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The Graphic Truth: What companies actually pay in taxes

The Graphic Truth: What companies actually pay in taxes
Gabriella Turrisi
By Carlos Santamaria,
Carlos Santamaria

Carlos Santamaria is a former senior writer at GZERO.

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Gabriella Turrisi
Gabriella Turrisi
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April 07, 2021
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On top of the global debate about enacting a minimum global tax for multinational corporations, there's another growing movement in a host of countries for all firms to pay their fair share in taxes, whether they do business abroad or not. Many US corporations are notorious for getting away with paying little to no federal taxes by taking advantage of multiple loopholes in the tax code — which is true for a lot of them. However, as a whole the average percentage of income US corporations do pay taxes on — their effective tax rate — is in reality not much lower than the legal national rate due to additional taxes levied by some US states and cities — the same as in many other developed economies. We compare the official and the effective corporate tax rates in some nations around the world.

graphic truthminimum corporate tax ratetaxationfiscal policyoecd

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