Corporate Tax Rate by Country
Statutory corporate income tax rates across 196 economies. Used in WACC computation as the tax shield on debt cost. Damodaran Jan 2026 edition.
| Country | Corp. tax rate | Rating |
|---|---|---|
| ComorosKM | 50.0% | NR |
| BahrainBH | 46.0% | B1 |
| SurinameSR | 36.0% | Ca |
| ColombiaCO | 35.0% | Baa3 |
| ArgentinaAR | 35.0% | Caa1 |
| SudanSD | 35.0% | Ca |
| CubaCU | 35.0% | Ca |
| MaltaMT | 35.0% | A2 |
| Eq. GuineaGQ | 35.0% | Caa2 |
| ChadTD | 35.0% | Caa2 |
| BrazilBR | 34.0% | Ba1 |
| VenezuelaVE | 34.0% | Ca |
| St. KittsKN | 33.3% | NR |
| CameroonCM | 33.0% | B2 |
| MozambiqueMZ | 32.0% | Caa2 |
| NamibiaNA | 32.0% | Ba1 |
| MoroccoMA | 31.0% | Ba1 |
| AustraliaAU | 30.0% | Aaa |
| MexicoMX | 30.0% | Baa2 |
| KenyaKE | 30.0% | B3 |
| EthiopiaET | 30.0% | Caa2 |
| TanzaniaTZ | 30.0% | B1 |
| UgandaUG | 30.0% | B2 |
| ZambiaZM | 30.0% | Caa3 |
| NigeriaNG | 30.0% | B3 |
SHOW ALL 196 COUNTRIES
| Country | Corp. tax rate | Rating |
|---|---|---|
| Papua New GuineaPG | 30.0% | B2 |
| SenegalSN | 30.0% | Ba3 |
| DR CongoCD | 30.0% | Caa1 |
| CongoCG | 30.0% | Caa2 |
| GabonGA | 30.0% | Caa1 |
| MalawiMW | 30.0% | Caa3 |
| RwandaRW | 30.0% | B1 |
| Costa RicaCR | 30.0% | B1 |
| El SalvadorSV | 30.0% | Caa1 |
| NicaraguaNI | 30.0% | B3 |
| Trinidad & TobagoTT | 30.0% | Ba1 |
| New CaledoniaNC | 30.0% | NR |
| Saint LuciaLC | 30.0% | NR |
| St. VincentVC | 30.0% | NR |
| HaitiHT | 30.0% | Ca |
| Solomon IslandsSB | 30.0% | NR |
| EritreaER | 30.0% | NR |
| MaliML | 30.0% | Caa1 |
| NigerNE | 30.0% | Caa1 |
| Sierra LeoneSL | 30.0% | Caa2 |
| BeninBJ | 30.0% | B1 |
| Central African Rep.CF | 30.0% | Ca |
| BurundiBI | 30.0% | Ca |
| GermanyDE | 29.9% | Aaa |
| JapanJP | 29.7% | A1 |
| PeruPE | 29.5% | Baa1 |
| PakistanPK | 29.0% | Caa1 |
| New ZealandNZ | 28.0% | Aaa |
| SyriaSY | 28.0% | Ca |
| GrenadaGD | 28.0% | NR |
| TogoTG | 28.0% | B3 |
| ItalyIT | 27.9% | Baa2 |
| BangladeshBD | 27.5% | Ba3 |
| Burkina FasoBF | 27.5% | Caa1 |
| EswatiniSZ | 27.5% | NR |
| ChileCL | 27.0% | A2 |
| South AfricaZA | 27.0% | Ba2 |
| Dominican Rep.DO | 27.0% | Ba3 |
| SamoaWS | 27.0% | NR |
| The GambiaGM | 27.0% | NR |
| CanadaCA | 26.5% | Aaa |
| GreenlandGL | 26.5% | NR |
| AlgeriaDZ | 26.0% | Baa3 |
| NetherlandsNL | 25.8% | Aaa |
| IndiaIN | 25.2% | Baa3 |
| FranceFR | 25.0% | Aa3 |
| SpainES | 25.0% | A3 |
| United KingdomGB | 25.0% | Aa3 |
| AustriaAT | 25.0% | Aa1 |
| BelgiumBE | 25.0% | Aa3 |
| ChinaCN | 25.0% | A1 |
| PhilippinesPH | 25.0% | Baa2 |
| TürkiyeTR | 25.0% | Ba3 |
| RussiaRU | 25.0% | Ca |
| GhanaGH | 25.0% | Ca |
| AngolaAO | 25.0% | B3 |
| MyanmarMM | 25.0% | B2 |
| NepalNP | 25.0% | B1 |
| MongoliaMN | 25.0% | B3 |
| BhutanBT | 25.0% | NR |
| IranIR | 25.0% | Ca |
| Côte d'IvoireCI | 25.0% | Ba3 |
| BoliviaBO | 25.0% | Ca |
| UruguayUY | 25.0% | Baa1 |
| GuatemalaGT | 25.0% | Ba1 |
| PanamaPA | 25.0% | Baa3 |
| HondurasHN | 25.0% | B1 |
| JamaicaJM | 25.0% | B1 |
| BelizeBZ | 25.0% | B3 |
| GuyanaGY | 25.0% | B1 |
| French PolynesiaPF | 25.0% | NR |
| Antigua & Barb.AG | 25.0% | NR |
| DominicaDM | 25.0% | NR |
| TongaTO | 25.0% | NR |
| KiribatiKI | 25.0% | NR |
| TuvaluTV | 25.0% | NR |
