US, India levy highest taxes on foreign companies: Forbes news
29 March 2008

India is second only to the United States in charging high corporate taxes from foreign companies, reports US business publication, Forbes

The online edition of the Forbes' tax misery index has the US leading, and Japan trailing India as the countries charging the highest rates of corporate tax rates in the world.

India has a maximum rate of 42 per cent for taxing companies, and Japan taxes them at 41 per cent. In the United States, New York City imposes the highest corporate tax at
46.2 per cent.

However, India ranks at 35 on Forbes' misery index, more favourably as compared to China and Brazil from the BRIC countries, and ahead of Japan. India's misery index score at 89.5 per cent signifies that India offers an overall tax-friendly environment, even when compared to developed countries across Europe and America.

The index shows that among Asian countries, India, Singapore, Pakistan and Hong Kong offer a better overall tax environment. France tops the misery index.

A number of emerging economies have been progressively reducing corporate taxation to attract foreign investment.


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US, India levy highest taxes on foreign companies: Forbes