Figure 1 Statutory corporate income tax rates

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1 Figure 1 Statutory corporate income tax rates Austria Belgium Canada Finland France UK Germany Greece Ireland Italy Japan Netherlands Notes: For countries using different tax rates, the manufacturing rate is chosen. Local taxes (or the average across regions) are included where they exist. Any supplementary taxes are included only if they apply generally, rather than only under particular circumstances. Data for Denmark and Luxembourg are missing. Portugal Spain Sweden USA

2 Figure 2 Average statutory corporate income tax rate 55% 5 Weighted average 45% Median 4 35% Notes: Statutory tax rate defined as in figure 1. Average weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

3 Figure 3 PDV of depreciation allowances Austria Belgium Canada Finland France UK Germany Greece Ireland Italy Japan Netherlands Notes:The PDV of allowances is calculated for an investment in plant and machinery. Special first year allowances are included if applicable. Where switching between straight-line and reducing balance methods is allowed, such switching is assumed at the optimal point. The assumed real discount rate is 1, the assumed rate of inflation is 3.5%. Data for Denmark and Luxembourg are missing. Portugal Spain Sweden USA

4 Figure 4 PDV of depreciation allowance 85% Assumed inflation rate (3.5%) Actual inflation rate 8 75% Notes: Allowances defined as in figure 3, except for the second series which is based on actual inflation rates (implying static expectations), rather than an assumed fixed rate of 3.5%. Average weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

5 Figure 5 Effective marginal tax rates 5 45% % 3 25% 2 15% 1 5% Austria Belgium Canada Finland France UK Germany Greece Ireland Italy Japan Netherlands Portugal Spain Sweden USA Notes: Calculations based on a hypothetical investment for one period in plant and machinery, financed by equity or retained earnings (but not debt). Taxation at the shareholder level is not included. The project is expected to break even, i.e. there is no economic rent. Other assumptions: real discount rate: 1, inflation rate: 3.5%, depreciation rate: 12.25%. Data for Denmark and Luxembourg are missing.

6 Figure 6 Effective marginal tax rates 35% Assumed inflation Real inflation 3 25% Notes: Effective marginal tax rate defined as in figure 5, except for the second series which is based on actual inflation rates (implying static expectations), rather than an assumed fixed rate of 3.5%. Average weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

7 Figure 7 Effective average tax rates Austria Belgium Canada Finland France UK Germany Greece Ireland Italy Japan Netherlands Portugal Spain Sweden USA Notes: Calculations based on a hypothetical investment for one period in plant and machinery, financed by equity or retained earnings (but not debt). Taxation at the shareholder level is not included. The expected rate of economic profits earned is 1 (implying a financial return, p, of 2). Other assumptions: real discount rate: 1, inflation rate: 3.5%, depreciation rate: 12.25%. Data for Denmark and Luxembourg are missing.

8 Figure 8 Effective average tax rates 45% Assumed inflation 4 Real Inflation 35% 3 25% Notes: Effective average tax rate defined as in figure 7, except for the second series which is based on actual inflation rates (implying static expectations), rather than an assumed fixed rate of 3.5%. Average weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

9 Figure 9 Average effective average tax rates at different levels of profitability Infinite economic profits (= statutory rate) 4 economic profits 1 economic profits economic profits (= EMTR) Notes: Effective average tax rates defined as in figure 7. Average weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

10 Figure 10 Effective tax rates at different levels of profitability Effective tax rate Rate of economic profitability Notes: Effective average tax rates defined as in figure 7, but rate of economic profits allowed to vary from to 10. Averages weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

11 Figure 11 Effective tax rates, debt financed EMTR EATR Notes: Effective marginal tax defined on a tax-exclusive basis, unlike in figure 5. Finance is by debt, all other assumptions as in figure 5. Average weighted by GDP in US$. Denmark and Luxembourg have been excluded from the average in every year due to missing data in some years.

12 4% Figure 12 Corporate income tax revenue (% of GDP) 4% 3% 3% 2% 2% 1% Weighted average Median 1% Notes: Average weighted by GDP in US$. Portugal has been excluded from the average in every year due to missing data in some years. All taxes levied on profits and capital gains of corporations are included. Source: OECD.

13 8% 7% 6% 5% 4% 3% 2% 1% Austria Belgium Canada Denmark Finland France UK Germany Greece Ireland Italy Japan Figure 13 Corporate income tax revenue (% of GDP) Notes: All taxes levied on profits and capital gains of corporations are included. Source: OECD. Data for Portugal are missing. Luxembourg Netherlands Spain Sweden USA

14 Figure 14 Corporate income tax revenue (% of total tax revenue) 16% 14% 12% 1 8% 6% 4% 2% Weighted average Median Notes: Average weighted by GDP in US$. Portugal has been excluded from the average in every year due to missing data in some years. All taxes levied on profits and capital gains of corporations are included. Source: OECD.

15 Figure 15 Foreign direct investment (% of GDP) % Outflows Inflows % % Notes: Average weighted by GDP in US$. The following countries were excluded from the average due to missing data in some years: Austria, Belgium, Greece, Ireland, Luxembourg, Sweden. Source: OECD.

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