Introduction
A corporation is usually a single business entity that is created by a group of individuals and shareholders in order to make a profit through the sale of some good. Because corporations are seen as unique entities for legal purposes, they are required to pay a tax rate that is determined by the nation they exist within. This tax rate is a percentage of their revenue or earned income.
A few examples of modern corporations are Apple, Walmart Inc., Microsoft Corporation, and Tesla Inc. Each of these corporations is required to pay a corporate tax rate on their profits. This tax rate and the laws that restrict the maximum rate at which a corporate entity can be taxed range dramatically from country to country.
Taxes are a portion of earned income that is measured in a percentage, which countries collect as payment for the vast benefits that companies accrue from doing business within their borders, much in the same way that individual citizens must pay taxes. Corporate taxes are particularly important within developing countries, as the state can then use that money to fund various projects such as infrastructure developments, medical care, law enforcement, and much more.
Learn more about corporate tax rates by country by exploring the charts.
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