Countries Raise Corporate Tax Rates After Years of Decline

Corporate income tax rates across the world stabilized in 2023 after years of decline, according to a new report from the OECD summarizing international taxation trends.

While the corporate income tax increases in 2023 observed by the Organization for Economic Cooperation and Development were of “significant magnitude,” countries also engaged in “base narrowing” measures—or tax incentives—to attract and maintain investment, according to the organization’s Tax Policy Reforms 2024 report released Monday morning.

A country’s tax base refers to the number of taxpayers, businesses, or assets from ...