7 Countries With The Lowest Corporate Tax Rates
7 Countries With The Lowest Corporate Tax Rates
Everyone has an opinion on corporate tax rates. “They’re too low!” “They’re too high!” “What’s the effective tax rate?” But how do our corporate taxes compare to other countries? Which countries have the lowest corporate tax rates?
Let’s take a look at those countries now, and say a little bit about each of them. (For comparison, the U.S. corporate tax rate in 2020 is 21%.)
7. Hungary
Rate: 9%
Photo by Daniel Barbarics on Unsplash
Hungary recently suffered the indignity of losing its status as a democracy. Not great if you love civic freedoms. But if you’re more interested in financial freedom, Hungary is the place for you. The country lowered its corporate tax rate to an anemic 9% in 2017 in order to attract investment.
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.
READ MORE
Your father always said his car would be yours. Now he’s gone, the keys are sitting on the counter, and his name is still on the title. Does that promise count? Generally, the estate controls a car he still owned at passing. But in the United States, the final answer depends on ownership documents, estate rules, and what happened beforehand. That is not necessarily who ultimately gets it.
Your home looks incredible. The kitchen sparkles, the landscaping is immaculate, and every room could belong in a design magazine. So why aren't buyers lining up? Unfortunately, selling a house involves much more than appearances. From unexpected insurance problems to seemingly harmless renovations, these overlooked issues can make even the most beautiful American homes surprisingly difficult to sell.
Your parents left their retirement savings to your sibling and nothing to you. Here's what inheritance laws say and when you can challenge their decision.
Remember these jobs from the 1960s? Discover the once-common careers that Baby Boomers knew well before computers, automation, and AI changed the workplace forever.
You made the final payment. After years of sending money to the mortgage company, you’re finally finished—or so you thought. Because there’s still money sitting in your escrow account, and apparently getting that back requires a little more patience. But how much patience are they actually entitled to?
Your boss says you have to share a hotel room on a work trip “to save money.” Now you’re imagining awkward silences, zero privacy, and possibly unsafe situations. No, you’re not overreacting—your comfort and safety matter. Here’s how to figure out your options, protect yourself, and set clear boundaries without torpedoing your career.
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
Dear reader,
It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.
Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!
Warmest regards,
The Moneymade team
Photo by Daniel Barbarics on Unsplash
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
