Shortcut to Countries
History of Taxation
Tax Rates Around the World - Comparison
Tax Withholding Rates
Embassies & Consulates
News - General & Economics
World Tax Administrations
World Travel and Tourism Guides
World Business Opportunities & B2B
World Stock Exchanges
Tax Rates Around the World 2018
(Note: Only the underlined countries are currently ready)
(Last partial update May 31, 2018)
1. In countries in which VAT is charged at a number of different rates, the rate in the table is the highest rate.
2. The rates in the Table do not include Local tax, if it exists.
3. Social security rates are the highest rates. Unlike income tax social security contributions are generally imposed on income up to a ceiling.
Tax and Business News 2018
Tax Updates Archive
- U.K. Interest Rate Rise
The bank of England raised on August the interest rate from 0.5% to 0.75%, the highest interest rate for the last nine years. August 2018.
- Israel's Credit Rating Update
The credit rating agency S&P's upgraded on August 3, 2018 Israel's credit rating from A- to AA- , the highest rating ever for Israel. August 2018.
- Singapore Kenya Tax Treaty
Singapore and Kenya signed on June 12, 2018 a double tax treaty, DTA. According to the DTA the tax withholding rates are 5% for dividends and 10% for interest and royalties. July 2018.
- Russia Austria Tax Treaty
Russia and Austria signed on June 5, 2018 a protocol to the existing 2000 double tax treaty, DTA, between the two countries. According to the DTA the tax withholding rates for payments of dividends are 5% or 15% .July 2018.
- U.S. June Job Report
The U.S. labor department reported on July 6,2018 that 213,000 new jobs were added to the American economy in June 2018 compared to a preliminary forecast of 195,000 new jobs. The unemployment rate rose to 4% compared to 3.8% in previous month. July 2018.
- China U.S. Trade War
China announced on July 6, 2018 its plan to impose tariffs on imports from the U.S. .The tariffs would reach $34 billion, the same amount as U.S.'s Tariffs on imports from China. July 2018.
- U.S. Interest Rate Rise
The U.S. federal reserve raised on June 13, 2018 its interest rate by 0,25%.The new updated rates are 1.75% to 2%. June 2018.
- UAE New Foreign Ownership Rules
At present the ownership of foreign investors in UAE companies is limited to 49%. The UAE cabinet announced on May 20 that these rules will be eased by the end of 2018. June 2018.
- Malaysia GST Update
Starting June 1, 2018 Malaysia's GST, goods and services tax, was reduced from 6% to zero. June 2018.
- U.S. May Job Report
The U.S. labor department reported on June 1, 2018 that 223,000 new jobs were added to the U.S. economy in May 2018 compared to a preliminary forecast of 190,000 new jobs. June 2018.
- Turkey Interest Rise
The Turkish central bank raised on May 23 the interest rate from 13.5% to 16.5% trying to stop the drop of the Turkish currency compared to other foreign currencies. May 2018.
- U.S. April Job Report
The U.S. labor department reported on May 22 that 164,000 new jobs were added to the U.S. economy in April 2018 compared to a preliminary forecast of 193,000 new jobs. May 2018.
- Colombia Electronic Invoices
Starting January 1, 2019 companies in Colombia will have to stop using paper invoices using only electronic invoices. Big V.A.T. payers must switch to electronic invoices starting September 1, 2018. May 2018.
- South Africa V.A.T. Rise
Starting April 1, 2018 the new standard V.A.T. rate in South Africa is 15% compared to the previous 14% rate. April 2018.
- China V.A.T. Cut
Starting May 1, 2018 there will be reductions in the Chinese V.A.T. rates. The previous 17% rate will be reduced to 16%. The previous 11% rate will be reduced to 10%. The 6% rate will remain unchanged. April 2018.
- India Corporate Tax Cut
Starting April 1, 2018 the corporate income tax rate for domestic companies with turnover below INR 2.5 billion is reduced from 30% to 25%. April 2018.
- Mexico Saudi Arabia Tax Treaty
The 2016 double tax agreement, DTA, between the two countries entered into force on Mach 1, 2018 applying from January 1, 2019 in both countries. The DTA includes reduced tax withholding rates for payments of dividends, interest and royalties. April 2018.
- Netherlands Zambia Tax Treaty
The 2015 double tax agreement, DTA, between the two countries entered into force on March 31,2018 applying from January 1,2019 in both countries. The DTA includes reduced tax withholding rates for payments of dividends, interest and royalties. April 2018.
- Poland Ethiopia Tax Treaty
The 2015 double tax agreement, DTA, between Poland and Ethiopia entered into force on February 14, 2018.The DTA includes a flat 10% tax withholding rate for payments of dividends, interest and royalties. March 2018.
- U.S. China New Tariffs
President Trump signed on March 22, 2018 an executive memo imposing new tariffs of up to $60 billion on 1,300 Chinese products in the technology sector. March 2018.
- Austria Israel Tax Treaty
The 2016 double tax agreement, DTA, between the two countries entered into force on March 1, 2018 applying from January 1, 2019 in both countries. The DTA includes reduced tax withholding rates for payments of dividends, interest and royalties. March 2018.
- Qatar Spain Tax Treaty
The 2015 double tax agreement, DTA, between the two countries entered into force on February 6, 2018 applying from the same date. The DTA includes reduced tax withholding rate for payment of dividends. March 2018.
- Saudi Arabia Switzerland Tax Treaty
The two countries signed on February 18, 2018 a double tax agreement, DTA. The DTA includes, when in effect, reduced tax withholding rates for payments of dividends, interest and royalties. March 2018.
History of Taxation
Tax has an extremely long-established history. The ancient Egyptians appointed Tax Masters who increased the burden on the Children of Israel - slaves under Egyptian domination. As a general rule, tax is the source that is best exploited by government. It is imposed on individuals and companies to finance services that the State is obligated to provide and to meet its goals....More info
The following pages attempt to give a brief summary of the principles of double entry bookkeeping. After reading the material you will find that the "bogey" is not that bad.
The Development of Bookkeeping.
In each area of life, techniques are developed and inventions made to answer the problems that arise therein. Thus, for example, the invention of the "airplane" provided an answer to the problem of reducing travel time between distant cities. The discovery of "canned foods" on the other hand gave an answer to the need to keep food fresh for long periods. This is similar to what happened with bookkeeping, in that it answered the severe problems that arose in managing modern commerce. More info...