World Tax Rates 2025

Country Income Tax Social Security VAT
Corporate Individual Employer Employee
Albania 0-15% 0-23% 16.7% 11.2% 20%
Argentina 30% 9-35% 27% 17% 21%
Australia 30% 17-45%     10%GST
Austria 23% 25%-55% 21.83% 18.2% 20%
Barbados 9% 28.5%     17.50%
Belarus 18% 12% 34% 1% 20%
Belgium 25% 25-50% 40.58% 13.07% 21%
Brazil 34% 7.5-27.5% 37.3% 11% 10-15%
Bulgaria 10% 10% 18,92%-19.62% 13.78% 20%
BVI 0 0      
Canada 15%(federal) 15-33%(Federal)     5%(gst)
China 25% 3-45% 29% 11% 3%-13%
Croatia 18% 30% 15.20% 20% 25%
Cyprus 12.5% 0-35% 12.5% 8.8% 19%
Czech Rep. 21% 15%/23% 34% 11% 21%
Denmark 22% 0-56% 0 DKK 900 25%
Egypt 22.5% 10-25%     14%
Estonia 22% 20% 33% 1.6% 22%
Finland 20% 0-55% 19.47% 9.14% 24%
France 25% 11%-45% 50% 20% 20%
Georgia 15% 20% 2 2 18%
Germany 30-33%(effective) 14-45% 19.7% 20.6% 19%
Gibraltar 10% 0-41% Gip 32.97/week Gip 25.16/Week  
Greece 22% 9%-44% 24.81% 15.75% 24%
Hong kong 8.25%/16.50% 15% 5% 5%  
Hungary 9% 15% 13% 18.5% 27%
India 25%-40% 10-30% 12% 12% 18%
Indonesia 25% 0-35% 3.7% 2% 10%
Ireland 12.50% 20-40% 11.05% 4% 23%
Israel 23% 10-47% 7.25% 12% 18%
Italy 24% 23%-43% 30% 10% 22%
Japan 23.2%/23.4% 5-45% 15.448% 14.643% 8%(consump)
Latvia 20% 31% 23.59% 10.50% 21%
Libya 20% 13% 11.25% 3.75%  
Lithuania 16% 0-32% 32.6% 9% 21%
Luxemburg 18% 0-42% 14.69% 13.45% 17%
Malta 35% 15-35% 10% 10% 18%
Mexico 30% 0-35% 25% 5% 16%
Moldova 12% 12% 26.5% 9.5% 20%
Monaco 33.33 0%     19.60%
Morocco 31% 0-38%     20%
Montenegro 9% 9%/15% 8.3% 24% 21%
Netherlands 15%/25.8% 37.07%/49.5% 18% 27.6% 21%
New Zealand 28% 0-39%     15%gst
Norway 22% 22% 14.1% 7.8% 25%
Pakistan 29% 0-35%     17%
Panama 25% 15-25% 12% 9% 7%
Philippines 30% 0-35% PHP 1,090 PHP 500 12%
Poland 9%/19% 12%/32% 22.14% 13.7% 23%
Portugal 20% 14.5-48% 23.75% 11% 23%
Romania 16% 10% 10.25% 35% 19%
Russia 20% 13% 30% 0 20%
Saudi Arabia 20% 20%     5%
Serbia 15% 10-20% 19.9% 19.9% 20%
Singapore 17% 0-22% 17% 20% 9% (gst)
Slovakia 21% 19%/25% 34.8% 13.4% 20%
Slovenia 22% 16%-45% 16.1% 22.1% 22%
South Africa 28% 0-45%     15%
Spain 25% 0-47% 30.4% 6.45% 21%
Sweden 20.6% 0-25%     25%
Switzerland 8.5% 0-11.5% (federal) 25.08% 20.73% 2.6/3.8/8.1%
Thailand 20% 5-35% 5% 5% 7%
Tunisia 25% 15-35% 16.57 9.18 19%
Turkey 22% 15-40% 20.5% 14% 18%
U.A.E. 20%/55% 0% 12.5%/15% 5% 5%
U.K. 25% 0-45% 13.8% 12% 20%
Ukraine 18% 18% 22% 3.6% 20%
U.S.A. 21% 10%-37% 7.65% 5.65%  
Vietnam 20% 5-35% 21% 9% 10%
Zambia 35% 0-37.5%     16%
(Last partial update January 20, 2025)

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 2025

  • Austria Kuwait Tax Agreement
    The two countries signed on June 17, 2025 a new protocol to the existing 2002 double tax agreement, DTA, between the two countries. June 2025.
  • Euro zone Inflation
    The inflation in the euro zone in May 2025 decreased to 1.9% less than the annual 2% target of the ECB, European central bank. June 2025.
  • Germany Tax Cut
    The German chancellor plans to cut the corporate income tax rate from 15% to 10% in the years 2028 to 2032. June 2025.
  • Bulgaria Euro Currency
    The Euro will be the official currency in Bulgaria starting January 1, 2026 with the exchange rate of 1.95583 Lev to 1 Euro. June 2025.
  • U.S. April Job Report
    177,000 new jobs were added to the American economy in April 2025. The unemployment rate remained unchanged at 4.2%. May 2025.
  • Lithuania VAT Update
    The reduced 9% VAT rate will rise to 12% starting January 1, 2026 .Other VAT rates will remain unchanged. May 2025.
  • Czech Republic Tanzania Tax Agreement
    The two countries signed on May 14, 2025 a DTA including reduced tax withholding rates for payments of dividends, interest and royalties. May 2025.
  • U.K. Interest Rate Cut
    The bank of England, BOE, cut the interest rate from 4.5% to 4.25%. The present cut is the 4th cut since August 2024 due to the declining inflation. May 2025.
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