Since KPMG International's previous edition of the rate survey, 13 countries increased their indirect tax rate and none decreased. Nine countries increased their corporate tax rate and 24 decreased.
- There are fundamental changes in attitudes and approaches to tax all over the world. Tax rates, reflective of a country’s economic situation, are going up and down and there is no consistent approach.
- The increases in indirect tax rates are arguably evidence of it becoming the ‘tax of choice’ for governments around the world who are looking to raise much needed income.
- Among countries that impose a corporate tax, the United Arab Emirates holds the top spot with the highest rate.
- For countries that impose an indirect tax, Hungary takes the top spot with the highest rate.