The corporate tax rate is a flat 18 , one of the lowest in the world.

The Corporate Tax Conundrum

Both President Barack Obama s plan for business tax reform and the Simpson Bowles deficit reduction plan propose reducing such expenditures to pay for a reduction in the corporate tax rate.

Personal income tax would be reviewed, company tax breaks rationalized and basic goods exempted from VAT.

But each percentage point reduction in the corporate tax rate would reduce federal revenues by about 12 billion per year.

In order to survive international tax competition and thus be able to rely on corporate taxes as a source of revenue Japan s corporate tax rate should be lowered in the long run.

Moreover, a high corporate tax rate is an ineffective and costly tool for producing revenues, owing to innovative financial transactions and legal tax avoidance mechanisms.

In January 2005, the personal income tax rate was reduced to 24 .

Because of the high registration tax (180 ), VAT (25 ), and one of the world's highest income tax rates, new cars are very expensive.

A lower corporate tax rate would weaken this justification. Moreover, pension funds, retirement plans, and non profit organizations, which receive about 50 of all corporate dividends, do not pay tax on these earnings, and would benefit from a lower corporate tax rate.

The third arrow is not a traditional industrial policy based approach. On the contrary, it emphasizes reform of the labor market, deregulation, and a reduction in the corporate tax rate.

At the same time, the effective corporate tax rate in Japan is higher than it is elsewhere, making it difficult for Japan to attract investment, foreign or domestic.

Then there is the matter of security, which constitutes a huge tax on business in many parts of Mexico.

That had been accomplished by widening the tax base, improving administration efficiency, reducing corporate income tax, introducing a personal income tax of 10 per cent and keeping value added tax at 10 per cent.

In early 1993, the inflation rate increased slightly, resulting in part from the one time hike in the VAT rate.

These revenue losses could be offset by curtailing so called corporate tax expenditures deductions, credits, and other special tax provisions that subsidize some economic activities while penalizing others and broadening the corporate tax base.

And curtailing accelerated depreciation, the manufacturing production deduction, and the R D tax credit which account for about 80 of corporate tax expenditures would involve significant tradeoffs.

Defenders of low rates for capital owners argue that it minimizes double taxation of corporate income first of the corporation and then of its shareholders.

As a consequence of the ensuing tax competition, corporate tax rates have fallen to 15 25 in most European countries.

According to conventional wisdom, the corporate tax burden is borne principally by the owners of capital in the form of lower returns.

Other firms trading in the Territory must pay a standard 35 per cent tax on their profits.

A Scot!

Most countries that reduced their corporate tax rates have followed this path, while the US has done the opposite.

Instead, they have to pay a fixed annual tax set at a nominal amount of 225 to 300.

I have argued for several years that India should emphasize investment spending, so I welcome this shift. The budget also includes a number of other helpful measures, such as the reduction of the corporate tax rate and efforts to improve the business environment.

5. The Turks and Caicos Islands levies no income tax, capital gains tax or sales tax.

An Inequality Tax

Industry and service only pay CO2 tax at a level which is half of the tax for households.

For example, value added tax is designed to encourage firms to procure invoices for their inputs in order to reduce their own tax outlays.

This 300 billion is a tax that shareholders of growing companies think is worth paying (or perhaps cannot find a way to avoid paying) for energetic corporate executives.

2220 Stamp tax

2250 Statistical tax

There are inheritance taxes, there are...

The penalty of middle age.

Of course, taxation of financial firms profits and bonuses should be made more similar to that of other economic activities.

These companies pay a fixed annual tax, irrespective of profits made and whether or not their profits are received in the Territory.

Under the Exempt Company scheme offered by the authorities in Gibraltar, more than 8,000 offshore firms escape having to pay income tax on their earnings.

Level the playing field. And use the savings to lower the corporate tax rate for the first time in 25 years without adding to our deficit.

In the autumn, Prime Minister Terzić had offered his resignation over the Bosnia and Herzegovina Parliament's failure to adopt a government proposal on the value added tax (VAT) rate.

That is pure, unadulterated, lip service!

One out of three, that's the saran's tax.

Finally, in addition to extending Bush s tax cuts, Romney promises an across the board 20 reduction in marginal personal income tax rates and a significant cut in the corporate rate to encourage businesses to hire more workers.

To begin with, several significant fiscal taxation reforms are now underway or in the pipeline, such as an increase in the collection of state owned companies dividends and a hike in the resource tax on industries such as oil and coal mining, in order to reduce corporate savings.

Instead of implementing deep and permanent cuts in payroll taxes on businesses, the government will give companies a 20 billion ( 26 billion) income tax credit over the next two years.

A tax called a death tax is regarded very differently from a tax called an inheritance tax, even though the two are really identical.