Ten of the G20 world leading economies do not implement lower corporation tax rates for all smaller businesses, undermining new business and job creation and hampering companies’ capacity to re-invest in their business and to expand, according to a research by MGI.
The leading economies which do not implement lower corporation tax rates for smaller business are: the USA, Argentina, Italy, Mexico, Germany, China, the UK, Russia, Saudi Arabia, Turkey.
The economies who do offer lower taxes for all small businesses are: Australia, Brazil, Canada, France, India, Indonesia, Japan, South Africa, South Korea.
Introducing small company corporation tax rates to boost start-ups and enterprise economies can be a vital way to incentivise growth in the economy and is a necessity amidst the ongoing constraints in bank lending that hit small businesses the hardest, MGI argued.
Clive Bennett, CEO of MGI Worldwide said: “Politicians often hail small businesses as the backbone of their economies so they should do more to incentivise them through the corporate tax system.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData