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Corporate Income Tax Rate Approaching Twice the World Averag

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Larrry

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U.S. Corporate Income Tax Rate Approaching Twice the World Average
by William McBride

KPMG has released their annual survey of corporate and indirect tax rates:

"Our 2011 survey of the world's corporate and indirect tax rates continues the story told in earlier years. Corporate tax rates have been steadily falling for a decade in many countries, while value added tax and goods and services tax (VAT/GST) systems have proliferated across the globe, rising each year to higher rates and applying to more items as indirect tax systems mature. Some commentators have wondered if these dual trends were temporary anomalies that would reverse over time. Based on our reading of this year's survey results, the chance of a return to the pre-2000 status quo is remote and the global re-balancing of corporate and indirect taxes will continue."

The following graph illustrates just how dramatic the decline in corporate tax rates has been over the last decade, that is everywhere except the U.S.
corporate_rates_-_world_average_2.jpg

http://www.taxfoundation.org/blog/show/27777.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TaxPolicyBlog+%28Tax+Foundation+-+Tax+Foundation%27s+%22Tax+Policy+Blog%22%29
 

hypocritexposer

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I believe what happens is that the Liberals like raising the tax rate to appease their "cultists" and then write in many credits, so the "effective tax rate is lower", yet still higher than other countries.

So the Corporations take their jobs and move offshore.

I wonder why Canada has "rode out the storm" so much better than the majority of other Countries?

The corporate tax rate will decrease as follows:

21% before January 1, 2008
19.5% effective January 1, 2008
19% effective January 1, 2009
18% effective January 1, 2010
16.5% effective January 1, 2011
15% effective January 1, 2012


and yet we are still able to afford many of the services that others can only "dream about"
 
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