 | ||||
| Taxable income | 100 | 200 | ||
| Tax | 30 | 60 | ||
| Net after tax | 70 | |||
| Jim's income & tax | 0 | |||
| Year 3: | ||||
| Distribution | 140 | |||
| Jim's tax | 42 | 102 | ||
| Net after Jim's tax | 98 | |||
| Totals | 200 | 102 | ||
| 51% | ||||
Other corporate events
Formation
Acquisitions
Reorganizations
Interest deduction limitations
Foreign corporation branches
Losses
Groups of companies
Transfer pricing
Alternative tax bases
Tax returns
See also
- Corporate tax rates in Canada
- Corporate tax in the United States
- United Kingdom corporation tax
- Corporation tax in the Republic of Ireland
- List of Tax rates of Europe
- List of Tax rates around the world
References
- ^ Auerbach, Alan J. (January 2006). "Who Bears the Corporate Tax? A Review of What We Know". Tax Policy and the Economy. 20: 1–40. doi:10.1086/tpe.20.20061903. ISSN 0892-8649.
- ^ "26 U.S. Code § 63 - Taxable income defined". LII / Legal Information Institute (in الإنجليزية). Retrieved 2018-10-13.
- ^ "M-3 to Form 1120" (PDF). United States Internal Revenue Service.
- ^ See. Charles Edward Andrew Lincoln IV, Is Incorporation Really Better Than Central Management and Control for Testing Corporate Residency? An Answer to Corporate Tax Evasion and Inversion, 43 Ohio N.U.L. Rev. 359 (2017).
- ^ "26 U.S. Code Subpart B - Foreign Corporations". LII / Legal Information Institute (in الإنجليزية). Retrieved 2018-10-13.
- ^ "Profits Tax". Ird.gov.hk. Retrieved 2012-10-08.
- ^ Bartlett, Bruce (31 May 2011). "Are Taxes in the U.S. High or Low?". New York Times. Retrieved 19 September 2012.
- ^ أ ب ت "Table II.4. Overall statutory tax rates on dividend income". stats.oecd.org.
- ^ "Corporate tax rates slashed as govt announces ₹1.45 lakh crore stimulus". Mint (in الإنجليزية). 20 September 2019. Retrieved 20 September 2019.
- ^ Tax Code of the Russian Federation, Part II, Chapter 25, Article 284
- ^ Singapore Corporate Tax Guide
- ^ Nations agree to 15% minimum corporate tax rate
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Further reading
- U.S.
- Bittker, Boris I. and Eustice, James S.: Federal Income Taxation of Corporations and Shareholders: paperback ISBN 978-0-7913-4101-8, subscription service
- Kahn & Lehman. Corporate Income Taxation
- Healy, John C. and Schadewald, Michael S.: Multistate Corporate Tax Course 2010, CCH, ISBN 978-0-8080-2173-5 (also available as a multi-volume guide, ISBN 978-0-8080-2015-8)
- Hoffman, et al.: Corporations, Partnerships, Estates and Trusts, ISBN 978-0-324-66021-0
- Momburn, et al.: Mastering Corporate Tax, Carolina Academic Press, ISBN 978-1-59460-368-6
- Watson, Garrett and William McBride, "Evaluating Proposals to Increase the Corporate Tax Rate and Levy a Minimum Tax on Corporate Book Income," FISCAL FACT (Tax Foundation, No. 751 Feb. 2021)
- United Kingdom
- Tolley's Corporation Tax, 2007-2008 ISBN 978-0-7545-3273-6
- Watterson, Juliana M.: Corporation Tax 2009/2010, Bloomsbury Professional, ISBN 978-1-84766-327-6
External links
- Canada
- United Kingdom
- United States
