Tax Reform in other Countries

Ongoing Tax Rate Reductions in Other Countries Leave the U.S. Lagging Farther Behind

In an effort to remain competitive, countries across the world continue lowering their corporate tax rates, while the U.S. remains at a standstill. Recent rate reductions include:

Country Former Corporate Tax Rate New Corporate Tax Rate Effective Date
Denmark 23.5% 22% 1/1/2016
Israel 26.5% 25% 1/1/2016
Norway 27% 25% 2016
Spain 28% 25% 1/1/2016
Japan 31.2% 30% 4/1/2016
Italy 27.5% 24% 2017
Luxembourg 29% 26% 2017
Norway 25% 23% 2018
United Kingdom 20% 17% 2020
Australia 30% 25% Phase-in 2023-2026