Effective corporate tax rates, 2010, Asia

A new paper from Cato this month,  New Estimates of Effective Corporate Tax Rates on Business Investment written by Duanjie Chen and Jack Mintz, School of Public Policy, University of Calgary, gave an updated review of the subject. They defined the subject as:

“Effective” tax rates take into account statutory rates plus tax-base items that affect taxes paid on new investment, such as depreciation deductions, inventory allowances, and interest deductions. Our calculations also account for other taxes that affect investment, such as retail sales taxes on capital purchases and asset-based taxes.

It’s a good attempt at comparing not only corporate income tax rate but other taxes on businesses. Here are the numbers, in percent, 2010, Asia:

India 33.6

Japan 29.5, S. Korea 29.5

Australia 26.0, Pakistan 24.1

Indonesia 20.5, Malaysia 18.0

New Zealand 17.6, Thailand 17.0

China 16.6, Vietnam 11.7, Taiwan 10.9

Singapore 8.5, Hong Kong 4.0

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