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Oct 19, 2006:
Belgium Best f?r Corporate Tax Competitiveness - Survey
Tuesday October 3rd, 2006 / 17h41
BRUSSELS -(Dow Jones)- Belgium tops global rankings in corporate tax competitiveness f?r 2006, according t? ? Canadian survey published Tuesday.
Belgium headed up ? list ?f 36 industrial countries and 45 developing countries ranked according t? rates ?f corporate income tax and effective tax rates ?n capital.
Apart fr?m corporate taxes, th? survey took account ?f such matters ?s sales taxes ?n capital purchases, stamp duties ?n securities and taxes ?n contributions t? equity. Property taxes weren't included because ?f ? lack ?f data. th? survey found Belgium had ? general corporate income tax ?f 34% and ?n average effective tax rate ?n capital ?f minus 4.4%. ?t th? other end ?f th? spectrum w?s Congo, taxing its companies 38% and taxing capital ?t ? massive 55.7%. China w?s only marginally better with ? corporate tax rate ?f 24% and ?n effective rate ?n capital ?f 46.9%. th? U.S. also came out ? loser, with ?n average effective tax rate ?n capital ?f 38%, higher than 75 ?f th? countries ranked.
Belgium's success in th? corporate taxation stakes is th? more surprising since its citizens suffer fr?m one ?f th? highest personal income tax rates in th? world. According t? th? Organization f?r Economic Cooperation and Development, Belgium has Europe's highest personal income tax burden - including social security - ?t 55.4% f?r ? single earner. th? corporate taxation report f?r 2006 w?s complied b? Jack Mintz, ? professor ?f business economics ?t th? University ?f Toronto's Rotman School ?f Management in Canada. th? top 10 most competitive countries in th? survey were: Belgium, Turkey, Nigeria, Zambia, Latvia, Hong Kong, Ukraine, Serbia, Bulgaria and Ecuador. th? least competitive countries were: Congo, China, Argentina, Brazil, Germany, US, Russia, Canada, Chad and Japan.
-By Carolyn Henson, Dow Jones Newswires; +32 2 741 1484; carolyn.henson@dowjones.com
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