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

  • 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.
  • Slovakia Moldova Tax Agreement
    The double tax agreement, DTA, between the two countries will enter into force on May 1, 2025. The DTA includes reduced tax withholding rates for payments of dividends, interest and royalties. April 2025.
  • Europe Interest Rate
    The European central bank, ECB, lowered the deposits interest rate from 2.5% to 2.25%, the 7th cut since June 2024. The euro interest was also cut from 2.65% to 2.4%. April 2025.
  • U.S. March Job Report
    228,000 new jobs were added to the American economy in March 2025, by far higher than the preliminary forecasts of only 140,000 new jobs. April 2025.
  • U.S. February Job Report
    151,000 new jobs were added to the American economy in February 2025 compared to prior forecasts of 170,000 new jobs. The unemployment rate rose to 5.1%. March 2025.
  • U.K Andora Tax Agreement
    The two countries signed on February 20, 2025 a double tax treaty, DTA. According to the DTA there will be reduced tax withholding rates for payments of dividends. March 2025.
  • Israel Budget Deficit
    The Israeli deficit in February 2025 dropped to 5.3% compared to a deficit of 5.7% in January, the fifth reduction in a row. March 2025.
  • India Interest Rate Cut
    The Indian central bank cut the interest rate by 0.25 to 6.25%, the first interest cut since May 2020 resulting from the declining inflation. February 2025.
  • U.K. Interest Rate Cut
    The bank of England, BOE, cut the interest rate from 4.75% to 4.50%, the lowest interest rate since June 2023. February 2025.
  • Armenian business landscape for 2025
    highlight some key areas and potential developments in the Armenian business landscape for 2025. February 2025.
  • Albania Taxes 2025
    The main tax changes in Albania in 2025 are: New progressive taxation regime for employment income. Personal income tax rates for business income February 2025.
  • Estonia Corporate Tax
    Starting January 1, 2025 the new corporate income tax rate in Estonia rose to 22% compared to 20% in 2024. January 2025.
  • Lithuania Corporate Tax
    Starting January 1, 2025 the new corporate income tax rate in Lithuania is 16% compared to 15% in 2024. January 2015.
  • Israel VAT Rise
    Starting January 1, 2025 the new standard VAT rate in Israel is 18% compared to 17% in 2024. There is also a new tax imposed on retained earnings of companies. January 2025
  • U.S. December Job Report
    The U.S. labor department reported that 256,000 new jobs were added to the American economy in December 2024 compared to 227,000 in November. January 2025.
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