Data Spotlight: U.S. Ranks 31 Of 35 OECD Countries In Terms Of Tax Competitiveness
The nonprofit, nonpartisan Tax Foundation recently released its International Tax Competitiveness Index, which measures the competitiveness of the tax codes in Organization for Economic Cooperation and Development (OECD) countries.
The United States ranked 31 out of the 35 countries discussed in the report while Canada ranked 19th. The Tax Foundation notes that, in recent years, several OECD countries have reformed their tax codes. The United States is not one of those. “As a result,” the group says, the United States’ “combined federal, state, and local corporate tax rate of 39 percent is significantly higher than the average rate of 25 percent among OECD nations.”
Additionally, while most OECD nations “have moved to a territorial tax system, the United States has continued to tax the worldwide profits of its domestic corporations.” Click here to read more.