FX.co ★ Ten countries with low profit tax

Some countries have more favorable tax collection systems than others. Thanks to this, many of them become off-shore zones, as their tax system is favorable for investors. It becomes profitable to keep funds in the jurisdiction of such states. We suggest that you familiarize yourself with the list of such countries.

The Cayman Islands

The country has a very low profit tax. It is 0%. The population of the Cayman Islands does not pay it at all. The only source of income for the state is a variety of fees and charges, experts say.

The Bahamas

In the Bahamas, the income tax rate is 0%. Citizens of the country are also exempt from real estate tax for the first $50 thousand of housing costs. The main source of government revenues is duties and tariffs.

Guatemala

In Guatemala, the current tax rate for individuals is 7%. Ten years ago it reached a record 31%. For legal entities, this rate is still quite high - 25% and the sales tax is 12%.

Bulgaria

In Bulgaria, the tax rate for individuals and legal entities is 10% for all types of income. These indicators are very attractive for businessmen and investors, analysts emphasize.

Bolivia

In Bolivia, the profit tax is 13%, however, one should not lose vigilance: there is a complex system of taxation in the country. For example, luxury goods, which include cars, alcohol, and perfume, are taxed, the rate of which varies from 18% to 50%. In Bolivia, the VAT also reaches 13%.

Lithuania

For individuals in Lithuania, the tax rate for all types of income is 15%. The system of tax deductions for housing, education, relocation and raising the cost of living dominates in the country. At the same time, a low tax rate is compensated by the VAT at a rate of 21%, experts say.

Romania

The rate of profit tax in Romania for individuals and legal entities is 16%. Earlier, in 1995, the tax on the profit of legal entities reached an impressive 38%. At the moment, the social security rate for companies is 23.45%, and for working individuals - 16.5%.

Ukraine

The rate of profit tax in Ukraine reaches 18%. There is also an additional temporary tax of 1.5% which is levied as military assistance.

Singapore

In Singapore, there is a so-called "sliding" scale of taxation. The size of the tax rate in the country depends on the specific situation. Any income of more than $320 thousand is taxed at a rate of 22%, and income below $22 thousand is not subject to taxation at all. There are no inheritance and capital gains taxes in the country. Legal entities in Singapore pay 17%.

Latvia

The tax rate for individuals in Latvia is 23%. In the country's tax system, there are exceptions depending on the type of income. The tax for legal entities in Latvia is 15%.