China

Details

  • Service: Tax, Indirect Tax
  • Type: Business and industry issue, Survey report
  • Date: 10/16/2009

KPMG's Corporate and Indirect Tax Rate Survey 2009 

KPMG International's 2009 Corporate and Indirect Tax Rate Survey is an annual look at tax rates affecting business around the globe. This year's version indicates that an urgent need for more revenue is pushing many governments into active moves to increase the tax take from indirect taxes, and a worldwide broadening of the tax base for corporate income taxes. This represents a milestone in global tax policy, as a trend of several years of falling rates came to an end.

 

KPMG's Corporate and Indirect Tax Rate Survey 2009
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Highlights from the 2009 survey include:
• In Latin America, the average corporate tax rate was unchanged at 26.9 percent, reversing a trend of falling rates in place since 2004.
• In Europe, average rates stayed at 23.2 percent, the first time in 13 years they have not fallen year-over-year.
• Only in Asia Pacific did the average rate this year match the cuts of previous years, falling from 28.4 percent in 2008 to 27.5 percent in 2009.
• Indirect tax rates in Europe rose from 19.5 percent to 19.8 percent and in Latin America 15.9 percent to 16.2 percent.
• In Asia-Pacific there was a marginal drop in the indirect tax rate from 10.9 percent to 10.8 percent.

 
 

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