| NauruNR | 25.0% | NR |
| EcuadorEC | 25.0% | B3 |
| DjiboutiDJ | 25.0% | B3 |
| MauritaniaMR | 25.0% | B3 |
| GuineaGN | 25.0% | B3 |
| Guinea-BissauGW | 25.0% | NR |
| LiberiaLR | 25.0% | Caa1 |
| São Tomé & PríncipeST | 25.0% | NR |
| LesothoLS | 25.0% | B3 |
| ZimbabweZW | 24.7% | Ca |
| MalaysiaMY | 24.0% | A3 |
| Sri LankaLK | 24.0% | Ca |
| LaosLA | 24.0% | Caa3 |
| IsraelIL | 23.0% | Baa1 |
| EgyptEG | 22.5% | Caa1 |
| NorwayNO | 22.0% | Aaa |
| DenmarkDK | 22.0% | Aaa |
| South KoreaKR | 22.0% | Aa2 |
| IndonesiaID | 22.0% | Baa2 |
| GreeceGR | 22.0% | Baa3 |
| BotswanaBW | 22.0% | A3 |
| Cape VerdeCV | 22.0% | B2 |
| United StatesUS | 21.0% | Aa1 |
| PortugalPT | 21.0% | A3 |
| Czech RepublicCZ | 21.0% | Aa3 |
| SlovakiaSK | 21.0% | A2 |
| SwedenSE | 20.6% | Aaa |
| FinlandFI | 20.0% | Aa1 |
| Saudi ArabiaSA | 20.0% | Aa3 |
| ThailandTH | 20.0% | Baa1 |
| TaiwanTW | 20.0% | Aa3 |
| LatviaLV | 20.0% | A3 |
| EstoniaEE | 20.0% | A1 |
| KazakhstanKZ | 20.0% | Baa2 |
| AzerbaijanAZ | 20.0% | Ba1 |
| GeorgiaGE | 20.0% | Ba1 |
| JordanJO | 20.0% | Ba3 |
| VietnamVN | 20.0% | Ba2 |
| CambodiaKH | 20.0% | B2 |
| FijiFJ | 20.0% | B1 |
| YemenYE | 20.0% | Ca |
| AfghanistanAF | 20.0% | Ca |
| LibyaLY | 20.0% | NR |
| MadagascarMG | 20.0% | B3 |
| IcelandIS | 20.0% | A2 |
| South SudanSS | 20.0% | Ca |
| SwitzerlandCH | 19.7% | Aaa |
| PolandPL | 19.0% | A2 |
| SloveniaSI | 19.0% | A3 |
| Puerto RicoPR | 18.5% | Caa3 |
| UkraineUA | 18.0% | Ca |
| CroatiaHR | 18.0% | Baa2 |
| ArmeniaAM | 18.0% | Ba3 |
| BelarusBY | 18.0% | Ca |
| TajikistanTJ | 18.0% | B3 |
| Faroe IslandsFO | 18.0% | NR |
| SingaporeSG | 17.0% | Aaa |
| LebanonLB | 17.0% | Ca |
| LuxembourgLU | 17.0% | Aaa |
| San MarinoSM | 17.0% | NR |
| Hong KongHK | 16.5% | Aa3 |
| RomaniaRO | 16.0% | Baa3 |
| KuwaitKW | 15.0% | Aa2 |
| LithuaniaLT | 15.0% | A2 |
| SerbiaRS | 15.0% | Ba3 |
| AlbaniaAL | 15.0% | B1 |
| TunisiaTN | 15.0% | Caa2 |
| MaldivesMV | 15.0% | Caa1 |
| IraqIQ | 15.0% | Caa1 |
| OmanOM | 15.0% | Baa3 |
| UzbekistanUZ | 15.0% | Ba3 |
| MauritiusMU | 15.0% | Baa3 |
| SeychellesSC | 15.0% | B1 |
| IrelandIE | 12.5% | Aa3 |
| CyprusCY | 12.5% | Baa2 |
| GibraltarGI | 12.5% | NR |
| LiechtensteinLI | 12.5% | Aaa |
| MoldovaMD | 12.0% | B3 |
| QatarQA | 10.0% | Aa3 |
| BulgariaBG | 10.0% | Baa1 |
| Bosnia & Herz.BA | 10.0% | B3 |
| N. MacedoniaMK | 10.0% | Ba3 |
| KyrgyzstanKG | 10.0% | B3 |
| ParaguayPY | 10.0% | Ba1 |
| AndorraAD | 10.0% | NR |
| East TimorTL | 10.0% | NR |
| UAEAE | 9.0% | Aa2 |
| HungaryHU | 9.0% | Baa2 |
| MontenegroME | 9.0% | B1 |
| BarbadosBB | 9.0% | B1 |
| TurkmenistanTM | 8.0% | NR |
| North KoreaKP | 0.0% | NR |
| BahamasBS | 0.0% | Ba2 |
| MonacoMC | 0.0% | NR |
| Vatican CityVA | 0.0% | NR |
| MicronesiaMF | 0.0% | NR |
| VanuatuVU | 0.0% | NR |
| PalauPW | 0.0% | NR |
| Marshall IslandsMH | 0.0% | NR |
| Isle of ManIM | 0.0% | NR |
| JerseyJE | 0.0% | NR |
| GuernseyGG | 0.0% | NR |
| SomaliaSO | 0.0% | Ca |
Corporate tax rate data sourced using the methodology published by Aswath Damodaran (NYU Stern), Jan 2026 edition. Statutory rates; effective rates differ. Used as the tax-shield input in after-tax cost of debt and WACC computations.