Sourced by "The Tax Foundation" and "AP- CNBC"
Source: The Tax Foundation
Link:
http://taxfoundation.org/
October 01, 2015
By
Kyle Pomerleau
FISCAL FACT No. 483: Corporate Income Tax Rates around the World, 2015 (PDF)
Key Findings
• The United States has the third highest general top marginal corporate income tax rate in the world at 39 percent, which is the same as Puerto Rico and is exceeded only by Chad and the United Arab Emirates.
• The worldwide average top corporate income tax rate (accounting for 173 countries and tax jurisdictions) is 22.9 percent, 29.8 percent weighted by GDP.
• By region, Europe has the lowest average corporate tax rate at 18.7 percent (26.1 percent weighted by GDP). Africa has the highest simple average at 28.77 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 22.9 percent.
• Every region in the world has seen a decline in its average corporate tax rate in the past twelve years.
Puerto Rico governor declares bank emergency
10 Mins AgoThe Associated Press
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Gov. Alejandro Garcia Padilla says he is moving to protect Puerto Rico's residents through an executive order that declares a state of emergency at the Government Development Bank.
The governor issued an executive order that protects the bank's dwindling liquidity by only allowing withdrawals that fund the delivery of essential public services. It does not call for a moratorium on the government bank principal or interest payments.
Garcia said the bank is in talks with creditors regarding a $423 million due May 1.
The order Saturday was the first taken under the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act enacted last week. The law provides emergency powers to the governor including the ability to declare a moratorium on all bond payments.
"The GDB's financial condition has continued to deteriorate and, absent the measures ordered in this executive order, there is an imminent risk of a drastic decrease in GDB's liquidity in the immediate term. This, in turn, would jeopardize the provision of essential services by the commonwealth," the order states.
And Puerto Rico is seeking "Super Bankruptcy" protection from U.S. taxpayers....HOW MUCH IS A FAIR AMOUNT FOR CORPORATIONS TO PAY?
Any questions why business as incorporating in countries with a lower tax rate? If you have a 401K then you are benefitting from this cost saving measure
