In every corner of our globe, companies grapple with the complexities of corporate tax - a key economic lever that impacts both businesses and national economies. Established by jurisdictions worldwide, corporate tax refers to a tax imposed on the profits of corporations and businesses. With no global standard to govern these rates, they are determined by the local, federal, or national governments of each country, leading to stark variations in corporate tax rates globally. In 2021, 20 nations modified their statutory corporate income taxes, yielding a fascinating insight into global trends and regional nuances in business taxation.
Key Findings: