The worldwide average top corporate income tax rate, across 188 countries and tax jurisdictions, is 22.5 percent. After weighting by each jurisdiction’s GDP, the average rate is 29.5 percent.
By region, Europe has the lowest average corporate tax rate, at 18.88 percent (26.22 percent, weighted by GDP). The G7 has the highest simple average, at 30.21 percent.
Larger, more industrialized countries tend to have higher corporate income tax rates than developing countries.
The worldwide average corporate tax rate has declined since 2003 from 30 percent to 22.5 percent.
Every region in the world has seen a decline in its average corporate tax rate in the past thirteen years....
No company in the USA pays 38.92 tax rate. The effective tax rate below is not just federal taxes. There have been no significant federal tax changes since 2014. The same dynamic is paying out today.
February 25, 2015
By Matt Gardner
Goldman Sachs’s (click here) latest financial report shows that the company avoided paying federal income taxes on almost half its United States profits in 2014. In fact, the company paid an effective tax rate of just 18.6 percent on $6.8 billion in U.S. profits.
Most of Goldman's low tax rate (about half the statutory rate of 35 percent) can be attributed to a tax break that allows corporations to write off the so-called cost of issuing stock options to their executives in lieu of salaries. Goldman disclosed saving a whopping $782 million in income taxes through this break in 2014....
Excuse me, but, there is no cost that significant in providing stocks in lieu of salary. That is a good business model, however, the tax incentives are corrupt and covert. Read the rest of the above article to realize the level of corruption that exists out of sight of the American taxpayer.
...The stock option tax break allows corporations to give lavish compensation to employees in the form of undervalued stock and then take a tax write off for the difference between the stock option and its true value (e.g. give an employee stock at $10/per share stock for a stock ultimately valued at $18 per share). As we have noted, Goldman is just one of hundreds of Fortune 500 corporations benefiting from this scheme....
That is pure unadulterated corruption. It should be litigated as a fraud. Such litigation would result in fines, possible jail terms and additional federal tax. These are the cronies of the Republican Party, ie: Paulson.
Before there is corporate tax reform there needs to be litigation to obtain LEGITIMATE taxes into the federal treasury DEDICATED to pay the national debt; not deficit, NATIONAL DEBT.
Hello, America.
As of September 2014, foreigners owned $6.06 trillion of U.S. debt, or approximately 47% of the debt held by the public of $12.8 trillion and 34% of the total debt of $17.8 trillion. The largest holders were China, Japan, Belgium, the Caribbean banking centers, and oil exporters.
No company in the USA pays 38.92 tax rate. The effective tax rate below is not just federal taxes. There have been no significant federal tax changes since 2014. The same dynamic is paying out today.
February 25, 2015
By Matt Gardner
Goldman Sachs’s (click here) latest financial report shows that the company avoided paying federal income taxes on almost half its United States profits in 2014. In fact, the company paid an effective tax rate of just 18.6 percent on $6.8 billion in U.S. profits.
Most of Goldman's low tax rate (about half the statutory rate of 35 percent) can be attributed to a tax break that allows corporations to write off the so-called cost of issuing stock options to their executives in lieu of salaries. Goldman disclosed saving a whopping $782 million in income taxes through this break in 2014....
Excuse me, but, there is no cost that significant in providing stocks in lieu of salary. That is a good business model, however, the tax incentives are corrupt and covert. Read the rest of the above article to realize the level of corruption that exists out of sight of the American taxpayer.
...The stock option tax break allows corporations to give lavish compensation to employees in the form of undervalued stock and then take a tax write off for the difference between the stock option and its true value (e.g. give an employee stock at $10/per share stock for a stock ultimately valued at $18 per share). As we have noted, Goldman is just one of hundreds of Fortune 500 corporations benefiting from this scheme....
That is pure unadulterated corruption. It should be litigated as a fraud. Such litigation would result in fines, possible jail terms and additional federal tax. These are the cronies of the Republican Party, ie: Paulson.
Before there is corporate tax reform there needs to be litigation to obtain LEGITIMATE taxes into the federal treasury DEDICATED to pay the national debt; not deficit, NATIONAL DEBT.
As of September 2014, foreigners owned $6.06 trillion of U.S. debt, or approximately 47% of the debt held by the public of $12.8 trillion and 34% of the total debt of $17.8 trillion. The largest holders were China, Japan, Belgium, the Caribbean banking centers, and oil exporters.
