Global Corporate Tax Rates Stabilize After Decades of Decline

Corporate tax rates are showing signs of stabilization after decades of governments slashing levies in a global competition to lure investment from multinational firms.

According to data released by the OECD, the average combined statutory tax rate in its sample of over 160 countries was unchanged at 20% this year. The stabilization may also be a response to fiscal challenges countries face after vast spending programs during the Covid pandemic, it said.

The Paris-based organization has led years of talks on setting a global minimum tax to put an end to a race to the bottom on corporate taxation ...