7 Countries With The Lowest Corporate Tax Rates
7 Countries With The Lowest Corporate Tax Rates
6. Montenegro
Rate: 9%
Photo by Wladislaw Peljuchno on Unsplash
The tiny Balkan nation of Montenegro ties with Hungary for the lowest tax rate in Europe. This is part of a theme. Tiny nations have a hard time jump-starting their economies since they have small work forces. One way of compensating for this is by becoming a tax haven.
5. Andorra
Rate: 10%
Unsplash
Andorra falls into the same category as Montenegro. It’s a small nation in the Pyrenees, between Spain and France. Andorra is known for its skiing and other alpine sports. Oh, and also for avoiding taxes. The country didn’t even have an income tax until 2015.
4. Bosnia and Herzegovina
Rate: 10%
Photo by Alexandre on Unsplash
Bosnia and Herzegovina is one of the world’s newer states. It also boasts some of the lowest corporate taxes in the world. The lack of government intervention is surely a tactic to help attract investment to the former Yugoslav state.
3. Bulgaria
Rate: 10%
Image by Martin Lazarov from Pixabay
Corporate taxes in Bulgaria are very simple. It’s a 10% flat tax, period, full stop. Not only is that number competitively low, the flat nature of the tax also means confusion is minimal for taxpayers in Bulgaria.
2. North Macedonia
Rate: 10%
Photo by Antonio Janeski on Unsplash
The corporate rate is very low in North Macedonia. Like Bulgaria its application is simple. It’s a 10% rate for anyone making money in the country. But take note: that includes capital gains.
1. Moldova
Rate: 12%
Image by osoian-marcel from Pixabay
Moldova is sort of sandwiched between Romania and Ukraine. Like many relatively new countries, Moldova has opted for one of the lowest corporate tax rates in the world. That’s certainly one way to attract foreign capital.
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Photo by Wladislaw Peljuchno on Unsplash
Photo by Alexandre on Unsplash
Image by Martin Lazarov from Pixabay
Photo by Antonio Janeski on Unsplash
Image by osoian-marcel from Pixabay
